Effective July 1, the Flint Group is raising prices in Europe across all its ink products and among certain pressroom chemicals, owing to a combination of what it described as recession-driven supply-chain de-stocking, lack of replacement capacity mixed and increased global demand for key raw materials.
In some cases, raw materials costs have increased by over 50% in the last six months, and Flint said the outlook "offers no sign of relief in the short term."
Flint is raising the price of coldest black by 0.15 euro/kg ($0.8 per pound), coldest colors by 0.25 euro/kg ($0.30 per pound) and heatset inks also by 0.25 euro/kg. In addition, prices for some pressroom chemicals will see increases of from 5% to 8%.
"Supply-chain shortages are having an astonishing impact on our key raw materials. The outlook is for the volatility to continue, and for there to be ongoing pressure on our costs for the foreseeable future," Flint Group Product Management Vice President Nick Brannan said in a statement.
In announcing the price hikes, Flint said that despite its efforts to contain costs "its ability to continue absorbing the increases" has ended owing to the size and scope of the situation.
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