RE: Price Notification
August 3, 2018
RE: Price Notification
Valued Globe Pipe Hanger Products Customers –
The cost of steel raw material used in the production of Globe’s pipe support products continues to escalate, and lead times for material are being extended. The latest round of price increases is now hitting our incoming steel. Our mills and steel service centers are now being hit with the 25% tariff levied on imported steel from Canada, where a large percentage of our Globe steel comes from. When the original import tariffs were implemented earlier this year Canada, Mexico and the EU were exempt. They are no longer exempt. Domestic producers are taking this opportunity to raise their prices as well. In addition, the cost of fasteners, galvanizing and freight have gone up substantially. Stainless Steel products are being hit especially hard.
Many of our competitors have already implemented multiple rounds of price increases. Globe had a relatively small increase back in April, but we can no longer hold off on addressing these rising costs.
Rather than a general across the board increase, the increase will vary based on product line. Some products will be impacted more than others, based on the cost of the steel used to produce the parts. As always, Globe will do all we can to control our internal costs, and market shop our material suppliers to get the best available steel at the best available price, with the best available delivery.
Price changes will be effective with all shipments on August 20, 2018.
A gentle reminder, Globe sells its products in full box quantities, we have a $100.00 minimum order size, and free freight is allowed on shipments of $1,900 or more.
If you should have any questions, please do not hesitate to contact Globe Customer Service or your Technical Sales Representative. Thank you for your understanding and continued support.
Dan Collins
Vice President Sales & Marketing
