Plymouth, MI - 27 August 2007 - Flint Group has announced the following price increases on inks in North America, effective October 1, 2007. The increases come as a result of a continuing and unprecedented rise in raw material, transportation and energy costs.
Publication Gravure - 10%
Publication Heatset - 8%
News Ink - 6%
Sheetfed - 5% to 7% depending on product technology and color.
Packaging - up to 12% depending on product technology and color
Bill Miller, President, Flint Group North America, commented that the increased global consumption of petroleum and petroleum derivatives, along with limited refinery capacity, continue to be the key drivers in the cost of raw materials. In addition, recent actions taken by the Chinese government to close chemical operations that are believed to contribute to air and water pollution and the elimination of refunds of the Chinese VAT (value added tax) are also contributing factors. Both of these actions affect raw materials, intermediates and chemicals supplied to the printing ink industry on a global basis.
"We are committed to pursuing the best source and lowest cost materials available that allow us to supply the consistent, high quality products that our customers expect,"" said Miller. He added that Flint Group representatives will be contacting their customers with more specifics in the next two weeks.
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