Global printing and packaging supplier Flint Group has announced a global price increase of 4 to 7 per cent for its packaging, narrow web and sheetfed products which include inks and blankets.
The price rise will take place from April 3.
The company says due to a prolonged period of significant raw material cost inflation, Force Majeure incedents, and changes in the supply outlook of raw materials for printing inks and varnishes.
Doug Aldred, president packaging, narrow web and sheet fed division, Flint Group says, “The increases will vary by product group and our business managers will be in contact with their customers over the next few days to discuss the details.”
[Related: Flint Group acquires Xeikon]
In February, Flint Group announced price increases and a variable surcharge due to the supply constraints and price inflation seen in the global titanium dioxide market.
The security of supply for many ink-related raw materials has recently worsened causing a global price rise.
Aldred says, “We have been subject to compelling volatility in our supply chain for some time now; our focus has always remained on securing product quality and long term availability. Unfortunately, this has led to the higher costs that we are now experiencing.
“Flint Group is working tirelessly to mitigate the costs of these dramatic increases in raw materials being passed to our valued customers by investigating alternative sources of supply and committing capital to efficiency projects. However, in such volatile conditions the Group has no option but to review the sustainability of current pricing models and adjust accordingly.”
Flint Group has three offices in Australia; in Sydney, Melbourne and Brisbane.