Flint Group announces global price increases for its Packaging, Narrow Web and Sheetfed products
15th March 2017 - 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 now 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.”
For further information, please contact Deanna Klemesrud at Deanna.firstname.lastname@example.org .
Flint Group is dedicated to serving the global printing and packaging industry. The company develops, manufactures and markets an extensive portfolio of printing consumables and printing equipment, including: a vast range of conventional and energy curable inks and coatings for most offset, flexographic and gravure applications; pressroom chemicals, printing blankets and sleeves for offset printing; photopolymer printing plates and sleeves, plate-making equipment and flexographic sleeve systems; pigments and additives for use in inks and other colourant applications; Flint Group also designs, develops and delivers web-fed digital colour presses for labels and packaging applications, document printing, as well as commercial printing as well as platemaking equipment for the newspaper industry and computer-to-plate (CtP) solutions for the commercial printing market; With a strong customer focus, unmatched service and support, and superior products, Flint Group strives to provide exceptional value, consistent quality and continuous innovation to customers around the world. Headquartered in Luxembourg, Flint Group employs some 7900 people. Revenues for 2015 were € 2.2 billion. On a worldwide basis, the company is the number one or number two supplier in every major market segment it serves. For more information, please visit www.flintgrp.com