PARSIPPANY, N.J., USA (News release) - Sun Chemical will increase prices across its entire portfolio of packaging, commercial sheetfed and screen inks, coatings, consumables and adhesives in North America, effective immediately or as contracts allow.
The unprecedented pace of inflationary cost movements continues to impact the entire spectrum of raw material inputs and packaging components for the ink industry. In addition, the sustained shortage of available labor, along with the supply/demand dynamics in both the global and regional logistics markets, are contributing factors in driving further cost increases. Sun Chemical continues to find ways of mitigating these costs, but the magnitude and speed of cost increases require the company to increase prices to offset impacts to the business.
"Sun Chemical's priority throughout 2021 has been to keep our products flowing to our customers, allowing them to keep their facilities operating. We continue to leverage our global network to secure raw materials and needed services," said Chris Parrilli, President of North American Inks. "However, the competition for these resources is significant and is driving costs higher and faster than we can overcome through efficiency programs. This requires us to raise prices to our customers so that we can continue to secure the needed inputs to make and deliver quality products."
Sun Chemical will communicate specific increases directly with its customers. Customers with questions can reach out to their local Sun Chemical sales representative.