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Sun Chemical Announces 4% to 12% Price Increases for Products Sold in Europe
Slough, England
- October 27, 2006 -- Sun Chemical has today announced price increases in Europe, ranging from 4% to 12%, depending on the product. This is due to continued, rapid increases in raw material prices, shortages of key materials and cost increases due to new EU regulations affecting the chemical industry, such as REACH and ATEX. The increases, effective November 1, will cover inks, coatings, fountain solutions and other printing consumables supplied by the company.
Felipe Mellado, corporate vice-president, marketing, Sun Chemical European Inks, 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 speed and scale of these cost increases, and despite fluctuations in the oil price, it has been necessary to implement price increases to cover basic costs. We would not expect these to drop any time soon."
David Meldram, president, Sun Chemical European Inks, 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 of approximately $4 billion, Sun Chemical has over 12,000 employees supporting customers around the world. The Sun Chemical Group of companies includes such established 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.; Slough, England; and Weesp, the Netherlands. For more information, please visit our Web site at www.sunchemical.com.
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