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Siegwerk USA and Siegwerk Canada Announces Price Increase for all Packaging Inks and Coatings
Siegwerk USA and Siegwerk Canada Announces Price Increase for all Packaging Inks and Coatings
Siegwerk USA and Siegwerk Canada will implement a 6-8% price increase on all packaging inks and coatings effective January 1, 2009. This announcement comes as a response to continued price increases from all aspects of the supply chain.
The unprecedented increases experienced this year are related to a variety of reasons including oil prices, weakening U.S. dollar, tight supply/demand issues related to raw materials and feedstocks, and rising freight and energy costs. The near future remains highly unpredictable for pricing and availability of raw materials.
“The printing ink industry continues to experience unprecedented increases and availability pressures throughout its supply chain,” states Daniel McDowell, President Siegwerk NAFTA. “Siegwerk has continually worked to mitigate the impact of these increases on its customers through consolidation of manufacturing and other process improvements throughout its organization. Siegwerk is also working closely with its suppliers to assure continued availability of its high quality printing inks even in these most challenging times.”