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Sun Chemical Europe Announces 6% to 10% Price Increases Due to Substantial Increases in Raw Material Costs
Watford, England
- November 22, 2005 -- Sun Chemical today announced price increases in Europe of 6 to 10%, depending on the specific products, due to continued and rapid increases in raw material prices as well as shortages of many key ingredients. The increases, effective from January 1, will cover inks, coatings, fountain solutions and other printing consumables supplied by the company.
Felipe Mellado, Corporate Vice President Marketing, Sun Chemical Europe, said: "Sun Chemical is proactively working with its supplier base, monitoring industry conditions and continuing internal efficiency programmes to mitigate the impact of rising costs, material scarcities and transportation availability. However, given the rapidity and scale of cost increases, we are forced to implement price increases to cover basic costs that are not expected to drop any time soon."
David Meldram, Senior Vice President, Sun Chemical, said: "In Europe we are operating in a challenging environment and these increases will ensure our customers can count on us to continue to offer the best total value in the industry through innovation, technology, superior service and ease of doing business."
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, Hartmann, Kohl & Madden, 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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