Ink Solutions
Flint Group Packaging has announced the intention to further increase the prices of all its ink and coating products for the Flexible packaging, paper and board and narrow web markets. Increases will vary by product and will be applied throughout the remainder of 2021.
The increasingly challenging array of conditions present across the ink and coating supply chains are showing no sign of abating. Conditions have worsened over the summer period as the availability of key raw materials, packaging and freight has tightened, driving costs to unprecedented levels. Flint Group Packaging is now facing confirmed cost increases at extraordinary levels and many key raw materials are on allocation following numerous force majeure events.
Costs are increasing rapidly and supply is tightening across all procurement categories however, the vast majority of the cost escalation can be seen in the raw material markets. Esters, resins (both UV and conventional), pigments, Titanium Dioxide (Ti02) and organic chemicals represent the majority of the increases. Raw material increases are being further compounded by a series of packaging and freight cost increases. The magnitude and speed of all increases is unparalleled.
Doug Aldred, chief commercial officer, Flint Group Packaging, said: ‘It is clear that inflationary pressures are having a considerable effect on our supply chains. Unrelenting competition for resources and energy in markets still reeling from the effects of the global pandemic is a catalyst for compounding price increases of a scale not previously witnessed. We continue to face relentless cost and availability headwinds, across multiple procurement categories.’
Local sales representative will be in contact with customers to discuss these adjustments.
Comments