Raw Materials Costs Force Sun To Increase Prices

Continued and rapid increases in raw material prices, as well as shortages of important ingredients have forced Sun Chemical to increase its prices in Europe by between six per cent to 12 per cent.

The increases, which will be effective from November 1, will cover Sun Chemical's complete range, in all the markets in which it operates.

Felipe Mellado, corporate vice president of marketing at Sun Chemical Europe, said: "We are working with our supplier base, monitoring industry conditions and continuing internal efficiency programmes to limit the impact of rising costs, material scarcities and transportation availability.

However, given the rapidity and scale of cost increases, despite fluctuations in the oil price, we are forced to implement price increases to cover basic costs that are not expected to drop any time soon." And he explained: "We will work closely with all our customers and partners to establish how the price increases will affect their individual businesses, with the aim of minimising the impact as much as possible.

The terms and conditions of existing contracts will be honoured." David Meldram, Sun Chemical's senior vice-president, added: "In Europe we are operating in a challenging environment and these increases will ensure our customers can count on us to continue to offer the best total value in the industry through innovation, technology, superior service and ease of doing business.".

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