Flint Group Announces Price Increases on Inks in North America
PLYMOUTH, MI—August 27, 2007—Flint Group has announced the following price increases on inks in North America, effective October 1, 2007. The increases come as a result of a continuing and unprecedented rise in raw material, transportation and energy costs.
• Publication Gravure - 10%
• Publication Heatset - 8%
• News Ink - 6%
• Sheetfed - 5% to 7% depending on product technology and color.
• Packaging - up to 12% depending on product technology and color
Bill Miller, President, Flint Group North America, commented that the increased global consumption of petroleum and petroleum derivatives, along with limited refinery capacity, continue to be the key drivers in the cost of raw materials. In addition, recent actions taken by the Chinese government to close chemical operations that are believed to contribute to air and water pollution and the elimination of refunds of the Chinese VAT (value added tax) are also contributing factors. Both of these actions affect raw materials, intermediates and chemicals supplied to the printing ink industry on a global basis.
“We are committed to pursuing the best source and lowest cost materials available that allow us to supply the consistent, high quality products that our customers expect,” said Miller. He added that Flint Group representatives will be contacting their customers with more specifics in the next two weeks.
Flint Group is dedicated to serving the global printing, converting, graphic arts and color consuming industries with five specialized business units: Flint Group’s ink companies develop and market a wide range of conventional and UV printing inks on a global basis, with regional operations providing local service throughout the world. Flint Group Printing Plates specializes in photopolymer printing plates, washout solvents and platemaking equipment. XSYS Print Solutions is dedicated to the narrow web ink market, including labels, product decoration and package printing. Flint Group Pigments produces a range of pigment products and additives for use in inks and other colorant applications. Day International develops and distributes offset printing blankets and sleeves, pressroom chemicals, flexographic sleeve systems and diecutting supplies. Headquartered in Luxembourg, Flint Group operates more than 170 facilities worldwide and employs some 8300 people. Revenues for 2007 are estimated to be Euro 2.55 billion ($3.5 billion), positioning the company as the number one or number two supplier in every major region it serves.