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AGY is raising the price of its E Glass yarns from June 15, 2008, which it said was necessary to offset rising costs.
According to Drew Walker, AGY Vice President of Sales and Marketing, “Over the last several years, we have experienced significantly rising costs in raw materials, precious metals and energy. Other costs tied to the escalating price of energy – including transportation and packaging have also increased. Given these current economic realities, we have now reached a point where we can no longer offset rising costs and need to adjust our pricing.”
AGY say that the price increase will also ensure their ability to continue investing in new products and technology. “Despite the difficult economic times,” said Walker, “We have always invested in new product development and more efficient processing technologies. However, today’s consistent and unrelenting cost increases have made it difficult to justify the necessary investment. A price increase at this time will ensure that we can continue to invest in the resources necessary to provide our customers with the products and services they have come to expect from AGY.”
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