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Sun Chemical Europe Raises Prices on Sheetfed Inks and Coatings
Watford, UK
- December 14, 2004 -- Sun Chemical has announced price increases of 4 to 8 percent on its sheetfed inks and coatings, effective Jan. 1, 2005, according to Felipe Mellado, Sun Chemical Corporate Vice President Europe. These increases include all sheetfed inks and coatings sold in Europe.
"Due to the current imbalance in the supply and demand of many of the raw materials used in the formulation of printing inks and coatings, Sun Chemical has had to accept multiple price increases over the last months while also dealing with shortages and allocations on some raw materials," Mellado said. "The underlying factors of this imbalance include strong worldwide demand for specialty chemicals, high oil prices, inflation, poor profitability of the chemical industry and as a consequence, a lack of investment in new capacity. This problem is further compounded by the fact that we are facing increasing cost pressure from environmental compliance, transport, packaging, and other inflationary operating cost increases. "
Mellado noted that Sun Chemical continues to make considerable efforts to reduce cost in all controllable activity areas, however "we are unable to make up for the rising costs outlined above."
At the same time, he added, Sun Chemical continues to offer the highest levels of local service, and remains committed to providing innovative technology and services to the Commercial industry.
About Sun Chemical
Sun Chemical, the world’s largest producer of printing inks and pigments, is a leading provider of materials to packaging, publication, coatings, plastics, cosmetics, and other industrial markets. With annual sales approaching $4 billion, Sun Chemical has over 12,000 employees supporting customers around the world. The Sun Chemical Group of companies includes such well-known names as Coates Lorilleux, Gibbon, Hartmann, Kohl & Madden, Swale, Usher-Walker, Rycoline and US Ink.
Sun Chemical Corporation in the U.S. and Sun Chemical Limited in England are subsidiaries of Sun Chemical Group B.V., the Netherlands. Sun Chemical has headquarters in Parsippany, New Jersey, U.S.A.; Watford, England; and Weesp, the Netherlands. For more information, please visit our Web site at www.sunchemical.com.
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