Sun Chemical has announced price increases in Europe of 6 to 12 percent, depending on the specific products, due to continued and rapid increases in raw material prices as well as shortages of many key ingredients, mainly for pigments' manufacturing. The increases, effective from Nov. 1, 2007, will cover Sun Chemical's complete portfolio, in all the markets in which it operates.
Felipe Mellado, corporate vice president marketing, Sun Chemical Europe, said: "Sun Chemical is proactively working with its supplier base, monitoring industry conditions and continuing internal efficiency programs to mitigate the impact of rising costs, material scarcities and transportation availability. However, given the rapidity and scale of cost increases, despite fluctuations in the oil price, we are forced to implement price increases to cover basic costs that are not expected to drop any time soon.
"We will work closely with all our customers and partners to establish how the price increase will affect their individual businesses, with the aim of minimising the impact as much as possible. The terms and conditions of existing contracts will be honoured."
"In Europe we are operating in a challenging environment and these increases will ensure our customers can count on us to continue to offer the best total value in the industry through innovation, technology, superior service and ease of doing business," David Meldram, senior vice president, Sun Chemical, added.