Ciba has announced that the Business Line Imaging and Inks will initiate a price increase of 10 to 20 percent for its Lake Red C pigment products for ink applications. All price increases will be effective immediately or as contracts allow. This price increase results from continuing significant increase in raw materials costs brought about by rising oil prices and reduced supply of key raw materials due to the closing of several production plants and significantly restricted output levels in China to decrease environmental impact. Customers will be contacted individually.
“Driven by higher feedstock costs and the closure of several plants and other restrictive measures reflecting increased environmental awareness in China, prices of key raw materials for our Lake Red C products for ink applications have continued to increase dramatically over the past few months, particularly in the red areas of Lake Red C, 4B, 2B and B naphthol based products. We have no option but to pass on these increases to our customer base,” said Mike Mordente, head of Business Line Imaging and Inks. “These price increases are required to allow us to remain a reliable and competitive supplier to the ink industry and provide our customers with innovative and quality products along with consistent high levels of service. We will continue to monitor raw material cost developments in all areas and respond appropriately.”