Armstrong to Implement 4% Price Increase on SVC Tile Products
Due to raw material costs and underlying inflation of wages, benefits, energy and transportation, Armstrong will initiate a 4% price increase in the United States and Canada on Standard Vinyl Composition Tile products, effective with shipments on Feb. 3, 2014.
Armstrong will implement a bi-annual price review for its Vinyl Composition Tile products and price changes will be evaluated and communicated to customers in May and November with effective dates of the following February and August respectively.
“Material pricing and the risk of inflation are critical factors when bidding on a commercial construction projects. A structured and predictable price review and adjustment provides certainty for our customers on their material costs and addresses their concern on inflation risk impacting the profitability of the project ,” said Dominic Rice, vice president, Commercial Flooring.