Posted May 16, 2018
Specialty chemical producer Buckman will implement a $0.02 to 0.04/pound price increase on all products sold and delivered to customers in North America, effective July 1. The change is being driven by limited capacity, a shortage of drivers, new freight regulations and rising cost of fuel.
“The widely-publicized driver shortage along with other factors, such as the new electronic logging device rule, are causing a significant increase in freight rates,” said Jim Doan, President/COO of Buckman North America.
“We have worked diligently to find the best solution to alleviate the effect of these issues, but unfortunately Buckman can no longer absorb all of these higher freight costs.”
Buckman is a privately-held, global specialty chemical company with headquarters in Memphis, Tennessee.