Based on the current situation, Bostik will apply a surcharge on the prices of its products, effective with shipments from October 1, 2021. Bostik will communicate the specific details shortly to its customers, with the timing of the surcharge being subject to the terms of prior agreements.
Bostik continues its ongoing efforts to manage costs and ensure supply to support its customers in this challenging market environment. At the same time, Bostik has seen unprecedented levels of supply constraints and cost increases that are expected to continue at this pace not only through the balance of the year but well into 2022. The causes are many and include the continued impact of Covid-19 globally, multiple weather related issues and disruptions, extreme shipping and logistics costs, constraints across every mode of shipping, shortage of workers, and more. This has led to many force majeures and material shortages throughout the global supply chain as well as exceptional cost increases that Bostik has not been able to recover.
Bostik has been managing through these incredible dynamics with a constant aim of providing its customers, the materials and the service they expect and need, and this surcharge aims at helping keep doing so.