Armstrong to increase LVT prices up to 10 percent; vinyl, laminate also to rise
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.
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.
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