The cost of oil and natural gas has continued to maintain historically high levels despite the recent softening of the crude prices. The continued effect on the prices of the chemical raw materials and pigments used to formulate flexo and gravure packaging inks is well documented. Solvent prices of course are also significantly affected, as are packaging and freight costs. Unprecedented market material price pressures in Europe combined with increased global demand and the reduction of some raw material production capacities have further driven price increases.
Flint Group Packaging Inks Division Europe have been and are working hard to minimize the effects of these cost pressures by realizing the synergy of site consolidation, technology integration and purchasing power improvement. The savings have not compensated for the magnitude of the increased material and energy costs imposed by the suppliers. The sustained material cost increases suffered in previous year
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