GENLED Acolyte Tariffs Related Price Adjustment

GENLED Acolyte Tariffs Related Price Adjustment

Date: June 17, 2019

June 17, 2019

Dear Valued Customer,

We are living in tumultuous times. Over the last 15 months, the United States has been discussing increasing tariffs on imports from China. As a company, we made the decision not to pass any additional costs on to our customers when the initial tariff increase of 10% was announced in late 2018.

However, due to the current Office of the U.S. Trade Representative Section 301 Import Tariffs, all product lines produced in China are now being assessed an additional 15% tariff on top of existing duties for a total increase of 25%. With that being said, we can no longer absorb these increases and are forced to pass some of them along. The following price increases will be put into place:

• All new orders received starting Friday, June 21st for Acolyte architectural products, will be subject to a 10% price increase.

As a company, we are committed to delivering the best quality products at competitive prices with exceptional customer service. We greatly appreciate your business and patience during these volatile times. Please do not hesitate to reach out to me, our sales team or customer service should you have any questions.

Best Regards,

Scott Vontobel

Global Sales Director