Flint Group has increased printing ink prices in all market segments in Europe to offset the continued escalation in raw materials costs.The Luxembourg-based company said increased global demand for chemicals and derivatives had driven prices to record levels.
The removal of VAT refunds on Chinese exports in July 2007 had caused "double-digit increases" for pigments and other key raw materials.
Flint Group Europe president Dirk Aulbert said that in the current environment, absorbing these costs was "simply not an option".
The company said it would contact customers with more specific information, and would honour all existing supply contracts.
Flint manufactures items such as plates, flexographic sleeve systems and inks for the printing, converting and graphic arts industries from 170 facilities worldwide.
It employs 8,300 staff and expects 2007 revenues to hit £1.73bn (€2.55bn).
Source: packagingnews
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