ACP producers have increased the price of all panels by 10% and specifically 4 mm 0.5 has been increased by 12% with immediate effect. This increase is on account of increase in cost of Aluminum Coil, freights and other polymers. The decision was taken at a meeting of members of ACP manufacturer association held on 16 September, 2021 in New Delhi. All the members mutually agreed to further implement their new prices with a hike of 10-12% on different variants accordingly with effect from 20th" September, 2021.
The other members who were not available during the meeting also gave their consent on the price hike considering the steep hike in prices of our raw materials like Aluminium Coils, PE Granules, Polymer Films, etc during the last 1 month. They said it has become mandatory for the manufacturers to recheck their cost additions, resulting in a price hike of their raw materials by increasing the price of our finished product (Aluminium Composite Panel & Aluminum Partition Panel) by 10 to 12%.
There was one more important discussion apart from the agenda regarding invoicing, as some of the members were not raising appropriate sale invoices. The members concluded the effects of improper invoicing and mutually agreed to raise a proper invoice. Non-compliance of the same by any member company was called for reassessment of their membership. In regards to ADD a committee of 2 members (Mr Pawan Garg & Mr. Subhash Jain) was formed which will alter all the matters with the Ministry of Finance & High Court.
Besides the raw material price hike they also discussed the anti dumping issue and how to proceed against the same. The leading companies who were present during the discussion include: Mr. Pawan Garg (REYNOARCH), Mr. Ashok Bhaiya (ALUDECOR), Mr. Lalit Mittal (CITYBOND), Mr. Vijay Mittal (WONDER), Mr. Sumit Gupta (ALSTONE), Mr. Naresh Garg (ALEX), Mr. Parkash Jain (VIVABOND), Mr. Subhash Jain (INDOBOND), Mr. Singhal (ALOMAX), Mr. Chapsi Gala (TIMEXBOND), Mr. Amit Goel (ALLWIN), Mr. Sanjay Garg (INDOBOND), Mr. Vikas Singh (HYNADECOR), Mr. Rajesh Gupta (ALUTEC), Mr. Amit Goel (ALUTEC), Mr. Sourabh Aggarwal (IMPERIA), Mr. Sunil Mehta (PIONEER), Mr. Satish Patel (MAPL), Mr. Vikas Goel (ALDEKO), Mr. Anshu God (ALDEKO) and Mr. Pankaj Khaitan (NARAYANI).