“The supply chain challenges and rising costs experienced by all suppliers to the printing industry are showing no signs of losing momentum,” says global printing ink manufacturer Flint Group, which announced a further increase in all sheetfed inks and coatings, press room chemistry and transfer media products from February 1, 2022.
“Flint Group OPS [owner of digital print technology manufacturer Xeikon] has been faced with shortages across the full breadth of the supply chain, including key raw materials, packaging, international freight and local logistics,” it said. “Conditions have been further exacerbated over recent months, and costs have risen to unprecedented levels.
“The rapid increase in costs and shortage in supply can be seen across all procurement categories, the vast majority of which can be seen across pigments, resins, oils, organic chemicals, solvents and additives, as well as a significant increase in the cost of steel, plastic, corrugated and wooden packaging types. Furthermore, the impact of the COVID-19 pandemic coupled with the rising fuel costs has seen an increase in freight and logistic costs which is unparalleled.
“Flint Group OPS continues to implement internal improvements, operating efficiencies and capabilities to mitigate the adverse effects of the current market place challenges where possible, however, it is evident that this alone is not sufficient to offset the current increase in costs.”
Nick Brannan, global business director, Flint Group Offset Packaging Solutions, said: “Flint OPS’ main driver remains continuing to support our customer base during these unprecedented times, as well as ensuring continuity of supply. We have taken steps that support our business model, inventory holding capabilities and standard operating procedures in managing any potential delays due to shortages in the supply chain.
"However, we unfortunately cannot control all eventualities, such as upstream force majeure announcements and the acute global freight imbalance. We are fully committed to supporting our customer base during this trying time, and will work closely with our global supply chain partners in order to offset as many negative effects as we possibly can.”
The size of the price increases is yet to be announced.
