Sun Chemical Europe increases prices in commercial, packaging and industrial markets
Sun Chemical is increasing prices for the commercial, packaging and industrial markets by between 5 and 15 percent because of significant increases in raw material, energy and transportation costs. The increases cover Europe, Africa and the Middle East and will be implemented from September 1.
The primary reasons for these cost increases faced by Sun Chemical include the continued high prices of oil and natural gas, combined with governmental policies in China and global shortages of certain raw materials.
David Meldram, president of Sun Chemical Europe, said: ‘Increased costs are having a significant impact on most industries in Europe, and our industry is no exception. We continue to monitor the business environment in the sectors in which we operate. We are working proactively with our suppliers and we are taking action to keep costs to a minimum. However, given the speed and scale of these rises, it is necessary to increase prices for the commercial, packaging and industrial markets.’