LG Water Solutions announces price increase for 2023
Thank you for your continued support of LG Water Solutions, a business division of LG Chem. For the last year, corporations worldwide have witnessed unprecedented cost increases in raw materials, transportation, energy, and labor, among various factors. Even if some of those factors are settling down, global businesses continue to experience uncertainty in macroeconomic environments, mainly due to high inflation rates and high energy prices. This unavoidably affects LG Water Solutions’ business operations.
Our primary objective is to continue delivering consistent value for your business through these challenging times. However, despite significant efforts, LG Water Solutions has reached a degree where we are unable to absorb the burden resulting from the cost increases. As a result, our business must implement a price increase of 5-10 percent across its reverse osmosis (RO) membrane product line, effective January 1st, 2023 (hereinafter referred to as “effective date”). All new orders received after the publishing of this notice and shipped after the effective date will reflect the price increase. Your LG representative will provide detailed information on the new prices and answer any questions about specific products.
We remain committed to providing high-quality products and services as we constantly evaluate solutions to minimize the business impact on our valued customers. We sincerely appreciate your understanding and loyal support.
About LG Water Solutions
LG Water Solutions manufactures NanoH2O™ seawater and brackish water reverse osmosis (RO) membrane elements based on the ground-breaking Thin-Film Nanocomposite (TFN) technology. TFN technology improves membrane performance by embedding benign nanomaterials on the membrane surface and increases flux by 20% without compromising salt rejection. For more information, please visit www.lgwatersolutions.com/.