Flint Group raises printing ink prices.
As a consequence of continuously rising raw material prices, Flint Group says that it has raised prices for printing inks in all market segments in North America and Europe. Increases in Europe take effect immediately. Price rises in North America were scheduled for October 1.
Global demand for chemicals and associated derivatives has continued to escalate, says Dirk Aulbert, president of Flint Group Europe. "As a result, prices for a wide range of raw materials for the production of inks have reached record levels. Most recently, China, one of the world's most important producers of pigments and precursors for pigments, announced the discontinuation of VAT refunds for export material effective from July 1, 2007. This alone has caused double digit price increases for pigments, pigment precursors and many other key raw materials."
In North America, Flint's ink prices for publication gravure, publication heatset, newpapers and sheetfed went up 5 to 10 percent. Packaging inks will go up 12 percent depending on product technology and color. The increases include inks provided by XSYS Print Solutions, a division of Flint.
Bill Miller, president of Flint Group North America, says that the increased global consumption of petroleum and petroleum derivatives, along with limited refinery capacity, continue to be the key drivers in the cost of raw materials. "We are committed to pursuing the best source and lowest cost materials available that allow us to supply the consistent, high quality products that our customers expect."
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|Title Annotation:||INDUSTRY NEWS|
|Publication:||Label & Narrow Web|
|Date:||Oct 1, 2007|
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