The progressively challenging global trading environment compels Flint Group to implement difficult decisions for the security and sustainability of supply. Furthermore, significant cost headwinds have been witnessed in pigments, solvents, resins and freight, placing uninterrupted cost pressure on the Packaging Inks’ business. The price increase will vary depending on each product’s composition. For some customers, increases have already been agreed.
Flint Group salespeople will be actively conferring with all customers to ensure full attainment of the price increase during January.
Doug Aldred, president of Packaging Inks and Resins, notes, “Despite today’s announcement, we are resolutely committed to the efficiency projects first communicated to the market in late 2017. In addition, we continue to implement new initiatives to remove cost and complexity, steadfastly focusing on the benefits these activities bring to our customers. However, raw material and freight inflation has become untenable, hence, we are forced to look toward the market to alleviate some of the cost burden we face. Nevertheless, customers will be pleased to learn that we will be introducing new, high-performing products throughout the course of 2019, helping to improve printing efficiencies and support process optimization within our customers’ press room. The influence of these changes will be especially pertinent for our paper and board customers.