Sun Chemical to Increase Prices on Packaging Inks
PARSIPPANY, NJ—April 4, 2011—Due to the serious shortages and unrelenting cost increases of the raw materials needed to manufacture white and Violet 23 packaging inks, effective May 1, 2011, Sun Chemical will raise prices on all solvent- and water-based white inks by a minimum of 10 percent, and all solvent- and water-based Violet 23 inks by a minimum of 20 percent, dependent upon the amount of Violet 23 in the specific color formulation.
Sun Chemical will continue to monitor the situation with raw materials and may need to make further price adjustments for other packaging inks as necessary.
“We regret needing to take this action, but the shortages and subsequent increases in costs for the raw materials needed to manufacture packaging inks have placed us in a position where we need to raise our prices,” said Tony Renzi, vice president of product management, Liquid Inks, North American Inks, Sun Chemical. “Despite these challenges placing us in this regrettable position, we are looking for ways to work closely with our supply chain partners on controlling our own costs.”
About Sun Chemical
Sun Chemical, a member of the DIC group, is the world’s largest producer of printing inks and pigments and a leading provider of materials to packaging, publication, coatings, plastics, cosmetics, and other industrial markets. With annual sales of more than $3.5 billion, Sun Chemical has over 9,500 employees supporting customers around the world.
Sun Chemical Corp. is a subsidiary of Sun Chemical Group Coöperatief U.A., the Netherlands, and is headquartered in Parsippany, NJ. For more information, please visit our Website at www.sunchemical.com.
Source: company release.