“Severe increases in acrylic acid prices, with more predicted, coupled with widespread shortages of most raw materials used in the production of energy curable inks and varnishes has forced the costs of these products up to a level that we can no longer contain” explained Nick Brannan, vice president of product management, Flint Group Print Media Europe.
As a result, UV curable inks will increase by 6%, UV varnishes by 7% to 15% depending on the product, and water-based coatings will increase by 6%.
“The unstable supply situation which is driving prices up globally, is impacting heavily on our key raw materials,” said Mr. Brannan. “We continually maximize our technical and procurement infrastructure to address market and economic challenges, and we have robust global purchasing processes in place enabling us to leverage our relationships with reliable suppliers.”
Flint Group has been working very hard to mitigate the increases, through various cost containment initiatives, whilst at the same time keeping customers informed of the spiraling costs. Now its ability to continue absorbing the increases has come to end due to the magnitude and widespread nature of the situation.