Ink manufacturer Sun Chemical has announced a price increase for its European customers across all its products, effective from 1 January
In a statement, Sun Chemical said that the percentage increase will be in the high single digits and will vary dependent on the product composition and product line. Sun Chemical will communicate specific increases directly with its customers.
According to the ink manufacturer, despite average raw material prices stabilising in 2012, costs have risen on an annual basis and further increases are expected for 2013.
It said that these are mainly due to production and environmental restrictions on key materials, weaker value of the Euro and high demand levels.
Said Felipe Mellado, Sun Chemical's chief marketing officer, said: "The high levels of raw material costs are unprecedented and as a result make it necessary for us to keep our ink prices under review.
"We work proactively with our supply chain partners to manage and minimise costs, but due to the economic reality, cost pressures have been constant and significant price increases are being passed on to the inks industry.
"To ensure we maintain high levels of product quality and service as well as profitability, it has become necessary to further increase customer prices."