[updated April 19th 2020]
Over the past years your support has allowed us to continually improve our business model and make productivity gains in a number of areas, we certainly appreciate your business and we hope that our efforts have in most cases provided stability in pricing for your packaging over the past few years.
However, during this past year we have been forced to absorb a large number of quite diverse and significant cost increases throughout the business. Going forward the increases in minimum wage and living wage discussions here in New Zealand are having a major impact on our cost base, the majority of all these increases have been absorbed over the last two years, but from April 19th 2020 we made the difficult decision to pass some of these increases on.
Some of these cost increases include; insurance, energy,
general transport increases, labour cost increases, maintenance and compliance cost increases. Whilst we've been working hard to minimise the impact of these, we've reached the point where these increases need to be passed on, to ensure we can continue to be here for you and continue to support our local families and community, by keeping Econic made in New Zealand.
In some areas the impact is minimised to around 3% but in other areas, depending on the raw material make-up of the product, it could be significantly more.
We definitely value your continued loyalty and look forward to working together in the future. You can be sure that we are totally committed to assisting your business with its packaging requirements, so appreciate your assistance on this challenge today.
This collaboration between Econic and Ember Asset Management is New Zealand owned and operated in Auckland.