COPLEY, Ohio—Preferred Compounding Corp. will adjust prices for all rubber compound services beginning Feb. 1.
The firm said the adjustments are "non-material related," and instead represent a "new normal" based on significant increases in freight, packaging, utilities and other costs.
"We will continue to drive continuous improvement in all of our plants through the preferred production system, which engages all 500 employees in making improvements for our customers," CEO and President Ken Bloom said in a statement.
Preferred is one of the largest custom rubber compounders in North America, supplying proprietary and custom mixed rubber compounds to customers, including molders, extruders, mixers and others in the rubber goods market. The firm is owned by Audax Private Equity.