Kodak has announced a global price increase for its offset printing plates of up to 9%.
A statement said that over the past 12 months the company had absorbed significant increases in costs for the raw materials that are used to produce its plates, including aluminium, chemicals and packaging materials. It said it continued to improve productivity and efficiencies but the magnitude of the raw materials cost increases had made it necessary to increase prices, which were increased in China on 1 January 2017.
In its Q2 results published last month, Kodak reported an increase in Sonora plate volumes alongside declining like-for-like revenues.
Kodak Print Systems Division president Brad Kruchten said the company had been left with “no room” to continue to absorb escalating raw material costs without raising its prices. He said Kodak’s approach to the price implementation would lead to more technically advanced products being affected the least, while Kodak’s “more mature offerings” will see higher price increases.
“This, in turn, will help drive long-term viability, profitability and sustainability for our printers and our industry partners,” he said.
Kodak said details of the new pricing structure would be communicated to customers and dealers across the world shortly. It is not the first major manufacturer to signal a plate price rise, after Fujifilm increased prices by 10% earlier this month.