Price increases vary by business unit and region; average
increases of 4 to 15 percent
MINNEAPOLIS--(BUSINESS WIRE)--
Donaldson Company, Inc. (NYSE: DCI), a leading worldwide manufacturer of
filtration systems and parts, increased list prices for select products
in both the Engine Products and Industrial Products segments by an
average of 4 to 15 percent, depending on business unit and region.
Account representatives from Donaldson are now communicating specific
details directly to their customers, with the timing of the increase
subject to the terms of applicable agreements.
“While we are encouraged by the favorable market conditions and
increasing demand, our gross profit is under pressure from several
factors, including significant cost inflation in our two largest inputs,
steel and media, as well as freight and other demand-related costs,”
said Tod Carpenter, chairman, president and chief executive officer. “In
addition to our continuous improvement and expense optimization
initiatives, we are implementing price increases to recapture a portion
of the inflationary pressure. At the same time, we are continuing to
invest in our customers. We remain committed to delivering innovative
products and maintaining our position as a top-tier supplier to our
customers, which enables them to deliver high-performing products on
pace with the global end-market recovery.”
Purchased raw materials represent between 60 and 65 percent of
Donaldson’s cost of goods sold. Of that amount, steel, including
fabricated parts, and filter media each represent approximately 20
percent, and the remainder is primarily petroleum-based products and
other components.
About Donaldson Company
Founded in 1915, Donaldson Company is a global leader in the filtration
industry with sales, manufacturing and distribution locations around the
world. Donaldson’s innovative technologies are designed to solve complex
filtration challenges and enhance customers’ equipment performance. For
more information, visit www.Donaldson.com.
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for Donaldson Company, Inc.
Brad Pogalz, 952-887-3753
Source: Donaldson Company, Inc.