Colors are passion, emotions and personality. At Siegwerk, inks and coatings are our specialty and we use color to bring the packaging and products of our customers to life.
Siegwerk announces price increases of publication gravure inks
Siegwerk will increase prices for publication gravure inks.
Siegwerk, one of the leading international suppliers of printing inks, will need to increase prices for Publication Gravure inks from high single-digit up to low double-digit percentages, depending on the color code. Customers with contracted raw material clauses will see price adjustments accordingly. Other customers can expect to see price increases as part of the next negotiations, at the latest. The costs of raw materials have continued to rise and further price increases are anticipated during the course of 2018.
Due to stricter environmental regulations put in place by Chinese authorities and unexpected plant closures, azo (colored) pigment prices have increased significantly in recent months. Additionally, carbon black prices have risen linked to higher intermediate prices and limited availability. These increases affect Publication Gravure but have also impacted a wide range of other ink industries. Unfortunately, any relief in availability and price reduction is not expected in the near term.
Siegwerk continually devotes a large number of resources to identify alternative raw material sources and efficiency mechanisms and has worked closely with the overall supply chain to leverage our buying power and minimize costs whenever possible. Despite the company’s best efforts to reduce costs, there is every indication that prices will remain at higher levels, and possibly increase further, throughout 2018.
In order to ensure that customers benefit from continued levels of quality, service and availability, Siegwerk needs to pass on these higher costs. Specific increases and products affected will be communicated individually to customers, prior to, or during, the next negotiations.