“Serious shortages and unrelenting cost increases” of the raw materials needed to manufacture white and Violet 23 packaging inks have led Sun Chemical to schedule a May 1 price increase throughout North America. Prices will rise a minimum of 10 percent for all solvent and waterbased white inks, and a minimum of 20 percent for all solvent and water based Violet 23 inks, dependent upon the amount of Violet 23 in the specific color formulation.
The company says it will continue to monitor the raw materials situation and might need to make further price adjustments for other packaging inks as necessary.
“We regret needing to take this action, but the shortages and subsequent increases in costs for the raw materials needed to manufacture packaging inks have placed us in a position where we need to raise our prices,” says Tony Renzi, vice president of product management, liquid inks, North American inks. “Despite these challenges placing us in this regrettable position, we are looking for ways to work closely with our supply chain partners on controlling our own costs.”