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 USA & Canada announces price increase for packaging inks
In spite of continued efforts to minimize the effects of supply chain challenges and continuing raw material price increases in the ink industry, Siegwerk is forced to announce a 4-8 percent price increase on all packaging inks sold in the U.S. and Canada effective November 1, 2010. Price increases will be customer specific based on product mix and the underlying raw material components used in the production of the specific inks.
Raw material availability and consolidation within the raw material market have continued to put price pressures on the ink industry as discussed in Siegwerk’s July 2, 2010 press release regarding raw material availability and its effects on the market. Over the past two years, prices of many types of raw materials have been increased – ranging from 10-40 percent for pigments, 10-150 percent for resins, 5-10 percent for additives and 15-30 percent for solvents.
“While the economic future remains unstable and raw material increases continue, Siegwerk is working jointly with its suppliers to ensure that quality is not compromised and raw material price increases are challenged and negotiated accordingly,” Jim Ross, president of Siegwerk USA and Canada states. “Siegwerk greatly appreciates its customers’ continued patience and flexibility.”