Altec increases prices

By Lindsey Anderson16 April 2012

Altec Industries, Inc., has announced it will increase its prices byapproximately 4.5 percent, effective May of 2012. The company said the increase is necessary due to a "series of market conditions that have impacted the manufacturing industry, including increases in material and operating costs, commodity demand and the effects of expanded government regulation on the industry."

The U.S. Department of Labor reported material used to manufacture Altec's units increased 7.1 percent in 2011, and that percentage continues to grow in 2012, the company said.

"Altec remains focused on a range of cost-management initiatives to minimize price adjustments. These cost-control methods include lean manufacturing processes, as well as comprehensive supply chain management programs."

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