PARSIPPANY, N.J., U.S.A. (News release) -- Sun Chemical will increase prices effective immediately across its entire portfolio of packaging, commercial sheetfed, and screen inks, coatings, consumables, and adhesives in Europe, Middle East and Africa, effective October 1, 2022.
The current geopolitical situation in Europe continues to upset the unprecedented inflationary trends further, with severe impact onto operating costs--including utilities and labour costs--through the entire supply chain. Sun Chemical continues to strive to find ways of mitigating these costs, but the magnitude and speed of cost increases requires the company to further increase prices.
"Sun Chemical's priority has been to keep supplying our customers, allowing them to keep their facilities operating," said Mehran Yazdani, President, Global Packaging and Advanced Materials. "Sun Chemical's global reach has helped secure the sourcing of raw materials and maintain production, however, the costs to secure those materials, manufacture our products, and deliver them to our customers have continued escalating to a level that requires us to raise further prices and surcharges effective immediately for all products. This will ensure we can continue a steady flow of our quality products to customers. Without signs of stabilisation so far, the situation will need to be adjusted as it goes, and no price guarantee can therefore be given for any period."