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 Latin America, effective March 15, 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.
“The current market dynamics have created a situation which requires us to raise prices to offset raw material cost increases,” said Fernando Tavara, President, Sun Chemical Latin America. “We will continue to work with our suppliers to minimize impact to our customers through this unprecedented time.”
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.