Flint Group’s CPS Inks division announced that they will implement a global price increase of up to 9% on offset and publication gravure inks, coatings and pressroom consumables effective March 1, 2018. Larger price increases will be required on some specialty products such as silicones and high-performance coatings.
According to the company, raw material trends worldwide have led to decreased availabilty, and therefore increased costs, of many materials used to manufacture CPS Inks’ finished products. This is being driven by raw material suppliers needing to adhere to stricter environmental standards as well as some suppliers consolidating and focusing on more attractive industries.
“Combined,” says Bill Miller, COO of Flint Group CPS Inks, “these factors have affected material availability and cost. This has adversely impacted the cost of manufacturing most of our key product lines to a degree that can we can no longer absorb. CPS Inks will be in direct contact with our customers to provide more detail. This situation is very unfortunate, but needed in the current raw material climate of higher costs and reduced availability.”