Flint CPS Announces Price Increases for Heatset and Coldset Inks Throughout North America
The continued impact of the Coronavirus pandemic on the global supply chain has been well documented by a wide array of suppliers in to the print industry. The printing industry continues to face numerous challenges, such as rapidly increasing costs, availability of raw materials and freight issues delays.
Furthermore, in other regions of the word, such as China, the government has implemented a long term plan to reduce carbon dioxide emissions by reducing their energy consumption, with an Energy Program Initiative. This will have a significant impact on the print industry.
Costs continue to increase across all raw material supply chain categories including; pigments, resins & solvents and mineral & vegetable oils. In addition, there have recently been alarming freight cost increases, with great challenges related to lead times, transit times and container availability.
The CPS Procurement team has worked persistently to mitigate the adverse effects of these challenges, taking all measures to avoid any material shortages and daily logistic interruption. Nevertheless, due to the scale of these cost increases, CPS cannot fully offset the cost impact.
Jean Menard, Vice President of Web Sales North America at Flint CPS said that “as a market leading ink manufacturer, our primary responsibility is to ensure we meet the demand requirements of our partners without disruption to supply. However, in order to ensure we meet our responsibilities to our customers our temporary surcharge covering increased freight costs will be subject to an increase effective November 1st, 2021. Furthermore, a price increase for both Heatset and Coldset inks will be implemented, effective January 1st, 2022.”
Flint CPS continues to remain committed to its customer base and will continue to leverage global supply chain resources to minimize the impact of the ongoing market place challenges where possible.
Flint CPS’ customer base will be contacted by their sales representative in due course to discuss the increases in more detail.
The preceding press release was provided by a company unaffiliated with Printing Impressions. The views expressed within do not directly reflect the thoughts or opinions of Printing Impressions.