MINNEAPOLIS — Twin City Fan Companies announced a price increase for customers in all its segments. Pricing for most Twin City Fan Companies products and programs will increase globally between 4 and 6 percent, varying by country and product, effective immediately.
This price adjustment is driven by double digit increases of steel and aluminum components, tariffs, and healthcare, combined with global inflation in labor and freight. Twin City Fan, Aerovent & Clarage sales representatives will be contacting customers to discuss strategies to minimize the impact of these increases.
Despite internal cost reductions and improved operational productivity, the magnitude of rising raw material prices can no longer be sustained by the company.
"With raw material and labor prices now reaching multi-year highs, it has become necessary to institute a price increase," said Mike Barry, president, Twin City Fan Companies. "While TCF has worked diligently to reduce its own costs to lessen the impact, the delta has become too great, while maintaining our brand promise as a supplier of quality fans to the industry."
Publication date: 1/8/2019