Printer Friendly

CRI among inkmakers with price increases.

Color Resolutions International (CRI), of Fairfield, OH, USA, has announced that prices on all packaging inks were raised between 7 and 14 percent November 1, depending on the color and resin technology. CRI President George Sickinger said that the price increases are prompted by elimination of refunds that Chinese exporters receive from the Chinese value-added tax (VAT) and a continuing rise in raw materials, transportation and energy costs.

Effective July 1, the Chinese government repealed the VAT export tax refund for 553 "high energy consuming, high polluting and scarce natural resource-consuming" products. Products that are affected include leather, chlorine, some fertilizers, certain lumber and metal products, dyes and other chemical products--including pigments, resins and additives used in printing inks. Several other ink companies have announced similar price hikes recently.

In addition to the increased import costs due to the VAT refund elimination, increasing energy costs are also forcing CRI to adjust their pricing. "The increase in demand for petroleum and petroleum derivatives has a dramatic effect on the cost of raw materials," says Sickinger. "These increases have a tremendous impact on our production costs and we need to reflect some of that in our product pricing."

"However, we will continue to look for methods and resources to help us keep production costs as low as possible," he adds.

COPYRIGHT 2007 Rodman Publishing
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:INDUSTRY NEWS
Publication:Label & Narrow Web
Date:Nov 1, 2007
Words:218
Previous Article:EFI Jetrion, Spartanics form partnership.
Next Article:PGM formed to market used Gallus equipment.
Topics:


Related Articles
CB Mills/Chicago Boiler Co.
Cash on cash. (Editor's Note).
Color Resolutions International's risk is paying off.
NPIRI technical conference focuses on Inkmaker--printer relationship.
Several life insurers excel in online customer service.
Color Resolutions announces price increases.
Dear EarthTalk: I know there's a big debate now as to why we need bottled water at all, but is anyone addressing the incredible waste of plastic...
High performance fluoroelastomers.

Terms of use | Privacy policy | Copyright © 2020 Farlex, Inc. | Feedback | For webmasters