Sun Chemical to Raise Prices on Inks and Coatings in the U.S. and Canada
Faced with continued volatility in the global supply chain and increases in the costs of certain raw materials, Sun Chemical will raise prices on June 1, 2012 in the U.S. and Canada by at least
• 4% for all screen products.
• 7% for all white inks.
• 3% for all non-white liquid products.
• 3% for all energy curable products.
• $0.04 per pound on all coldset products.
“We have seen unrelenting cost increases for raw materials such as water-based acrylics, energy curing resins, distillates, ink oils and titanium dioxide, which has another price increase announced for July 1st,” said Charles Murray, president of North American Inks, Sun Chemical. “While we continue to work closely with our supply chain partners to deliver products with the highest-possible value and enhanced competitive edge for our customers, we simply cannot offset the drastic raw material price increases this year across all our product lines.”
Sun Chemical to Raise Prices on Inks in Brazil
Faced with the continued rise in the cost of certain raw materials and a weakening of the real, Sun Chemical increased prices on May 1, 2012 in Brazil on:
• Solvent-based white inks by 5% plus 3%, according to currency variation.
• Solvent-based color inks by 3% plus 3%, according to currency variation.
• Water-based inks by 5% plus 3%, according to currency variation.
• Sheetfed offset inks by 5% plus 3%, according to currency variation.
• Varnishes, primers, and additives by 3% plus 3%, according to currency variation.
“Due to the continuing volatility in the supply chain and the continued rising prices of such raw materials as titanium dioxide and crude oil, this price adjustment is necessary,” said Gregory Lawson, president, Sun Chemical Latin America. “Sun Chemical is committed to continue in its efforts to maintain the lowest possible raw material, manufacturing and logistics costs, and this announcement is the absolute minimum price increase we could incur. Our supply and technical teams are continuing to work through this global instability to deliver the highest-possible value and enhanced competitive edge for customers.”
Siegwerk Will Selectively Increase Prices of Packaging Inks in EMEA
Due to the ongoing uncertainty on the markets of raw materials for packaging inks in 2012, prices in the supply chain continue to be subject to upward pressures.
This trend is primarily driven by a continued imbalance of supply and demand of feedstocks on a worldwide scale. The speed and impact by which prices for raw materials increased in the period 2010-2011 has never been seen before. Siegwerk’s expectations that the pressure on raw material prices would relieve in early 2012 have unfortunately not come true, and the company’s leaders know by now that at least until the end of this calendar year, upward pressure will continue.
As a result of the continuous increase of raw material costs, some products have turned unprofitable. Therefore, Siegwerk will have to significantly increase prices of individual products in the EMEA region (Europe, Middle East, Africa). The impact will depend on the customer’s individual product portfolio and differ from business unit to business unit. In those cases where the market is not capable of accepting higher prices, certain articles will no longer be offered.
Central Ink Announces Price Increases
After careful review, the continued volatility of intermediate raw materials can no longer be absorbed.Therefore, Central Ink Corporation announces prices increases of 6% to 8% across all product lines (excluding news black) effective on any ink ordered or shipped after June 14, 2012.
These increases are the result of instability and shortages on a global basis of non-oil related intermediates.
Sensient Technologies Reports Results for the 1Q 2012
Sensient Technologies reported new first quarter records for revenue, operating income and earnings per share for the three months ended March 31, 2012.
Consolidated revenue increased 4.6% to $365.7 million in the first quarter, compared to $349.7 million reported in the comparable period for 2011. Operating income for the three months ended March 31, 2012, was $46.5 million, an increase of 6.6% over the $43.6 million reported in the first three months of last year.
“The company continues to perform very well,” said Kenneth P. Manning, chairman, president and CEO of Sensient Technologies. “We achieved solid revenue and operating profit growth during the first quarter and we expect to sustain this level of growth, in local currency terms, for the rest of the year.”