Sun Chemical (Parsippany, New Jersey) will increase prices across its portfolio of packaging, commercial sheetfed and screen inks, coatings, consumables, and adhesives in North America, effective immediately or as contracts allow, the company announced.
In a release, Sun Chemical ascribed its decision to raise prices to inflation, which “continues to impact the entire spectrum of raw material inputs and packaging components for the ink industry.” The company also cited a shortage of available labor and “supply/demand dynamics in both the global and regional logistics markets” as contributing factors in driving the increases.
“We continue to leverage our global network to secure raw materials and needed services,” says Chris Parrilli, president of North American inks. “However, the competition for these resources is significant and is driving costs higher and faster than we can overcome through efficiency programs. This requires us to raise prices to our customers so that we can continue to secure the needed inputs to make and deliver quality products.”