Sun Chemical announces price increase
Sun Chemical, a leading manufacturer of printing inks and pigments, has announced an increase in prices globally on all packaging inks from 1 December.
The price increases will vary as different products that Sun Chemical offers have a different chemical composition, but the average cost increase will be approximately six per cent for most products.
White inks, nitrocellulose varnish, and other products containing the phthalocyanine green (PG7) pigment will each see significantly higher price increases. Specific price increases by region will be announced shortly.
“Raw materials cost and supply instability continue to significantly impact the ink industry,” says Felipe Mellado, chief marketing officer, Sun Chemical. “In fact, raw materials in 2011 experienced both a record level of volatility as well as unprecedented price increases.”
The factors causing this volatility and inflation include feedstock shortages, commodity inflation, supply constraints and continued growth in demand from both traditional markets as well as from alternative industries like adhesives, coatings and tires.
“We regret needing to take this action, but as is occurring in virtually every industry today, current market conditions demand we adjust our prices,” Mellado adds. “It is our commitment to continue to work closely with customers to help them get the most possible out of our products, and to develop new valued products and services that can help grow their business despite this challenging marketplace.”
