ProWood, the brand of UFP Retail Solutions that produces pressure treated wood products, reported that increases in chemicals will result in rising prices of materials.
According to ProWood, as chemicals and other costs rise, the company will be increasing its prices to customers by 15% to 20%.
Prior to the announced increase, ProWood said it attempted to keep prices in line by taking a hit from increased costs.
“Over the last several months we have absorbed broad increases in raw materials costs,” said ProWood Executive Vice President Ryan Kemp said. “We cannot continue to do so while maintaining our commitment to our stakeholders, including our customers, for long-term success.”
Kemp noted that “these unparalleled moves” reflect pass-along market increases from chemical suppliers who blame global raw material shortages, and instabilities, as well as increasing energy, labor, and logistic costs.
“We strive to provide the best value in the market and know that even with these price increases we will be providing an excellent value for our customers,” Kemp noted.
The manufacturer said that proper price management will ensure continued supply of ProWood products. Specific increases will vary depending on geographic region, solutions offered, and markets served, Kemp said.