Corning Cable Systems raising prices on select products
Dec. 21, 2005 - The company cites continuously rising commodity raw-materials, energy, and transportation costs as the reason for the increase.
Corning Cable Systems (www.corning.com/cablesystems), part of Corning Inc.'s telecommunications segment, recently announced a price increase in select non-contract and select list prices for products across its cable and hardware product portfolio in the Americas region. The new pricing structure will take effect in the first quarter of 2006.
Corning Cable Systems uses commodity raw materials like plastics and metals to produce its products, and cots for these materials continue to increase, the company explained in a release announcing the price increases. Energy costs are also rising for production, as are transportation costs, the company further explained. Approximately one year ago Corning Cable Systems announced a similar price increase that took effect in early 2005.
"Our main objective has always been to provide our customers with innovative products with the highest quality products and services available, and we will continue to meet that commitment," said Larry Aiello, president and chief executive officer of Corning Cable Systems. "However, with our supply chain costs continuing to rise, we have been left with no choice but to selectively raise prices."