Sun Chemical to increase global pigment prices

Sun Chemical Corporation’s Performance Pigments Division will increase global pigment prices on average by 10 to 30 percent effective July 1, citing the ‘dramatic’ spike in raw material, energy and transportation costs as the reason.

‘The hyperinflation of oil and natural gas has led to dramatically higher raw material, and energy costs as well as additional freighter costs,’ said Myron Petruch, president, performance pigments, Sun Chemical. ‘In addition, there have also been dramatic price increases in intermediates and pigments out of China and other parts of Asia. Costs are escalating at higher amounts than at any time in the last 30 years.’   

This price increase is in addition to the price increases announced in February 2008, and will affect pigments in all forms, including dry, preparations and flushes.

‘There is no short-term relief in sight for these rising costs, however, we will continue to look for cost reduction and productivity gains to offset the rising costs of raw materials,’ Petruch said.