Dear valued customer,
As you are aware, the global economy is currently being faced with unprecedented inflationary pressures due to various factors including shortages of raw material components, drastically increased component (steel, copper, plastic) and freight costs (ocean, rail, air and truck), as well as higher costs due to labour shortages. We are receiving increases on a daily basis, in many cases multiple increases from the same vendors and air and ocean freight pricing is increasing each week.
Further to our last communication, there continues to be longer and less certain production lead times. We are doing our utmost to ensure we have ample stock, however lead times are changing daily from our suppliers and manufacturing partners. We are at the mercy of the transportation delays resulting from a shortage of containers, reserved space on ships not being respected and direct sailings being rerouted. We have seen some ports shut down operations completely due to COVID outbreaks adding complication to the situation. We will continue to update you, and in the interim, please know that we are working with our teams to mitigate shortages as best as we can.
Here are a few articles you can read that describe the situations that we are all facing:
https://www.freightwaves.com/news/flexport-trans-pacific-deteriorating-brace-for-shipping-tsunami
As a result, we are forced to issue a second general price increase effective September 1, 2021 (in addition to the previous increase that became effective on April 5, 2021.) The increase will be approximately 5 – 15%, with certain products that are bulky or have a high composition of an affected component (i.e. copper) exceeding 15%.
We are currently evaluating all of our product pricing and will be issuing our new price lists by Mid-July.
The last day of order entry at the old prices will be August 31, 2021.
All quotations issued prior to the increase will be valid only until the expiry of the quotation. Any order placed on expired quotations in question will be subject to re-quote based on the new pricing at that time.
All non-released project orders placed prior to September 1st must be released within 6 months or will be subject to a re-quote before release.
All new future dated stocking orders for release after September 1st must be entered and invoiced at the new price.
We value your business and your continued support as we all try to work through these challenging times.
For any additional information please do not hesitate to contact your Stanpro Sales Representative.
Thank you for your understanding,
Greg Parsons
VP Sales