Armstrong will initiate an average 5 percent price increase on its commercial vinyl composition tile (VCT) products, effective on June 1.
"Continued extraordinary increases in PVC resin and plasticizer costs over the last few months, driven by the significant increases in both oil and natural gas prices, make this increase necessary," said Frank Ready, senior vice president, Sales and Marketing. "Increased energy costs also have resulted in a substantial increase in our transportation costs. We have been able to absorb the raw material and transportation cost increases to date through enhanced productivity, but we can no longer absorb the latest round of increases alone.
"Despite the unpredictability in raw material costs, our immediate
focus remains the same -- drive productivity, innovation and quality
initiatives that make Armstrong the best commercial resilient flooring
supplier in the industry," he added. "Our goal continues to be to provide our customers with superior products and timely service on all Armstrong products."