Flint Group Packaging Inks has confirmed the implementation of a North American price increase across all product lines for flexible packaging for its solvent-based business as of July 15, 2020 to alleviate raw material cost increases.
Supply across several raw material categories has tightened and costs have risen due to a more constrained market. Solvent costs, notably isopropyl alcohol, have risen to a level that mandates the company pass along a portion of the increase. Additionally, the market has seen significant cost increases in other raw materials such as polyamides, resins and carbon black.
‘The supply situation caused by Covid-19 had a significant impact on all industries around the world, and Flint Group was not immune to its effects,’ commented Michael Mosley, vice president and general manager, packaging inks, North America at Flint Group Packaging. ‘Already rising costs, in addition to material constraints caused by the virus, have resulted in cost increases that we simply cannot bear alone.
‘We are pleased to have delivered consistent output despite major supply chain challenges resulting from the pandemic. Post pandemic, our focus remains pinned on supplying printers with the high-quality materials needed to continue their essential package printing operations along with the technical support required to keep their operations running.
‘As always, our teams will continue to mitigate, as much as possible, cost increases either through our own negotiations or continuous improvement projects,’ concluded Mosley.
Flint Group local sales representatives will be in contact with all customers to discuss how this price increase will impact each business.