PARSIPPANY, NJ – Sun Chemical and the DIC Corp. will increase prices across select parts of the color materials portfolio, effective July 1, 2022, or as contracts allow. The price increase affects all market segments.
According to Sun Chemical and DIC Corp, the cost increase for key raw materials and packaging components as well as the inflationary pressure on manufacturing operations persist. Energy and logistics costs remain at historically high levels, and the uncertainties due to the Russia-Ukraine crisis and COVID-19 related lockdowns in China are negatively affecting global value and supply chains. The ongoing escalations reportedly make it necessary for the company to increase prices for several product lines of its pigments, dyes and preparations portfolio. The price increases are in addition to those previously announced, including energy and transportation surcharges.
“Sun Chemical values the relationship we have with our business partners, and we are working relentlessly to keep our cost drivers under control and provide maximum value to our customers,” said Stefan Sütterlin, President, Sun Chemical Color Materials. “We regret that we need to take this action, but the current market conditions necessitate that we further adjust our prices to continue our operations. Please understand that due to the unpredictable dynamics in the current market environment, we cannot ensure long term pricing stability at this point in time. We are monitoring this situation and will make adjustments accordingly.”
Sun Chemical will communicate specific increases directly to customers. Customers with questions can reach out to their local Sun Chemical sales representative.
For more information, visit www.sunchemical.com.