Armstrong announces new price increases for hardwood floors
Armstrong announced it will initiate a 5 to 7 percent price increase in the United States and Canada on solid hardwood flooring products effective with shipments beginning April 1. Engineered hardwood flooring products will face a 1 to 4 percent hike.
These increases are an adjustment to a previously announced increase of 4 to 6 percent of select hardwood flooring styles, originally planned to take effect March 15.
“As we communicated in January, lumber and energy prices are rising. Significant saw mill capacity was taken off-line during the recession and the impact on lumber costs in the second half of 2009 have been significant. Since our announcement in January, weather conditions in logging regions have worsened and log shortages have become severe. This has been compounded by an increase in demand from flooring mills that have previously reduced their yard inventory levels. We believe further raw material inflation is likely in the coming months,” said Daniel Call, vp wood product management.
These increases are an adjustment to a previously announced increase of 4 to 6 percent of select hardwood flooring styles, originally planned to take effect March 15.
“As we communicated in January, lumber and energy prices are rising. Significant saw mill capacity was taken off-line during the recession and the impact on lumber costs in the second half of 2009 have been significant. Since our announcement in January, weather conditions in logging regions have worsened and log shortages have become severe. This has been compounded by an increase in demand from flooring mills that have previously reduced their yard inventory levels. We believe further raw material inflation is likely in the coming months,” said Daniel Call, vp wood product management.
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