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1 July, 2022
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Magna Announcement
Price Adjustment on Some Magna Products |
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| Dear Business Partners, |
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| Due to the unprecedented tightness in the supply & demand situation caused by various factors (which are beyond our control) and the hike in inflation rate not seen in decades, costs of raw materials (including packaging materials) and transportation costs increased repeatedly and significantly over the past few months. We are constantly searching for ways to reduce the costs associated with producing our products to offset these rising costs without sacrificing the quality of our products and our services. Nonetheless, reluctantly, ITW PP & F Korea Limited has to revise upwards prices of some Magna items (effective: 01.August.2022). |
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| Rate of Price Adjustment (Indicative Only): |
| REGULAR PRICE LIST: |
| Magna Products | Price Adjustment (%) |
| M055C | No Change |
| M055E | 50% |
| M088B/C | No Change |
| M088D | No Change |
| M100B/C | No Change |
| M303E/L/M/N | 30% |
| M305B/C | 30% |
| M307C/D | 30% |
| M393A | No Change |
| M395B | No Change |
| M401B/C | No Change |
| M402B | No Change |
| M480A | 30% |
| M505B | No Change |
| M720B | 30% |
| M770B/C/D | 30% |
| M777B/C | 30% |
| M812A | 30% |
| M940A | No Change |
| MALLC | 30% |
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| “OBP” PRICE LIST: |
| Magna Products | Price Adjustment (%) |
| M077B | 10% |
| M307B | 50% |
| M309A | No Change |
| M403B | 30% |
| M403C | No Change |
| M404B | No Change |
| M405B | No Change |
| M480C | No Change |
| M506A | 50% |
| M506B | 30% |
| M777A | 50% |
| M812B | 50% |
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| Please note that we had already tried to absorb the rise on prices of raw materials and to bear portion of the increases in the production costs. New prices shall apply to all orders made from 01.August.2022 and to back orders pending due to non-settled payment as of 31.July.2022. Copies of the revised price list will be issued to you in due course. Finally, we thank you for your continuous support and trust in quality Magna products. |
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| Best Regards, |
| ITW PP & F Korea Limited |
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