Increased, incremental cost escalation has forced the Flint Group to raise the prices of its packaging inks products. “Further to announcements made in March of 2017, it’s become clear that the raw material markets for many components within Flint Group’s packaging inks products have experienced price escalations. Many raw material markets remain highly volatile as 2017 comes to a close,” said the company. “Q3 2017 saw significant increases and supplementary rises have been announced for Q4 2017. Current forecasts indicate that the price pressure will not lessen as the industry moves into 2018. These unique cost burdens necessitate that Flint Group Packaging Inks raise prices globally as of January 1, 2018. Our sales representatives are currently in the market discussing the magnitude of increases for each customer and segment.”
Earlier this year, company officials revealed that these inks have been subject to compelling volatility in their supply chain for quite some time, but that its focus has always remained on securing product quality and long-term availability. Unfortunately, this has led to the higher costs that it’s currently experiencing. In a previous statement, Doug Aldred, President of Flint Group Packaging Inks, added: “Flint Group is working tirelessly to mitigate the costs of these dramatic increases in raw materials being passed to our valued customers, by investigating alternative sources of supply and committing capital to efficiency projects. However, in such volatile conditions, the group has no option but to review the sustainability of current pricing models and adjust accordingly. Flint Group remains committed to supporting our customers in a responsible manner as a dedicated partner.” Further information in relation to the raw material cost escalations can be found on the Flint Group website via a Raw Material Trends report.