Boston, MA 10/06/2014 (wallstreetpr) – According to reports, Lydall, Inc. (NYSE:LDL) has decided to increase the price of most of its products by 3% to 5%. The increased price will be levied on all the orders of Lydall Performance Materials, which will be shipped on or after January 1, 2015. On the question of the main reason behind this price hike, LDL representative told that cost of fibers, energy, resins, and freight had increased significantly. Due to the increment in cost, price hike was necessary in order to maintain the operational and financial efficiency in the company.
Insights of the price hike decision of the company:
The new price hike of 3-5% is applied on almost all the products of the company. Lydall, Inc. (NYSE:LDL) has been able to absorb the gradual cost hike over the past two years by successfully implementing Lean Six Sigma Practices efficiently. Even though, cost of most of the products that company used to buy kept on increasing, but it never let that extra pressure pass on to customers. It’s the first occasion in a long time when LDL has announced price hikes. The main objective of Lydall, Inc. (NYSE:LDL) has been on following six sigma practices devotedly and successfully. Even today, it focuses more on customer service and quality of products than price of the same.
It looks to put minimum cost and price hike pressure on its customers in order to give them the extra freedom to shop continuously within their budget. As soon as the current price increment takes place, Lydall, Inc. (NYSE:LDL) will get in touch with all the customers through accounts managers in order to brief them about exact price hike and its impact on their pockets. It is a well-known company in the field of filtration/separation and thermal/acoustical. It is placed among one of those companies that enjoy most customer satisfaction across the country.
