Sun Chemical will push up the prices of all of its offset inks and coatings worldwide, effective from 1st March 2018, amidst warnings of further increases later this year.
The exact increase will depend on the product in question but is likely to be in the high single digits for most users. Sun Chemical has blamed this on production and environmental restrictions on key materials, especially in China, where there have been a number of major incidents that have curbed supply, as well as general increases in the price of oil, solvents, distillates and pigments.
Felipe Mellado, Chief Marketing Officer for Sun Chemical, explained: “We work proactively with our supply chain partners to manage and minimize costs, but due to the economic reality, cost pressures have been constant and significant price increases are being passed on to the inks industry. To ensure we maintain high levels of product quality and service, it has become necessary to increase customer prices.”
This follows on from a similar increase in the prices of inks and coatings for flexible packaging at the start of this year.
At the same time, Sun Chemical, together with its parent company DIC Corporation, has acquired a couple of other companies. This includes the British company Luminescence Holdings Ltd, which makes currency, tax stamp, passports, ID cards, secure documents and brand protection inks for the security market. This acquisition gives Sun a significant boost in the securities market.
Sun Chemical has also picked up C.T.LAY, based in Modena, Italy, which is a global leader in pre-laid overlays and pre-patched holograms in its own right, as well as having experience in lamination plates with security elements and plasma coatings through its joint-venture branch 4PLATE. It gives Sun Chemical a considerable chunk of the plastic and security cards market together with expanded manufacturing capabilities, technical service departments and sales teams.