PARSIPPANY, N.J., USA – January 27, 2022 – Sun Chemical will increase prices across its entire portfolio of packaging, commercial sheetfed, and screen inks, coatings, consumables, and adhesives in Europe, Middle East, Africa, effective immediately or as contracts allow.
The unprecedented pace of inflationary cost movements continues to impact the entire spectrum of raw material inputs and packaging components for the ink industry, while raw material availability remains an ongoing concern. In addition, the sustained inflation of utilities and the supply/demand dynamics in both the global and regional logistics markets are contributing factors in driving further cost increases. Sun Chemical continues to find ways of mitigating these costs, but the magnitude and speed of cost increases require the company to increase prices to offset impacts to the business.
“Sun Chemical’s priority throughout 2021 has been to keep supplying our products to our customers, allowing them to keep their facilities operating. We continue to leverage our global network to secure raw materials and needed services,” said Mehran Yazdani, President, Global Packaging and Advanced Materials. “However, the competition for these resources is significant and the magnitude of the inflationary pressures is higher and faster than we can overcome through efficiency programs. This requires us to raise prices to our customers so that we can continue to secure the needed inputs to make and deliver quality products. Without signs of stabilisation so far, the situation will need to be adjusted as it goes, and no price guarantee can therefore be given for any period”.
Sun Chemical will communicate specific increases directly with its customers. Customers with questions can reach out to their local Sun Chemical sales representative.
About Sun Chemical
Sun Chemical, a member of the DIC Group, is a leading producer of packaging and graphic solutions, color and display technologies, functional products, electronic materials, and products for the automotive and healthcare industries. Together with DIC, Sun Chemical is continuously working to promote and develop sustainable solutions to exceed customer expectations and better the world around us. With combined annual sales of more than $8.5 billion and 22,000+ employees worldwide, the DIC Group companies support a diverse collection of global customers.
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 website at www.sunchemical.com or connect with us on LinkedIn or Twitter.