Flint Group North America Announces Price Increases and Surcharges on Commercial and Packaging Inks
PLYMOUTH, MI—July 8, 2008—The printing ink industry continues to experience unprecedented increases in all of our raw materials – pigments, chemicals, freight and packaging. These increases are directly and indirectly related to crude oil increases as well as large swings in the manufacturing capacity of some of the primary raw material manufacturers.
As a result of the surcharges and price increases imposed on our business, Flint Group is forced to pass these increases on to their customers.
Today, Flint Group announced price increases and surcharges on all packaging and commercial inks sold in North America, effective on all products billed on or after July 21, 2008.
“Although the price hikes are difficult for businesses to manage, the larger issue is to proactively ensure ongoing supply of the critical raw materials,” says Diane Parisi, vice president supply chain for North America. “Our supply chain organization works closely with our business management to ensure the best products and service remain the core of our offering.”
Flint Group will contact their customers directly.
All solvent, energy curable and paste products (inks, coatings, extenders/blend vehicles): $0.10 per pound
Water-based inks, coatings, extenders/blend vehicles and additives: $0.06 per pound
Solvent liquid ink colors, extenders/blend vehicles and additives: 5%
Solvent liquid blacks and all solvent and water whites: 7%
Water-based ink colors and blacks: 4%
Conventional sheetfed paste inks: 6%
All energy curable products: 6%
Flint Group is dedicated to serving the global printing and packaging industry with five specialized business units: Flint Group’s ink companies develop and market a wide range of conventional and UV printing inks on a global basis, with regional operations providing local service throughout the world. Flint Group Flexographic Products specializes in photopolymer printing plates, flexographic sleeve systems as well as washout solvents and platemaking equipment. Flint Group Narrow Web is dedicated to the narrow web ink market, including labels, product decoration and package printing. Flint Group Pigments produces a range of pigment products and additives for use in inks and other colorant applications. Day International develops and distributes offset printing blankets and sleeves, pressroom chemicals and diecutting supplies. Headquartered in Luxembourg, Flint Group operates more than 170 facilities worldwide and employs some 8300 people. Revenues for 2007 are € 2.3 billion ($US 3.1 billion), positioning the company as the number one or number two supplier in every major region it serves. For more information, please visit www.flintgrp.com.