Posted on January 27, 2021 at 9:25 AM
Norris Cylinder has said it will implement a price increase on all products for new orders shipping on or after 1st February (2021), or pursuant to individual customer contracts.
In a statement, the Michigan-based company said prices on all high-pressure cylinder models will rise by 7% and acetylene cylinders will increase by 9%.
“We will continue to monitor the situation and remain focused on pursuing world-class manufacturing practices and investments that allow us to remain an industry leader of highest quality cylinders to customers in over 120 countries,” said Norris Cylinder.
Explaining the new prices, Norris said that increases in the cost of steel, components, and other key raw materials including acetone, have risen to levels that can no longer be absorbed or outpaced by operational efficiency improvements, resulting in the need to increase sale prices.