Foundation Building Materials (FBM) and SRS Distribution announced April price increases in letters to customers.
In a letter from FBM chief sales officer Kirby Thompson published on the company’s website, the distributor said it would increase delivery costs.
“The unanticipated rapid rise in fuel cost has resulted in our suppliers implementing increased delivery charges, fuel surcharges, and/or previously unannounced price increases on shipments beginning as soon as this week,” Thompson wrote in the letter.
FBM noted it has already seen increases on drywall, insulation, ceilings, fiberglass reinforced (FRP) products, and steel in 2022.
“Nearly every supplier has communicated that there will be continued price escalation throughout 2022,” wrote Thompson. “For example, we have seen transportation charge increases of $300 per truck from Armstrong and price hikes as high as 35% from Crane on FRP products.”
FBM said that due to the ongoing turmoil in Europe, worldwide supply chain issues, and “a worldwide energy calamity,” it believes many of the price issues will persist throughout 2022.
SRS Distribution cited the imbalance of supply and demand, inflation pressure, and global unrest as driving factors behind price changes.
“The confluence of these factors is providing a challenging mix of supply chain disruptions leading to extreme rising costs and freight for all products from our manufacturing partners,” Jeremy Goldschmeiding, executive vice president of the building products division, wrote in a letter on the SRS website.
SRS said in response to the increased costs, it is announcing a 10-15% increase for asphalt shingles and residential roofing accessories effective on or after April 11, 2022. The distributor said commodity-based items will be priced at the time of shipment. SRS forecasts more price increases will be coming in future months. The distributor said fuel related charges will be handled by local representatives, but noted that customers should expect “significant increases effective immediately.”
