Siegwerk announces further price increases

Citing continued raw material cost increases, Siegwerk will raise prices in all customer segments by an average of 8 percent and in some segments up to 25 percent. 

‘Higher raw material prices have such a big impact on our business that we have to pass on some of these costs to our customers,’ said CEO Herbert Forker. ‘We work hard to offset as much of the additional cost as we reasonably can; productivity programs, search for cheaper raw material solutions, purchasing efforts and efficiency measures from last year are continued. The situation has not eased at the end of 2010 and recent supplier announcements resulted in further price increases and continued tightness on the supply side.’

Worldwide capacity reductions and new levels of HSE responsibility and sustainability have led to a smaller supply base for defined raw materials and feedstock products, says the company. 

Prices have risen for materials like pigments, for example violet 23, by more than 100 percent; gum rosin and polyamide resins by more than 70 percent; and titanium dioxide by more than 25 percent, compared to last year. 

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