Date : June 9, 2021 | Author : Ben Nicely
To: Our Valued Customers and Sales Partners
Re: Inflation Price Increase notice
In addition to strong inflationary forces in the commodity markets, we are also seeing inflation in transportation costs across all modes. We have strived to absorb these increases for the past several months, but effective immediately, we announce a 4% increase in prices. Our suppliers have made similar announcements.
In addition to our prior notice dated May 17, 2021, we now see an average price increase of 12%.
We will honor the prices and terms on existing blanket and spot market proposals during the Bid validity period.
We are committed more than ever to our customers and partners and we will continue to produce the most reliable power transformers in North America.
We will continue to monitor the commodities’ prices and freight cost and supply and if we see further softening of prices, VTC will be prompt to roll back the price actions.
We value your business and we thank you for your continued trust in our technology and people.
If you have any questions, please email to Rajiv_Kumar@vatransformer.com
VTC -GT management