PARSIPPANY, New Jersey
,
June 1, 2022
(press release)
–
Sun Chemical and the DIC Corporation will increase prices across select parts of its color materials portfolio, effective July 1, 2022 or as contracts allow. The price increase affects all market segments. Without signs of relief, the cost increase for key raw materials and packaging components as well as the inflationary pressure on manufacturing operations persist. Energy and logistics costs remain at historically high levels, and the uncertainties due to the Russia-Ukraine crisis and COVID-19 related lockdowns in China, are negatively affecting global value and supply chains. The ongoing escalations make it necessary for the company to increase prices for several product lines of its pigments, dyes and preparations portfolio. The price increases are in addition to those previously announced, including energy and transportation surcharges. “Sun Chemical values the relationship we have with our business partners, and we are working relentlessly to keep our cost drivers under control and provide maximum value to our customers,” said Stefan Sütterlin, President, Sun Chemical Color Materials. “We regret that we need to take this action, but the current market conditions necessitate that we further adjust our prices to continue our operations. Please understand that due to the unpredictable dynamics in the current market environment, we cannot ensure long term pricing stability at this point in time. We are monitoring this situation and will make adjustments accordingly.” 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 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 or connect with us on LinkedIn, Instagram or Twitter.
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.
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