10.24.05
Citing continued rapid increases in the cost of raw materials coupled with tight supplies of strategic ingredients, INX International Ink Co. announced a price increase of 5 percent to 10 percent (depending on product line), to take effect Dec. 1, 2005.
“We have worked diligently to manage these issues,” said Charles Sagert, INX vice president sales, “including reduced margins to moderate the impact on our customers in anticipation of a return to prior cost levels. Unprecedented cost escalations have continued, however — not only for natural gas (now exceeding twice the price of historic levels), crude oil, and raw materials — but also significant cost increases for transportation and delivery. The magnitude of these multiple increases along with the tight supply of strategic components critical to ink formulary, have left our own prices lagging further and further behind … leaving us no choice but to partially close that gap with the 5 pecent to 10 percent increase."
“We have worked diligently to manage these issues,” said Charles Sagert, INX vice president sales, “including reduced margins to moderate the impact on our customers in anticipation of a return to prior cost levels. Unprecedented cost escalations have continued, however — not only for natural gas (now exceeding twice the price of historic levels), crude oil, and raw materials — but also significant cost increases for transportation and delivery. The magnitude of these multiple increases along with the tight supply of strategic components critical to ink formulary, have left our own prices lagging further and further behind … leaving us no choice but to partially close that gap with the 5 pecent to 10 percent increase."