Vitro mirror plant announces silver surcharge
Officials from the Vitro Architectural Products mirror manufacturing facility in Grenada, Miss., announced a silver surcharge that will apply to all mirror products, according to a May 26 letter to customers. "The prices of precious metals have increased significantly, including the price of silver, which is a major component of manufacturing mirror," said Grenada Plant Manager Wayne Smith, in the letter. "This adds a tremendous cost to the production of mirror, much more than what can reasonably be absorbed," he said.
Effective June 6, 2011, the surcharge will be invoiced on a per square foot basis, according to the letter. "Adjustments in the surcharge will be made on a quarterly basis ... and will appear on each invoice as a separate line item. Beginning in [the] third quarter, the silver surcharge will be based on the average daily price for silver as published by The London Bullion Market Association for the prior quarter," the letter reads.