Flint Group reports the continuing cost escalation for raw materials requires the company to increase prices of inks in North America effective August 1, 2011.
Raw material costs increased consistently throughout 2010 and have continued to do so in 2011. Susan Kuchta, vice president, North American packaging and narrow web, Flint Group, comments, “We have continued to see shortages and cost increases in key materials. In many cases the cost increases have been cycling through every 30 to 60 days.”
Flint Group is increasing the prices of inks and coatings as follows:
Packaging and Narrow Web: Water and solvent-based products will increase 6%, with the exception of white, which increases 10%; UV Flexo products will increase 5%, and other narrow web UV products will also increase 5%; and Violet 23 pricing adjustments will be determined on a customer-by-customer basis based on product.
Publication Gravure: All publication gravure inks will increase 7%.
Flint Group will communicate with its customers regarding the overall impact of the price increases on their specific product portfolio.
“We know that price increases are tough, especially in today’s business climate,” says Bill Miller, president, print media, Flint Group. “We appreciate our customers’ support as we address business realities, and we assure them that the quality and supply of our products will not be affected by these market conditions.”