As you know, Small Parts Manufacturing strives to keep our customers up-to-date on any news that we receive from our outside vendors concerning changes in material costs or related updates. In keeping with this goal, we would like to share the following information that we received from one of our outside vendors:
“As many of you, we have been bombarded with record level inflation for many of our cost inputs over recent months, with little or no advance notice. As a surface finisher specifically, we are impacted by additional significant new and existing environmental regulation costs to manage potential hazards included in materials used in our processing to add value to customer parts. We must cover our costs and continue to be environmentally responsible and meet commitments to our customers and community.
Based upon increased costs, we will be adjusting our base selling rates by 11.6% for parts we process for orders received effective Tuesday, January 3rd, 2023. These changes will not affect our minimum charges. The energy and nickel surcharges will not be increased. Part price quotes issued 30 days prior will not be revised from the existing quoted amounts.”
SPM does not plan to increase our own prices as of now. We will continue to keep you informed as we receive new updates.