Further to announcements made in March 2017, it has become clear that the raw material markets for many components within Flint Group’s packaging inks products have experienced price escalation. Many raw material markets remain highly volatile as 2017 comes to a close.
Q3 2017 saw significant increases and supplementary rises have been announced for Q4 2017. Current forecasts indicate that the price pressure will not lessen as the industry moves into 2018. These cost burdens necessitate that Flint Group packaging inks raise prices globally as of 1 January 2018.
Doug Aldred, president packaging inks for Flint Group, explained: ‘Despite our tenacious efforts to mitigate these dynamics by deploying significant capital to efficiency projects, cost pressure has been utterly relentless. The situation now necessitates that we pass some increases through the supply chain. Product quality and consistency are essential for our customers which is why we will continue to prioritise efficiency improvements so they can assuredly rely on us moving into the new year.’