The costs for raw material categories, such as photoinitiators, UV monomers, acrylic resins, pigments, isocyanates, and specialty additives have continued to rise throughout the year, with further increases experienced in Q4-2018.
Siegwerk has already worked closely with the overall supply chain to leverage its buying power and minimize costs whenever possible.
“In order to ensure that customers benefit from continued high levels of quality, service and consistency, Siegwerk now needs to pass on these higher costs,” said Dr. Jan Breitkopf, president packaging EMEA.
Despite the company’s best efforts to reduce costs, there is a clear indication that prices will both start and remain at noticeably higher levels through 2019.
Specific increases and segments affected will be communicated individually to customers in the coming weeks.