Sun Chemical will increase prices for packaging, commercial sheetfed, and news inks in Canada between 5-12 percent effective January 1, 2009.
The price of oil has receded in recent weeks, but the costs of pigments, pigment intermediaries, resins, solvents and other key additives continue to increase, said Rod Staveley, president of Sun Chemical Canada. These components make up the largest percentage of most ink products that we manufacture. The rapid depreciation of the Canadian dollar is another factor affecting the price increases in Canada. While the recent price of oil has helped reduce these impacts, our total costs continue to increase.
We will continue to work on controlling our own costs closely with our supply chain partners, to improve our internal operations and to develop new value oriented products that can help customers grow their business.