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Siegwerk USA & Canada announces price increase for wide web packaging inks
Due to ongoing, unprecedented raw material cost increases experienced throughout the ink industry, Siegwerk is forced to implement price increases on its solvent-based and water-based inks for its wide web customer base.
Effective July 1, 2011, solvent and water-based inks and coatings will be increased by 15% excluding products containing Violet 23 which will be addressed on a customer-specific basis.
Violet 23 pigments have increased over 60% in the last six months. Siegwerk vows to work with its customers on alternative offerings to meet their business needs while minimizing cost pressures.
“Siegwerk has taken every measure possible to minimize increases in raw material costs or to compensate these increases by increasing efficiencies,” states Jim Ross, president Siegwerk USA and Canada. While Siegwerk does not foresee a reversal of the raw material trends in the coming months, moving to quarterly reviews of pricing will ensure that Siegwerk can provide its customers with fair prices that more accurately reflect market conditions.
“Siegwerk continues to search for efficiencies throughout its supply chain and will work with its customers to help maximize the value of Siegwerk’s high quality inks,” Ross continues, “Siegwerk greatly appreciates its customers understanding during these unprecedented times and remains committed to providing the best possible valueadded products and services to help its customers continue to grow their own business.”