Cooper Lighting and Hubbell Lighting have announced more price increases due to supply chain shortages from the pandemic. These increases come on the heels of industry price increases announced earlier this year.
The following memo from Cooper Lighting Solutions was dated March 26, 2021 and is from the Vice President of Sales, Joe Melchiors, and Vice President & General Manager, Ken Walma. Cooper’s parent company, Signify, announced price increases a few days ago.
To: C&I Distributor and Agent Partners
Subject: Price Increase Update
More than a year into the pandemic, many businesses, industries, and suppliers continue to feel the impact of global supply chain shortages, logistics capacity issues (ocean, rail, air, and truck), and significant cost pressures on electronics, steel, copper, aluminum, oil, plastics, transportation, coupled with unfavorable foreign exchange rates. As a result of these factors, and in addition to the previous price increase announced on December 21st, 2020, we will implement a general price increase up to 7% on certain Lighting and Controls products, and up to 10% on legacy products effective May 24th, 2021.
Our price lists are being updated and will be available by April 16th, 2021. The last day for entry and shipping release of orders for impacted products at current prices is May 21st, 2021. All orders entered or released for shipping after this date will be invoiced at the new prices, without exception.
We are committed to our partners and customers and will continue to invest in delivering innovative and cost-effective lighting solutions with impactful financial, environmental and social value for our stakeholders and society. We value your business and thank you for your continued support and patience as we both navigate through these dynamic times.
For additional information please contact your local Cooper Lighting Solutions manufacturer’s representative or direct salesperson.
This memo from Hubbell Lighting was dated March 30, 2021 and is from the Vice President/General Manager of Hubbell Commercial, Peter Fehl and Vice President of Sales & Marketing, Hubbell Commercial Lighting, Tom Benton.
Tagged with Cooper Lighting Solutions, Hubbell Lighting
TO: Our Valued Customers and Agency Partners
RE: Pricing Update
By now you may have seen the numerous communications circulating both within and outside of our industry speaking to the impact the global pandemic is having on supply chains and what has in turn, resulted in notable increases in raw material and transportation costs.
Despite our ongoing productivity actions, we have not been able to fully offset these cost headwinds and as a result, we will be implementing additional price increases of up to 6% on a range of impacted luminaire and control product solutions effective June 1, 2021.
Price guides will be updated and available no later than April 30, 2021 and the last day to enter orders for immediate release at current prices will be May 31, 2021. Thereafter, new pricing will be applied.
This continues to be a challenging time for our industry, and we appreciate your continued support of Hubbell Lighting as we look to implement these changes as smoothly as possible.
If you have any questions, please reach out to your Hubbell Lighting sales manager or quotations representative for additional support.