Agfa Graphics Announces Silver Price Surcharge
Friday, May 06, 2011
Press release from the issuing company
Ridgefield Park, NJ - Agfa Graphics announced today that the company will be implementing a silver surcharge on graphic film products effective May 9, 2011.
"The price of silver continues to escalate to all-time high levels. Year-to-date, silver prices have increased almost 60% with no signs of stabilization. This follows an 80% increase in silver prices throughout 2010. Agfa can no longer absorb the ongoing increase in silver prices. Due to the rapid rate at which silver prices are escalating, it is impractical to offset these increases with a traditional price increase," said Peter Wilkens, President of Agfa Graphics.
In lieu of raising product prices, a surcharge will be implemented to compensate for these extraordinary market conditions. The surcharge will vary as the cost of silver fluctuates, keeping the customer's current product pricing stable. It will be discontinued when the price of silver returns to January 2011 levels. Customers are encouraged to take advantage of silver recovery to recoup the additional costs related to the silver surcharge.
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