INX International Ink Announces Price Increase
SCHAUMBURG, IL—August 10, 2010—INX International Ink Co. has announced a price increase effective September 1, 2010. Ongoing raw material supply shortages are continuing to have a serious effect on printing ink production.
Company President Rick Clendenning states the economic downturn in 2008 caused many of the printing ink industry’s raw material suppliers to reduce operating capacity. Several suppliers permanently shut down manufacturing plants. Over the past 12 months, demand has increased and raw material suppliers are still not positioned to adequately supple and service this increase in demands.
“These ongoing raw material supply shortages and cost increases are continuing to have a serious impact on printing ink costs, supply and production. Key materials such as Titanium Dioxide, Violet 23, UV Monomers and Acrylic Acids (Acrylic Resins) have increased in cost and many are now on restricted supply,” Clendenning said. “We understand and respect the fact that all markets are still recovering from the 2008 economic downturn, and we will continue to do everything possible to mitigate printing ink price increases in all markets.”
This increased demand imbalance on specific global raw materials and chemical feed stock markets has forced INX International Ink Co. to take the following actions effective Sept. 1: Solvent based white inks and water based white inks will increase in price from 4-6 percent. Inks containing Violet 23 (purple) and water coatings will each increase 8 percent. Water base inks, bases, clears and blends will rise 2-4 percent, and UV inks and coatings will be increased 8-10 percent.
INX International Ink Co. will strategically address the impact of the above mentioned raw materials as related to specific inks and markets rather than generically mandated increases across all product lines and market segments. INX sales representatives are available to discuss with customers any specific questions or concerns related to this announcement.