Recent events in the Middle East have triggered an increase in oil prices, which presents a cascading effect on the price of solvent raw materials used in the manufacture of inks and coatings. The instability and current increases necessitate that Flint Group Packaging Inks in India initiate a price increase with immediate effect.
Effective immediately, a price increase will apply to all orders as long as oil prices remain well above reasonable and standard levels. When and if prices begin to drop, Flint Group will reconsider the price increase and adjust as needed.
“We understand that price increases have become an almost ‘routine’ matter,” said Upal Roy, managing director, Flint Group India. “However, we hope that our customers will understand and appreciate that we have no choice but to pass along the increase and that Flint Group cannot continue to absorb the entirety of these rising costs.”
“Despite today’s announcement, we are resolutely committed to efficiency projects that will continue to remove cost and complexity in our own operations. We also remain dedicated to helping our customers to improve their own efficiencies and to support process optimization within their press rooms,” Roy added. “Ultimately, product quality and consistency remain a key focus; our customers can always rely on us for best in class products and services at the most economic price possible.”