We want to proactively communicate emerging cost pressures within our supply chain that may impact pricing soon. Over the past several weeks, we have experienced significant increases from our suppliers, particularly in raw materials tied to petroleum-based resins.
As you may be aware, ongoing geopolitical tensions involving Iran and disruptions in the Strait of Hormuz—a critical global shipping and energy corridor—have created substantial volatility in energy and petrochemical markets. These disruptions have contributed to rising crude oil prices and tightening availability of key feedstocks used in resin production.
In addition, global freight markets have been affected by rerouted shipping lanes, increased transit times, and elevated war-risk insurance premiums, all of which are contributing to higher transportation costs.
As a result, we are seeing upward pressure across multiple cost components, including:
- Resin and other petroleum-based raw materials
- Supplier-imposed surcharges
- Freight and logistics expenses
While we continue to work closely with our suppliers and logistics partners to mitigate these impacts, the magnitude and speed of these increases may require us to implement pricing adjustments in the coming weeks.
Please know that we are committed to:
- Maintaining supply continuity
- Minimizing cost impacts wherever possible
- Communicating transparently and promptly
We will do our best to provide advance notice of any formal pricing changes, but we would anticipate issuing increases ranging anywhere from 5-10% in the coming weeks. We value your business and appreciate your understanding as we navigate these challenging market conditions together. If you have any questions or would like to discuss your specific situation, please do not hesitate to reach out.
