Timelox Adjusts Pricing to Accommodate Declining U.S. Dollar

  • TimeLox®
  • 04.17.08
The rising cost of raw materials and transportation, coupled with the continued decline in the value of the U.S. and Canadian dollar (USD/CAD) versus the EURO (EUR), China Renminbi (RMB) and other major world currencies, has resulted in the need for companies to make price adjustments to help restore balance in light of the current economic environment.

TimeLox, a leading developer of security solutions for gaming properties and other large resorts, announced a 10 percent price increase on all electronic lock and in-room safe products. The price increase will go into effect by June 1. 

“We absorbed most of the impact of the currency movements over the past 18 months to support the long-term growth of our customers and to help them stay financially healthy, physically secure and solidly positioned in their respective markets,” said Marc Freundlich, president of TimeLox North America. “However, after further decline of the dollar this year to date, we must move to stabilize our costs to better reflect these developments.

“The economic environment may be changing, but TimeLox will remain a leading developer of locking systems for hotels, casinos and resorts that we are known for around the world,” he said. 

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