XSYS announces price hike
XSYS has announced the implementation of price increases across the Nyloprint product range from 1 February 2022. The increases come as a direct response to the unprecedented levels of cost inflation, which up until now have been mitigated by XSYS through various cost-reduction initiatives and projects, as well as technology improvements and other efficiency gains.
24 Dec 2021 | By Rahul Kumar
However, in 2021, the cost inflation being absorbed by XSYS has increased to unequalled levels. The company said cost inflation is being passed on by suppliers and is present across a number of input costs. For example, raw material and feedstock suppliers are implementing double-digit price increases. Again, soaring gas and electricity costs have resulted in significant inflation in XSYS production costs, as well as increased costs from suppliers. Freight costs are increasing, with the World Container Index at +15% since July 2021. This is having an impact on the supply of raw materials, as well as sea and land freight within the XSYS supply chain network.
The additional inflation seen in 2021 shows no signs of retracting. As a result, XSYS will implement a price increase of between 7% and 15% across the Nyloprint product range, effective 1 February 2022.
“Securing the supply of our products in a timely manner to customers remains our priority. We will maintain full support of our customers with technical service and quality products during this challenging economic period,” said Friedrich von Rechteren, global commercial VP at XSYS. “Furthermore, XSYS will continue to invest in projects and efficiency drives designed to counter the inflation where possible.”
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