Flint Group to increase prices for all packaging inks and coatings

The ink and blanket industry faced raw material shortages, critical supply chain weather condition and supply disruptions in Q3. Due to these connected cost burdens, Flint Group Packaging Inks in India has increased prices with immediate event.

Unprecedented price inflation has been witnessed in resins, titanium dioxide, pigments and key solvents; all of these feedstocks touch on the cost base of both solvent-based and h2o-based inks and coatings. Resin prices have increased due to supply constraints and facility closures. Numerous pigment product facilities in Mainland china have reduced capacity; some take been ordered to close, in-line with the 'Blueish Skies' initiative. Solvents are nether pressure level due to product outages, supply tightening and escalation in crude oil costs, all resulting in a finished product cost escalation between 11-17%. Flintstone Grouping sales representatives are discussing the impact with customers.

Rising material costs coupled with increased global trading challenges, currency fluctuations and economic challenges in some regions are presenting the industry with a complex and volatile cost landscape.

Upal Roy, managing director, Flint Group Republic of india explains, "Despite our staunch efforts to mitigate these supply dynamics by deploying significant capital and internal resource to efficiency projects, the cost pressure remains relentless. Recent price increases take not been sufficient to offset the cost increase burden and Flint Group cannot go along to blot the rising costs internally. The situation now necessitates that we pass some increases through the supply chain."

Roy concludes, "Product quality and consistency are essential for our customers, which is why we will go along to prioritize efficiency improvements and the sourcing of high quality materials at a reasonable cost. Customers can always rely on u.s.a. for best in class products at the most economic cost possible."

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Source: https://packagingsouthasia.com/packaging-production/flint-group-to-increase-prices-for-all-packaging-inks-and-coatings/

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