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Albaugh issued statement on China tariffs

On October 2, 2018, Willowood USA issued a statement on China tariffs and possible prices adjustment as following:

Dear Willowood USA Customer,

As most of you know, the first phase of the import tariffs began impacting our industry late last month. The purpose of this memo is to clearly communicate to our customers the changes this will have on our pricing and our plans for handling this situation moving forward.

Not every product in the Willowood USA portfolio will be subject to tariffs. In some cases, the tariffs will be imposed on technical that we import. In other cases, some of the intermediates used in our products will be subject to tariffs. This is a dynamic situation and we will continue to monitor and communicate any changes to pricing, so as not to confuse the situation.

We will soon be issuing an updated price sheet which will include current prices on all of our products. Prices that contain an ‘*’ beside them are products for which we believe tariffs have been imposed. Later this year, the tariffs on these products may change and if so, we will adjust our prices accordingly. We plan to capture the tariff amounts by product so that if tariff rules change during the season, and Willowood USA receives a refund, we will be able to accurately credit your account.

We appreciate your patience in this matter and are always available to answer any specific questions that you may have on any of our products. We will do our best to maintain the competitive product pricing that you have come to expect from Willowood USA to protect crops and drive profits for both you and your customers.

Sincerely,

J. Middione Jr.

Strategic Business Manager

Willowood USA