According to the company, raw material and energy cost increases - some as high as 100% - have necessitated the price increase.
“While the exaggerated cost situation is projected to stabilize at a high level for single raw material components, costs for key material to manufacture printing plates will continue to increase further while energy costs are forecasted to grow significantly in the near future," said Thomas Zwez, vice president of operations, Flint Group Flexographic Products. “This situation is compounded further with the fact that the markets are still driven by capacity shortages, which stems back to the economic crisis in 2008, and by an increased global demand, in particular from emerging countries, which have escalated the competition for limited resources.“
Vice President of Sales Eberhard Huter said: "We have now begun the process of contacting customers directly to inform them about the respective price increases and will continue to work with them to minimise the impact on their business and find the best solution in order to meet their needs."
For more information, please visit www.flintgrp.com.