H B Fuller : Surcharge to Recover Significant Cost Increases in Raw Materials and Related Services
August 30, 2021 at 11:02 am EDT
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H.B. Fuller (NYSE: FUL) announced today that it will implement an 11% surcharge on shipments of its products globally, effective September 1, 2021, in addition to other communicated price increases. The surcharge is expected to be permanently incorporated into existing pricing by December 1, 2021.
This pricing action is driven by continued short supply and significant cost escalation of certain chemical feedstocks and plastic and metal packaging that have resulted in unprecedented costs to serve customers. These increases have been followed by inflationary costs and short supply for logistics, freight, packaging, labor and many other items required to meet customer needs. H.B. Fuller, one of the world's largest, global providers of adhesives and sealants, has done remarkable work in this unprecedented supply environment to secure materials and provide customers the essential adhesives they need to produce everything from electronics and solar panels to food packaging and personal hygiene products.
The speed and unrelenting continuation of inflationary pressures has resulted in the need for a surcharge, which will be implemented immediately.
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H.B. Fuller Company published this content on 30 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 August 2021 15:01:02 UTC.
H.B. Fuller Company is a formulator, manufacturer and marketer of adhesives, sealants and other specialty chemical products. The Companyâs segments include Hygiene, Health and Consumable Adhesives, Engineering Adhesives and Construction Adhesives. The Hygiene, Health and Consumable Adhesives segment manufactures and supplies adhesive products in the assembly, packaging, converting, nonwoven and hygiene, health and beauty, flexible packaging, graphic arts and envelope markets. The Engineering Adhesives segment provides adhesives to the transportation, electronics, clean energy, aerospace and defense, performance wood, insulating glass, textile, appliance and heavy machinery markets. The Construction Adhesives segment manufactures and provides specialty adhesives, sealants, tapes, mortars, grouts, and application devices for commercial building roofing systems, heavy infrastructure projects, road/highway/airport transportation applications, building envelope applications, and others.
H.B. FULLER COMPANY 
