NEWNAN, Ga.--(BUSINESS WIRE)--Bonnell Aluminum, including its wholly-owned subsidiary AACOA, Inc., announced today that it is implementing a price increase of $0.035 per pound on base conversion, 6% on anodizing, 10% on paint, and 3% on fabrication services, effective with shipments on and after January 11, 2016.
“Due to the tight market for skilled labor in the areas where our plants are located, the costs associated with recruiting, training, and retaining skilled workers have continued to rise above what we are able absorb,” said Ira Endres, Vice President Sales and Marketing. “This price increase is necessary to offset the impact of these rising costs, and it allows for critical investments in our business to ensure that we have the quality, service, capacity, and capability to meet our customers’ demand.”
The price increase will apply to the sales of all extruded products and related services.
About Bonnell Aluminum
Bonnell Aluminum is a subsidiary of Richmond, VA, based Tredegar Corporation. The company produces soft and medium strength alloy aluminum extrusions for nonresidential building and construction, automotive and specialty markets. For additional information please visit www.bonlalum.com.
FORWARD-LOOKING AND CAUTIONARY STATEMENTS
Some of the statements made in this press release are forward-looking statements that involve a number of risks and uncertainties and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon Tredegar’s current expectations and projections about future events and generally relate to Tredegar’s plans, objectives and expectations for the development of its business. Although management believes that the plans and objectives reflected in or suggested by these forward-looking statements are reasonable, all forward-looking statements involve risks and uncertainties and actual future results may be materially different from the plans, objectives and expectations expressed in this press release. For a discussion of the risks and uncertainties, and other important factors, any of which could cause Tredegar’s actual results to differ from those contained in the forward-looking statements, see the section entitled “Risk Factors” in Tredegar’s Annual Report on Form 10-K for the year ended December 31, 2014, as well as discussions of potential risks, uncertainties, and other important factors in Tredegar’s subsequent filings with the Securities and Exchange Commission. All information in this press release is as of the date of the release, and Tredegar undertakes no duty to update this information unless required by law.