Anthony Locicero, Associate editor03.03.21
Flint Group Packaging said it intends to increase the prices of its ink and coating products, effective April 1, 2021.
The company said it is facing an extraordinarily turbulent set of supply chain conditions, exacerbated by the global pandemic.
Costs are increasing and supply is tightening across almost all procurement categories: multiple petrochemical derivatives – such as resins & solvents; pigments, and freight, are three of the most volatile areas, according to Flint Group.
“The unusual set of supply chain conditions currently witnessed are some of the most severe I have seen," said Doug Aldred, president of Flint Group Packaging Inks. "Our business is facing substantial cost and availability headwinds, across multiple raw material categories. Resins, solvents and pigments (including Titanium Dioxide), are particularly problematic."
Flint Group Packaging said it continues to collaborate with all its global supply chain partners, to mitigate as many negative effects as possible. However, recent upstream force majeure announcements and the acute global freight imbalance is impeding some corrective actions, the company added.
“Regrettably, despite our tenacious efforts to offset cost and risk for our valued customers, the pronounced and prolonged pressure – experienced in some categories since mid-2020 – has forced us to act," said Emmanuel Bareaud, president of Flint Group Narrow Web. "Some raw materials, such as UV resins, additives and pigments, are reaching cost peaks not witnessed in the last 10 years or more."
