(Reuters) – British chemical company Johnson Matthey (LON:) Plc on Tuesday announced a 15% price hike in parts of its chemicals, fuels and power businesses, citing escalating costs amid inflationary pressures on its supply chains .
“The need for these price increases is driven by escalating energy and key raw material costs, rising logistics and packaging material costs,” JM said, adding that he does not was “no longer possible” to compensate for them.
The company, which serves the automotive, chemical, oil and gas and other industries, said the price increase was effective immediately or as contracts allowed.
Johnson Matthey manufactures emissions filters for cars, fuel cell components and catalysts, among others.
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