Raw materials drive up transformer prices
An
ABB Power Technologies product story
Edited by the Engineeringtalk editorial team
May 27, 2005
Following a sharp increase in raw material prices since the start of 2005, ABB Power Technologies is increasing the average price of its transformers by up to 10%.
Following a sharp increase in raw material prices since the start of 2005, ABB Power Technologies is increasing the average price of its transformers by up to 10% with immediate effect.
Over the past year, ABB has experienced costs increases of between 30 and 100% for raw materials such as steel, copper and oil, while normal annual cost fluctuations are below 10%.
These materials are used in the construction of transformers and account for about one third of transformer revenues.
ABB had to increase prices several times in 2004 to offset higher material prices.
In the first four months of 2005, however, the price increase for raw material accelerated.
"These additional and unprecedented commodity cost increases are of such magnitude that we have no choice but to pass them on to our end users again", said Peter Smits, Head of the ABB Power Technologies Division.
"ABB remains committed to delivering the highest value and product quality to our customers", said Smits.
"Competitive price and quality levels are in the interest of manufacturers as well as users of transformers".
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