Price increases

Price increases

As we all know, it has been a volatile year for the manufacturing industry, with a challenging global economy, and the EU coping with major fluctuations in the euro due, among other things, to quantitative easing, the seemingly unsolvable migrant issue, and the state of the Greek economy.

With the end of 2015 now in sight, we have been taking a detailed look at our product prices for next year. We will do everything possible to keep our prices at realistic levels for our customers and distributors, but there will inevitably have to be some increases, although we are hoping that these will not be across the whole range of our tools.

We have been working hard to keep our raw material commodity prices under control in a turbulent marketplace, but expect to see further price increases in 2016. In addition, the introduction of the UK national living wage next year will lead to price rises from our suppliers for both raw materials and component parts. Indeed, one of our suppliers has already proposed a 6.5 per cent increase in the cost of the components that we buy from them.

We have a great team at Torqueleader; our people have unrivalled knowledge and expertise and take a huge amount of pride in the work they do and the quality of the products they produce. We won't compromise on this quality, and although prices may need to be adjusted, you will still be getting the best torque tools in the business.

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