As a consequence of continuously rising raw material prices, Flint Group is raising prices for printing inks in all market segments in Europe with immediate effect. All existing customer supply contracts will be honored.
Global demand for chemicals and associated derivatives has continued to escalate. As a result, prices for a wide range of raw materials for the production of inks have reached record levels. Most recently, China, one of the world most important producers of pigments and precursors for pigments, announced the discontinuation of VAT refunds for export material effective from July 1, 2007. This alone has caused double digit price increases for pigments, pigment precursors and many other key raw materials.
“Currently, our industry is experiencing extremely tight global supply of chemical feedstocks and continually rising raw material costs,” said Dr. Dirk Aulbert, president ,Flint Group Europe. “We remain committed to meeting our customer needs for consistent, high-quality products with reliable supply. But absorbing even higher costs in this environment is simply not an option. These conditions have forced us to raise our ink prices.” He added that Flint Group representatives will be contacting their customers with more specifics soon.