This price increase results from significant increases in raw material costs brought about by the closing of several production plants and significantly reduced output volumes to limit environmental impact as well as lower export tax rebates in China.
“Prices of key raw materials for classical pigments have continued to increase dramatically over the past few months. 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 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.”