In recent months, the global industry has been completely disrupted and this period of turbulence is unfortunately still in effect. From the beginning of the pandemic, IST has obtained the status of “Priority Company” and immediately we have put in place the necessary sanitary measures to protect our employees. Thanks to the commitment of our entire team, we are pleased to report that none of our employees have been affected by the Covid virus.
The health crisis is now transforming into a financial crisis. Over the past few days, we have been informed by our suppliers that significant price increases in steel products and imported products from Europe and Asia, are to be expected for the next year. Currently, the commodity-exporting countries are struggling to meet the needs of their domestic demand, thereby putting significant upward pressure on prices. Our team is evaluating different supply scenarios to smoothen the effects of this new crisis.
Over the next few weeks, we will be releasing the new 2021 price list and rest assured that our goal is to continue to provide high quality surface treatment equipment and to pursue our mission of offering the best value on the market.
We thank you for your support and our entire team is available to answer your questions if necessary.
Alain Doyle, President & CEO