Feb 24, 2003
Effective March 3, Cookson Electronics Assembly Materials (Jersey City, NJ) will increase prices for its products by an average of 3 percent, the company announced today.
Company officials said the increase is a result of cost increases absorbed on a number of fronts, including energy, metals and chemicals that make up 95 percent of its raw materials costs; packaging; freight; healthcare; insurance and retirement/pensions. According to a press release, this price increase is the first one in more than two years.
The company said that this price increase, in combination with its ongoing internal cost reduction initiatives and investments in increased operating efficiencies, will allow the company to meet its customers� process challenges as business prospects begin to improve in 2003. The company said its remains committed to offering enabling technology products worldwide, to investing in R&D and technical support on three continents and to enhancing its global quality systems.
�Our industry has suffered from a severe volume reduction over the past two years, resulting in a major decline in market size and a significantly slower future growth rate,� said Cookson Electronics Assembly Materials President David Zerfoss. �The return to steady and profitable growth in 2003 and beyond must be underscored by a return to acceptable margins for everyone in the industry. This is the only path that will lead us to sustained business success.�
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