FARMINGTON HILLS, Mich. - Due to the significant rise in raw materials and shipping costs, Brooks Security Products has raised prices on several products for the first time since Jan. 1, 2003.
'Since Brooks Security Products last increased prices in January 2003, we've seen a 50% increase in the cost of some of the steel grades and plastic resins we use,' explained Phil Dudley, North American Sales Manager for Brooks Utility Products Group. 'As many manufacturers in the utility as well as other industries have seen, steel prices alone have increased more than 40% since the first of the year and lead times have more than tripled.'
In addition, Dudley added, increased freight costs also contributed to Brooks' price increases.
'We have made every attempt to ease the price increases by purchasing extra materials in advance of our cost increases and through long-term sourcing contracts. In addition, we continue to drill down through our manufacturing processes to find savings,' Dudley said.
'Despite our best efforts, our material and freight costs continue to have a detrimental financial impact on our operations, and we have no choice but to pass through a portion of these cost increases.'
Brooks Security Products price increases took effect in early October, and affect its plastic padlock family of seals; roto and toolless roto seals; roto presses; Spring-Lok and all plastic padlock seals; multibar seals; locks and locking hardware; and cable seals.
'Most of the price increases are 1-7%,' Dudley explained. 'However, some of the more steel-intensive products have price increases of 14-20%.
'Though we can't say when,' Dudley added, 'we plan to be able to roll back these price increases if our cost of materials and services return to previous levels.'
Brooks Security Products, a member of the Brooks Utility Products Group, manufactures a full line of security and revenue protection products, from tamper-evident seals to high-level hardened alloy products.
Brooks UPG, part of the E.J. Brooks family of companies, was formed in late 2003, as a reorganization of three utility industry companies: Brooks Ekstrom, Brooks Meter Devices and Brooks Security Products. Brooks UPG provides a complete line of metering related products for the utility industry.