Due to increasing costs related to the ongoing conflict in the Middle East, Flint Group has confirmed it will raise the prices of all its packaging ink and coating products, effective immediately.
“Recent events in the Middle East are having a significant impact on the cost and availability of many essential materials & services and regrettably, we do not expect these pressures to ease quickly,” said Doug Aldred, Chief Commercial Officer, Flint Group.
The conflict in the Middle East is impacting global economic confidence, and repercussions are being seen across many industries. The situation currently shows little sign of abating, and Flint Group is feeling its impact via;
- Price increases for raw materials & intermediates;
- Rising transportation, logistics and insurance costs;
- Longer lead times;
- Lower availability of certain materials;
- Force majeure from certain suppliers;
- Higher energy costs.
“Following a number of significant disruptions over recent years, supply chains are fragile.” said Heiner Klokkers, President & CEO, Europe, India, Africa & the Middle East, Flint Group. “Nevertheless, we are working closely with all our suppliers and third-party service providers to mitigate rising costs, secure raw materials, and reduce risk wherever possible. Wherever feasible, Flint Group continues to deploy internal efficiency initiatives and assess opportunities to mitigate cost and risk for its valued customers. However, the scale and pace of the current cost increases warrant price corrections and surcharges to ensure the company can continue supplying the quality solutions our valued customers expect from us. Our primary objective is to ensure the continuity and security of supply for our valued packaging customers.”
