Sun Chemical Performance Pigments to Increase Global Pigment Prices
Due to a dramatic spike in raw material, energy and transportation costs, Parsippany, New Jersey-based Sun Chemical’s Performance Pigments Division will increase global pigment prices on average by 10 percent to 30 percent effective July 1.
“The hyper inflation of oil and natural gas has led to dramatically higher energy, raw material and freight costs,” said Myron Petruch, president, Performance Pigments, Sun Chemical. “In addition, there have also been dramatic cost increases in intermediates and pigments out of China and other parts of Asia. Costs are escalating quicker and in 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 added.
Sun Chemical, a member of the DIC group, is the world’s largest producer of printing inks and pigments and a leading provider of materials to packaging, publication, coatings, plastics, cosmetics and other industrial markets. With annual sales of more than $4 billion, Sun Chemical has 12,000 employees supporting customers around the world. The Sun Chemical Group of companies includes such established names as Coates, Hartmann, Kohl & Madden and US Ink.
For more information, visit www.sunchemical.com.