Dear Valued Customer,
I am sure that you are all aware of the significant impact that the current supply situation is having on the composites industry. The supply chain is being impacted across multiple product lines due to raw material shortages created by the recent weather event in Texas and the surrounding gulf states. The recent events have also been compounded by the supply and demand for both imported and domestically produced glass reinforcements which started in the 4th quarter of 2020.
This situation is creating multiple price increases to base raw materials that are used to formulate polyester, vinyl ester resin, gel coats, epoxy lines and glass fiber products. It is also affecting many other key products that we sell to our valued customers. This has been accentuated with force majeure and allocation declarations by the majority of our vendors.
With this in mind we are unable to absorb the continuing rising costs and have no alternative but to pass on the increases to our customers. We are continuing to work closely with our suppliers to maintain our inventory levels at all our locations.
We are also aware that interruptions to the supply chain are currently unpredictable and communication with our suppliers is focused at the highest level so we can provide our customers with the latest market updates and supply data.
I believe that communication is key in these situations and we will continue to update you on a regular basis. During these challenging times we appreciate your understanding and patience as we continue to work diligently with our suppliers to fulfil your needs in the coming months.
If you have any further questions please reach out to your local North American Composites account manager. NAC is committed to being your premier supplier of composite materials.