PARSIPPANY, N.J., USA – WEBWIRE – Wednesday, June 1, 2022
Sun Chemical will increase prices across its entire portfolio of packaging, commercial sheetfed and screen inks, coatings, consumables and adhesives in North America, effective immediately or as contracts allow.
The inflationary environment in North America has continued to impact the ink industry. Global geopolitical events have caused sustained pressure on logistics availability and have increased the costs to unprecedented levels. The constrained accessibility to labor in the market has driven significant wage inflation while contributing to inefficiencies at manufacturing facilities.
Key raw materials continue to experience scarcity while steel shortages drive costs for steel drums and other packaging components to historic highs. Sun Chemical continues to seek mitigation strategies to these cost increases, however, the magnitude and speed of increases require further action to offset impacts to the business.
Our team continues to focus on ensuring a steady flow of our products to customers, said Chris Parrilli, President of North American Inks. Sun Chemicals global reach has helped secure the raw materials needed to maintain production, however, the costs to secure those materials, manufacture our products, and deliver them to our customers has reached a level that requires Sun Chemical to take this price action. Global events will continue to influence our strategies and actions as we evaluate every opportunity to mitigate these inflationary events and deliver on the expectations our customers have for reliable supply of our products to their facilities.
Sun Chemical will communicate specific increases directly with its customers. Customers with questions can reach out to their local Sun Chemical sales representative.
About Sun Chemical
Sun Chemical, a member of the DIC Group, is a leading producer of packaging and graphic solutions, color and display technologies, functional products, electronic materials, and products for the automotive and healthcare industries. Together with DIC, Sun Chemical is continuously working to promote and develop sustainable solutions to exceed customer expectations and better the world around us. With combined annual sales of more than $8.5 billion and 22,000+ employees worldwide, the DIC Group companies support a diverse collection of global customers.
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. For more information, please visit our website at www.sunchemical.com
( Press Release Image: https://photos.webwire.com/prmedia/6/289824/289824-1.png )
This news content was configured by WebWire editorial staff. Linking is permitted.
News Release Distribution and Press Release Distribution Services Provided by WebWire.