Altec Announces Adjustments in Equipment Pricing Effective June 2011
Birmingham, AL, March 1, 2011—Altec Industries has announced price adjustments due to the significant escalation of energy and material costs, and the diminished availability of commodities. The price adjustments will be implemented June 15, 2011.
Altec’s price adjustment decision was based on a series of global market dynamics affecting the industry:
- Significant escalation of energy and material costs—some approaching record highs. Metals specifically have seen an increase, including a 63% rise in steel prices. Oil and diesel prices have also increased 10-25% over the past three months.
- Increased consumption of commodities has resulted in reduced availability and higher costs.
- Insufficient production capacity, as suppliers strive to meet the needs of a growing world economy.
Altec remains committed to implementing every cost control method available to minimize price adjustments passed along to customers.
Altec is a leading equipment and service provider for the electric utility, telecommunications, and contractor markets. The company provides products and services in over 100 countries throughout the world.
Contact:Valerie Davis
205.995.4317
valerie.davis@altec.com
