Sun Chemical to hike pricing on water-based corrugated packaging liquid inks by at least 8%, water-based and solvent-based packaging liquid inks by at least 15%, heatset inks, specialty solvents, isopropyl alcohol by 10%, effective July 1
PARSIPPANY, New Jersey
June 2, 2011
– Faced with continued volatility in the global supply chain and increases in the costs of raw materials, including acrylic and polyamide resins, rosin resins, distillates, carbon black, TiO2, Violet 23 and nitrocellulose, Sun Chemical will raise prices on July 1, 2011 in the United States and Canada by:
· a minimum of 8 percent for water-based corrugated packaging liquid inks,
· a minimum of 15 percent for all other water-based and all solvent-based packaging liquid inks,
· 10 percent for all heatset inks, and
· 10 percent on all Sun Chemical Rycoline® blanket and roller solvent-based washes, specialty solvents, and isopropyl alcohol.
“We have seen an unrelenting elevation of costs on raw materials such as nitrocellulose, which has a price increase of over 15 percent announced for July 1 based on a 32 percent increase for cellulose, the base feedstock. We simply cannot offset the drastic raw material price increases we have seen this past year across all our product lines,” said Tony Renzi, Vice President of Product Management, Liquid Inks, North American Inks, Sun Chemical. “Despite these challenges, we are looking for ways to work closely with our supply chain partners on controlling our own costs.”
About Sun Chemical
Sun Chemical, a member of the DIC group, is the world's largest producer of printing inks and pigments and a leading provider of materials to packaging, publication, coatings, plastics, cosmetics, and other industrial markets. With annual sales of more than $3.5 billion, Sun Chemical has over 9,500 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. For more information, please visit our Web site at www.sunchemical.com.