The primary reasons for these cost increases faced by Sun Chemical include the continued high prices of oil and natural gas, combined with governmental policies in China and global shortages of certain raw materials.
“Increased costs are having a significant impact on most industries in Europe, and our industry is no exception," David Meldram, president of Sun Chemical Europe, said. "We continue to monitor the business environment in the sectors in which we operate. We are working proactively with our suppliers and we are taking action to keep costs to a minimum. However, given the speed and scale of these rises, it is necessary to increase prices for the commercial, packaging and industrial markets.”
“We are committed to offering our customers world-class products and the highest level of service through quality, service and innovation, and these price increases are essential in order for us achieve this," Felipe Mellado, corporate vice president and group managing director for Sun Chemical Europe, added. "We will continue to provide proactive support and advice to our customers, especially during this challenging period.”
In July, Sun Chemical Europe announced price increases of 10 – 20% for the Publication market depending on the product.