Graphic Sciences announces price increase.
The increase, effective Oct. 10, 2005, came in response to rising energy and transportation costs, coupled with unprecedented increases in raw materials that are integral to the manufacture of printing inks.
"Increased global consumption of key raw materials has led to supply shortages throughout the industry, and the recent effects of Hurricane Katrina on the global supply chain have only exacerbated this problem," said Matt Fassler, director of corporate services for the company. "We have done all in our power to absorb additional costs through continual process improvements. However, these repeated increases have put us in a position where we have no choice but to pass on a share of these added costs."
"We will continue to explore every opportunity to reduce costs, while still providing our customers with the high quality products and service that they have come to expect from Graphic Sciences," he added.
This is the first broad increase announced by the organization in more than 10 years.
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|Title Annotation:||fresh INK|
|Date:||Nov 1, 2005|
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