Faced with continued increases in raw materials and operating costs, Sun Chemical has announced North American price increases up to 11 percent for commercial, publication and news inks effective Oct. 1, 2007.
“We have seen the return of significant cost pressures on raw materials during the last six months. Notably, colorants have been dramatically impacted by the actions of the Chinese government which include shutting down intermediates manufacturing operations in order to address environmental concerns, as well as implementing a new policy that eliminates the VAT tax refunds of 13 percent that Chinese pigment manufacturers had previously benefited from for many years,” said Greg Lawson, group president, Sun Chemical. “In addition, the global petroleum market has returned to near record high pricing levels as capacity concerns coupled with low inventory levels have driven up the price of crude, petroleum products and all of the many chemicals derived from them.”
“We will continue to invest in those areas that provide our customers with innovative products and services allowing them to present the best value propositions in the market,” Mr. Lawson added.