Guardian Industries will institute a silver surcharge for all mirror products, effective with shipments on 30 May, 2011. The company sent a letter on 18 May to customers informing them of the increase…
Guardian Industries will institute a silver surcharge for all mirror products, effective with shipments on 30 May, 2011. The company sent a letter on 18 May to customers informing them of the increase. A company spokesperson explained that the reason for the increase is the rising cost of silver, which has prevented the company from absorbing the continual cost increases. The spokesperson said that precious metal prices overall have increased dramatically during the past year. As silver is a major component of mirror manufacturing, these constant rising costs have to be accounted for somehow. According to the letter, the new surcharge will be levied on a per square foot basis and will be adjusted quarterly. It also stated that beginning the 3Q, the surcharge will be based on the average price for silver as published by the London Bullion Market Association for the twelve weeks prior to the 15th (or prior business day) of the last month of the preceding quarter.