Sun Chemical to Apply Surcharges on Latin American Solvent-Based Inks and Varnishes
DORAL, FLORIDA, USA – April 15, 2020 – As a result of the recent COVID-19 pandemic, Sun Chemical Latin America will implement a surcharge on solvent-based inks and varnishes and will communicate the effective date directly to customers. Surcharges will vary depending on product types.
The pandemic has caused a global shortage and supply volatility for raw materials throughout the world, most notably, solvents and alcohols. The supply, which had been previously limited due to an increased demand for ethanol fuel, continues to narrow as the coronavirus causes a further uptick in demand for pharmaceutical and sanitized products. Global availability is decreasing, resulting in increased prices.
Due to these market conditions, Sun Chemical has accepted higher prices in order to secure its supply for the coming months. There is always a risk that governments may seize the materials to accommodate a health emergency, which would be out of Sun Chemical’s control.
Sun Chemical is working diligently to mitigate rising costs by reviewing and updating internal improvement programs and by maintaining very close communication with its suppliers and industry associations to ensure it is fully aligned to the latest procurement situation. In addition, Sun Chemical is evaluating alternative solutions for suppliers and materials and is working with its technical team to provide unparalleled support for customers. The surcharges will last until the situation normalizes.
“As raw materials see greater demand and the supply chain experiences increasing costs, we unfortunately have to pass along part of these price increases to our solvent-based inks and varnishes,” said Fernando Tavara, President, Sun Chemical Latin America. “However, we continue to work closely with our partners throughout the supply chain to manage materials and limit the effect on our customers within the coming months.”
In the weeks ahead, local Sun Chemical sales representatives will contact customers to provide more information on the adjustments to their ink products.
About Sun Chemical
Sun Chemical, a member of the DIC group, is a leading producer of printing inks, coatings and supplies, pigments, polymers, liquid compounds, solid compounds, and application materials. Together with DIC, Sun Chemical has annual sales of more than $7.5 billion and over 20,000 employees supporting customers around the world.
Sun Chemical Corporation is a subsidiary of Sun Chemical Group Coöperatief U.A., the Netherlands, and is headquartered in Parsippany, New Jersey, U.S.A. For more information, please visit our Web site at www.sunchemical.com.
Contact(s):
Heather Buchholz
Sun Chemical
Tel +1 708 236 3779
[email protected]
Matthew Parry
Mower
Tel: +1 315 413 4318
[email protected]
DORAL, FLORIDA, USA – April 15, 2020 – As a result of the recent COVID-19 pandemic, Sun Chemical Latin America will implement a surcharge on solvent-based inks and varnishes and will communicate the effective date directly to customers. Surcharges will vary depending on product types.
The pandemic has caused a global shortage and supply volatility for raw materials throughout the world, most notably, solvents and alcohols. The supply, which had been previously limited due to an increased demand for ethanol fuel, continues to narrow as the coronavirus causes a further uptick in demand for pharmaceutical and sanitized products. Global availability is decreasing, resulting in increased prices.
Due to these market conditions, Sun Chemical has accepted higher prices in order to secure its supply for the coming months. There is always a risk that governments may seize the materials to accommodate a health emergency, which would be out of Sun Chemical’s control.
Sun Chemical is working diligently to mitigate rising costs by reviewing and updating internal improvement programs and by maintaining very close communication with its suppliers and industry associations to ensure it is fully aligned to the latest procurement situation. In addition, Sun Chemical is evaluating alternative solutions for suppliers and materials and is working with its technical team to provide unparalleled support for customers. The surcharges will last until the situation normalizes.
“As raw materials see greater demand and the supply chain experiences increasing costs, we unfortunately have to pass along part of these price increases to our solvent-based inks and varnishes,” said Fernando Tavara, President, Sun Chemical Latin America. “However, we continue to work closely with our partners throughout the supply chain to manage materials and limit the effect on our customers within the coming months.”
In the weeks ahead, local Sun Chemical sales representatives will contact customers to provide more information on the adjustments to their ink products.
About Sun Chemical
Sun Chemical, a member of the DIC group, is a leading producer of printing inks, coatings and supplies, pigments, polymers, liquid compounds, solid compounds, and application materials. Together with DIC, Sun Chemical has annual sales of more than $7.5 billion and over 20,000 employees supporting customers around the world.
Sun Chemical Corporation is a subsidiary of Sun Chemical Group Coöperatief U.A., the Netherlands, and is headquartered in Parsippany, New Jersey, U.S.A. For more information, please visit our Web site at www.sunchemical.com.
| Contact(s): | |
|
Heather Buchholz |
Matthew Parry |