Siegwerk will implement a price increase for all packaging inks and varnishes in EMEA from 1 February 2019. The company said costs for raw materials such as photoinitiators, UV monomers, acrylic resins, pigments, isocyanates and specialty additives have continued to rise, with further increases experienced in Q4 2018.
In addition coloured pigments and photoinitiators are expected to remain highly affected by drastic supply disruptions amid stricter environmental regulations in key supply markets. Plus, the entire European supply chain remains exposed to substantially increasing energy costs and freight rates soaring on rising tolls, inflated fuel surcharges and infrastructure bottlenecks.
Siegwerk said it has worked closely with the overall supply chain to leverage its buying power and minimise costs whenever possible, but Dr Jan Breitkopf, president packaging EMEA added: “In order to ensure that customers benefit from continued high levels of quality, service and consistency, Siegwerk now needs to pass on these higher costs.”
