Mitsubishi HiTec Paper to up all prices by 20%
Monday, July 26, 2021
Mitsubishi HiTec Paper Europe is set to roll out another steep price rise – this time for its entire portfolio.
The business, a German subsidiary of Japanese company Mitsubishi Paper Mills, said in a statement that a price increase of 20% for its entire product range – Thermoscript, Jetscript, Giroform, Supercote, and Barricote – would apply to deliveries from 1 September 2021.
This was due to “the continued sharp rise in energy costs [and] significant cost increases in the areas of logistics and raw materials”.
“This step is unavoidable so that we can continue to offer our partners our wide range of coated speciality papers in the well-known high quality,” the company added.
Mitsubishi said customers would be contacted directly by its sales team.
The business raised prices for its coated specialty papers by “up to 10%” as of 1 June 2021. This move had followed a previous 5% price increase on deliveries of its entire Jetscript range, which came into effect from 1 May 2021.
A raft of papermakers, plate, and ink manufacturers have been forced to put up prices, or implement surcharges, in what has been described as a perfect storm of spiralling raw materials and transport costs.