In the wake of increasing costs related to the ongoing conflict in the Middle East, Flint Group and Sun Chemical are being impacted by
- Steep price increases for raw materials and intermediates driven by volatility and availability in oil and gas supply;
• Rising transportation, logistics and insurance costs, particularly for shipments through critical trade routes;
• Longer lead times caused by disruptions in supply chains, affecting availability and reliability;
• Lower availability of certain materials;
• Force majeure from certain suppliers;
• Higher energy costs
Steep price increases for raw materials and intermediates driven by volatility and availability in oil and gas supply;
Rising transportation, logistics and insurance costs, particularly for shipments through critical trade routes;
Longer lead times caused by disruptions in supply chains, affecting availability and reliability;
Lower availability of certain materials;
Force majeure from certain suppliers;
Higher energy costs
Flint Group will raise the prices of all its packaging ink and coating products, effective immediately. Heiner Klokkers, President & CEO, Europe, India, Africa & the Middle East – Flint Group, said: “Following a number of significant disruptions over recent years, supply chains are fragile. Nevertheless, we are working closely with all our suppliers and third-party service providers to mitigate rising costs, secure raw materials, and reduce risk wherever possible.”
“Wherever feasible, Flint Group continues to deploy internal efficiency initiatives and assess opportunities to mitigate cost and risk for its valued customers. However, the scale and pace of the current cost increases warrant price corrections and surcharges to ensure the company can continue supplying the quality solutions our valued customers expect from us.
“Our primary objective is to ensure the continuity and security of supply for our valued packaging customers.”
Sun Chemical will implement price increases and surcharges across all its product divisions, effective immediately.
The company will communicate specific price increases and surcharge information directly to its customers via its regional sales organisations and provide them with updates as the situation in the Middle East evolves.
A spokesperson said: “We are in close contact with our suppliers and service providers to identify product production risks and to assess how to mitigate cost increases to the greatest extent possible. Despite our continuous effort, the cumulative increases of costs, fees, and expenses, caused by aforementioned factors outside our control, necessitate price increases and surcharges to safeguard supply continuity and maintain quality and service standards.”
Customers with questions can contact their local Sun Chemical sales representative.
Caption:
Rising transportation, logistics and insurance costs, particularly for shipments through critical trade routes, are affecting prices