Geberit readies second extraordinary price increase to tackle dearer raw materials
ZURICH (Reuters) – Geberit will introduce a second extraordinary price increase for its products during the fourth quarter to counter more expensive raw materials prices, Chief Executive Christian Buhl said on Wednesday.
The Swiss plumbing supplies company had already raised prices for its products by 1.5% during its normal annual price increase in April, and had introduced an extraordinary increase of 2% in July.
Geberit was now introducing a second extraordinary price rise of 1.5%, which would mean its products would now be 5% more expensive in January than they were a year earlier, Buhl told reporters after the company reported third-quarter results.
(Reporting by John Revill; Editing by Michael Shields)