hubergroup Announces Price Increases

As a result of continuously rising costs for raw materials, energy, packaging and transportation, hubergroup has announced price increases.

“When compared to last year, the aggregated cost for the basket of raw materials consumed for our printing inks, varnishes and auxiliaries has risen by 30 percent globally,” said  Heiner Ringer, CEO of hubergroup. “What makes matters worse are equal increases in energy, packaging and transportation with no end in sight. On the contrary, the upward spiral in prices has accelerated for all regions during the last quarter.

“No enterprise can absorb sustained raw material cost increases of such magnitude forever,” Mr. Ringer noted. “In the past years we compensated for such upward price movements through rationalization measures, improved formulations and productivity enhancements for our customers. Today we are faced with no alternative other than passing on this extreme increase of raw material cost to our customers.

“Our sales organization will discuss relevant and specific measures with our customers,” Mr. Ringer said. “These will have to be in place as soon as possible. Sales is also advised not to enter into any longer term agreements in order to protect our customers and us. In these trying times we need to be flexible to respond adequately to the volatility in the raw material markets.

“The hubergroup pledges to continue to act as a reliable partner to our customers, who will jointly face the challenges in the market and offer economical solutions to the printing business community,” Mr. Ringer concluded. “We ask our customers for their understanding and support for these extraordinary measures during these extraordinary times.”