Flint Group announces global price increases for its Packaging, Narrow Web and Sheetfed products
Due to highly volatile raw material markets and an uncertain macro-level landscape, Flint Group is introducing a global price increase for its Packaging, Narrow Web and Sheetfed customers.
Following a prolonged period of significant raw material cost inflation, force majeure announcements and changes in the supply outlook of raw materials for printing inks and varnishes, Flint Group Packaging, Narrow Web & Sheetfed division confirms price increases of between 4% - 7%, effective April 3rd 2017. Mr. Doug Aldred - President of the Packaging, Narrow Web & Sheetfed division, announcing the decision to adjust prices stated, “The increases will vary by product group and our business managers will be in contact with their customers over the next few days to discuss the details.”
On 22nd February, Flint Group announced price increases and a variable surcharge due to the supply constraints and price inflation seen in the global Titanium Dioxide (Ti02) market. Nonetheless, the security of supply for many ink-related raw materials has recently worsened (in addition to the Ti02 crisis), thus expediting a further general price increase announcement to cover the rising cost landscape.
Mr. Adhemur Pilar - President Flint Group Latin America confirms, “We have been subject to compelling volatility in our supply chain for some time now; our focus has always remained on securing product quality and long term availability. Unfortunately, this has led to the higher costs that we are no experiencing.”
Further information in relation to the raw material cost escalations can be found on the Flint Group website (http://www.flintgrp.com/en/news information/press-releases/) via a “Raw Material Trends” report.
In conclusion Mr. Aldred emphasised, “Flint Group is working tirelessly to mitigate the costs of these dramatic increases in raw materials being passed to our valued customers by investigating alternative sources of supply and committing capital to efficiency projects. However, in such volatile conditions the Group has no option but to review the sustainability of current pricing models and adjust accordingly. Flint Group remains committed to supporting our customers in a responsible manner as a dedicated partner.”