Armstrong today announced that it will initiate a 5-7% increase in the United States and Canada on all solid hardwood and on select engineered hardwood products effective with shipments on July 15, 2013.
“The cost of lumber continues to rise due to the demand for wood sharply increasing and the supply lagging behind as sawmills slowly come on line,” said Kevin Biedermann, senior vice president, Armstrong Residential Floor Products.
The outlook for lumber is for continuing high prices. The two driving factors cited by industry experts are strong demand and limited supply. The U.S. housing market recovery plus strong demand from industrial lumber usage, China and Asia will keep upward pressure on prices.
“We are doing everything we can to compensate, but unfortunately we must initiate a price increase. We truly understand how difficult it is to pass along price increases to your customers,” said Biedermann. “Armstrong’s focus continues to be delivering quality, innovation and service that drive growth for our customers.”