Citing increased material costs, Armstrong said it will raise prices 3 to 5 percent on select vinyl and laminate flooring products beginning July 7. Additionally, the company announced that its LVT prices would rise 5 to 10 percent.
Paul Murfin, vp sales for Armstrong,
said the price increases are needed to offset production costs. “Surging prices
for oil and natural gas have continued to drive increases in key raw material
costs, particularly PVC resins and plasticizers, he said. “Further
weakness of the U.S. dollar versus other major currencies continues to
adversely impact the cost of both key raw materials and products sourced from
overseas. In addition, both domestic and international transportation costs
continue to rise.”
Product segments affected by
the price hike include VCT, commercial sheet vinyl, commercial wallbase, and residential
sheet and tile, as well as LVT and laminate products.
Armstrong to increase LVT prices up to 10 percent; vinyl, laminate also to rise
May 30, 2008