Simpson Plans More Pricing Actions as Steel Prices Climb More Than 50%

Simpson Manufacturing Co., Inc. expects to announce additional pricing actions in the coming weeks as steel costs climb, CEO Mike Olosky said on the company’s Oct. 26 earnings call. “Steel is now up over 50% versus a year ago and at its highest level in over 4 years,” Olosky said. He said Simpson would share more details about the pricing actions in the coming weeks. Simpson makes structural connectors, fastening systems, adhesives and mechanical anchors for wood and concrete construction. Olosky did not specify the size or scope of the planned pricing actions during the call.

Source: TokenPost