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As you may know, the resin industry as well as almost all industries, has seen a significant pricing increase since June 2020. Resin pricing has increased 30% since the start of COVID-19 and APP has held our pricing.
Labor issues and other material costs have increased strictly based on market trends during the pandemic which has caused our costs to increase at a greater rate than resin costs.
Advanced Poly has attempted to absorb these cost increases, but we can no longer do so.
Advanced Poly strives to provide the highest quality standards coupled with competitive pricing. You will find as a family owned business, we also try to stay in close communications with each of our customers. As you may know, APP does not announce increases and typically holds pricing for 6 months periods. We can no longer operate in this fashion.
Advanced Poly also produces equipment. Perhaps we can discuss ways to decrease your costs with increased automation as labor costs far exceed material costs.
We hope to continue to provide for your business in any way we can. Our equipment Quick Ship program may alleviate any increases and may significantly decrease your overall bagging costs.
As we all work through this global crisis, we wish you good health and safety. We thank you for your continued business.