10.31.18
Flint Group Packaging Inks confirms the implementation of a North American price increase to alleviate raw material and freight cost increases.
As of Nov. 15, 2018, the price increase will be active for all Flint Group Packaging Inks products sold in the US and Canada. The progressively challenging trading environment is forcing Flint Group to look carefully at its cost base, ensuring the sustainability of supply for all its valued customers.
The recent trade tariffs imposed by the US government are soon to rise from 10% to 25%, a cost Flint Group cannot bear alone. Additionally, the market has seen significant cost increases in raw materials and freight across the North American region, which place further pressure on Flint Group’s cost base.
“As stated in December 2017, we continue to deploy significant capital to efficiency projects in order to mitigate as many headwinds as possible; however, the combined impact of the tariffs, raw material and freight inflation has become untenable,” Doug Aldred, president Packaging Inks & Resins, said. “We will continue to drive all cost mitigation initiatives with rigor and tenacity, protecting our valued customers from further increases as much as feasibly possible.”
As of Nov. 15, 2018, the price increase will be active for all Flint Group Packaging Inks products sold in the US and Canada. The progressively challenging trading environment is forcing Flint Group to look carefully at its cost base, ensuring the sustainability of supply for all its valued customers.
The recent trade tariffs imposed by the US government are soon to rise from 10% to 25%, a cost Flint Group cannot bear alone. Additionally, the market has seen significant cost increases in raw materials and freight across the North American region, which place further pressure on Flint Group’s cost base.
“As stated in December 2017, we continue to deploy significant capital to efficiency projects in order to mitigate as many headwinds as possible; however, the combined impact of the tariffs, raw material and freight inflation has become untenable,” Doug Aldred, president Packaging Inks & Resins, said. “We will continue to drive all cost mitigation initiatives with rigor and tenacity, protecting our valued customers from further increases as much as feasibly possible.”
