Donaldson Co. announced Friday, March 18, that it has implemented targeted price increases for its industrial air filtration product lines effective April 4 and given notice of targeted price increases for certain of its engine OE filtration and OE exhaust system product lines that will become effective at various times in the second half of calendar 2011 based on the applicable notice period or commodity indexing term.
The company says specific price increases are a direct result of the significant increase in costs of steel and all-petrochemical-based purchased materials and will vary depending on the specific types and quantities of raw material content in each product line.
“We are working with our key suppliers as well as utilizing our internal continuous improvement initiatives to mitigate as much as possible the impact of all purchased material cost increases.” says Bill Cook, chairman, president and chief executive officer of the Minneapolis-based company. “Unfortunately, the magnitude of some of these cost increases is also requiring selective price increases. We remain committed to providing the best value, service, quality and technology to our customers.”