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SMT & Inspection | June 09, 2006

Henkel to raise prices<br>due to climbing silver prices

Henkel is going to make price adjustments to handle the increasing silver prices.

"We have obviously tried to absorb as much of the silver price increases as possible without passing that on to our customers," states Patrick Trippel, President of the electronics group of Henkel. "But, with the price of silver now almost double what it was at the end of last year and current fluctuations relatively erratic, we must implement a price modification." The silver price has risen from $7 per troy ounce in the fourth quarter of 2005 to as high as $16 per troy ounce in early April. "This pricing structure is designed to give Henkel customers some level of expenditure predictability for the near term," says Trippel. "And, customers may rest assured that when silver prices stabilize or decrease, Henkel will alter our product pricing to also reflect any reduction in silver costs."
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