Williams Scotsman, an Algeco Scotsman company and leading provider of modular space and storage solutions in North America, today announced a price increase averaging 5 percent for its products as a result of rising fuel and commodity costs.
According to the U.S. Energy Information Administration (EIA), the price of fuel has increased 21.4 percent from 2009, with further price increases expected through the next few years. The cost of lumber has increased 13.1 percent since 2009 according to Random Lengths, an industry publication that uses the Framing Lumber Composite Price index . And MEPS reports note that the cost of steel beams increased 14.5 percent over the course of 2010.
"We all recognize these are extraordinary economic times," said Wayne McGowan, vice-president of sales for Williams Scotsman. "We absorbed significantly higher costs for materials and transportation over the past year, and remain committed to delivering value to customers at competitive prices. This minimal increase allows us to continue providing the quality products and high levels of service that our customers expect and deserve."
Duncan Gillis, chief executive officer of Algeco Scotsman, parent company of Williams Scotsman, noted, "Our US business is now responding to supplier prices we've felt globally over the past year. We have chosen to pass along some of our cost increase rather than compromise our standards and commitment to customers."
The price increase will be effective immediately for all new lease and sale transactions across the company's portfolio of products in the United States.