Due to continued raw material cost pressure, Siegwerk has raised its ink prices in its packaging market segments by an average of 6%.
"Latest discussions with suppliers indicate further price increases for some critical raw materials," explains Hugo Noordhoek Hegt, president packaging EMEA. "Some expected price decreases are clearly not materializing. So despite of our various internal efficiency measures we are again forced to pass on some of these costs to our customers.”
He continues: "TiO2 has increased between 50 to 60% during 2011 and the signs for 2012 are that this trend will continue; availability and raw material inflation being the drivers. This kind of drastic increase cannot be fully compensated by internal efficiency measures anymore so we will have to ask our customers to plan for further increases in their budgets for 2012."
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