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Friday, May 28, 2021
Koenig & Bauer has joined rival Germany press manufacturer Heidelberg in announcing a price rise because of increases in raw material costs.
K&B is wrangling raw materials, shipping costs, computer chips
Like Heidelberg, K&B said it would make a “moderate price adjustment” across its entire portfolio.
K&B cited reduced availability of a raft of raw materials including “copper, plastics, additives, sheet metal and wood”, alongside higher shipping and logistics costs.
“The moderate price increase enables further innovations and is thus an investment in the future for the industry,” the manufacturer stated.
The manufacturer also said that the global shortage of computer chips was resulting in “reduced capacities and long lead times for industrial customers, including those outside the automotive sector”.
Operator
Good morning and welcome to PPD s first-quarter 2021 earnings conference call. Please note, today s call is being recorded. At this time, I d like to turn the conference over to Tracy Krumme, vice president and head of investor relations for PPD. Ms.
Krumme, you may begin.
Vice President and Head of Investor Relations
Good morning, everyone, and thank you for joining our first-quarter 2021 earnings call. With me today to share our results are David Simmons, PPD s chairman and CEO; and Chris Scully, our CFO. Before we begin, I would like to remind everyone that our discussion includes forward-looking statements that are subject to risks and uncertainties that could cause material differences in our actual results. Please refer to our 2020 annual report on Form 10-K for a discussion of these risks.