PARSIPPANY, NJ, Feb. 15, 2021 (Press Release) -Sun Chemical will increase prices across a broad portfolio of its packaging and commercial sheetfed inks, coatings, and adhesives in Europe, Middle East, Africa (EMEA), effective March 1, 2021.
A combination of raw material shortages, including petrochemical, vegetable oils and derivatives, dramatically increased international freight transport costs, and demand due to economic recovery, are all contributing factors for the cost increases in Sun Chemical’s raw material feedstocks.
Nicolas Bétin, Director Product Strategy EMEA at Sun Chemical, says: “The pressure across the supply chain is causing an abrupt rise in raw material costs and unfortunately requires us to increase customer prices. We will continue to work with our sourcing partners to manage and minimise the impact on our customers.”
As a leading ink supplier, Sun Chemical is working hard to mitigate rising costs by implementing internal improvement programs and by maintaining very close communication with its suppliers and industry associations to ensure it is fully aligned to the latest procurement situation. Sun Chemical will communicate specific increases directly with its customers.
About Sun Chemical
Sun Chemical, a member of the DIC group, is a leading producer of printing inks, coatings and supplies, pigments, polymers, liquid compounds, solid compounds, and application materials. Together with DIC, Sun Chemical has annual sales of more than $7.5 billion and over 20,000 employees supporting customers around the world.
Sun Chemical Corporation is a subsidiary of Sun Chemical Group Coöperatief U.A., the Netherlands, and is headquartered in Parsippany, New Jersey, U.S.A.