Flint Group announces further price increases
Tuesday, November 19, 2019
Flint Group has announced that it is to increase prices of its offset inks across Europe.
The manufacturer said that price increases across its offset ink range will vary according to product lines and technologies based on the make-up of raw materials used, and that customers will be advised by their local sales contacts.
The company cited continued raw material shortages in Q4 of this year as well as challenging supply chain conditions for the decision.
Announcing the price hikes, Flint CPS chief procurement officer and senior vice-president for global sales, Michael Podd, highlighted the issues posing the greatest challenges.
Firstly, due to new legislation being introduced by the International Maritime Organisation in 2020, low sulphur-content oils, which are used to produce carbon black for the printing industry, are now being sourced by the marine fuel industry therefore increasing demand and pushing prices up by 20%-30% .
Additionally, tougher environmental laws on pigments and base chemicals manufacturing in India and China have led to factory closures, again impacting demand and price.
Finally, Podd noted issues around continually increasing freight costs including driver and equipment shortages and increased fuel costs.
“Flint Group will work closely with our customers to manage through this price increase and keep them informed,” he said.
“And our preferred status with suppliers helps customers rest assured that Flint Group is best positioned to meet their ink orders without sacrificing quality,” he added.