Citing high energy costs and a “tight global demand” for key materials, Armstrong said it plans to raise prices 3 to 5 percent on several of its residential and commercial vinyl products beginning June 1. The price hike is slated to effect the company’s full line of commercial vinyl composition tile, as well as select commercial and residential products including sheet vinyl, luxury vinyl tile and plank flooring.
to Dominic Rice, Armstrong’s vp product management, commercial flooring, the
price increase is needed to offset rising fuel and transportation costs. “Our
continuing productivity improvements cannot offset the full-cost impact of
these increases, making this price increase necessary,” he noted.
Cubell, Armstrong’s vp product management, residential sheet, said the company
would continue to offer vinyl products that represent “innovation and quality”
in the marketplace.
“We do anticipate that hard surface flooring will
continue to gain market share,” he added.