Earlier this year, Flint announced a CPW surcharge that would be effective from 1 March.
The manufacturer told Printweek that the fresh announcement was to reflect “the reality of the ongoing instability within all cost inputs indicates the need for a surcharge will remain for the foreseeable future”.
“Consequently we are proactivley introducing an independent verification programme to clarify to our customers on a monthly basis any movements within cost inputs which importantly could move pricing up or down. We believe that introducing transparency will be a very positive development for our valued customers”, the firm explained.
CPW president Tony Lord said: “In common with many industries we are experiencing previously unforeseen cost inflation and scarcity of raw materials. If we are to maintain supply, we have no choice other than to pass on these additional costs to our customers.”
Lord emphasised that Flint’s primary responsibility was to maintain reliable supplies of its consumables which are “fundamental to the printing process”.
He added: “Whilst it is hoped the current hyperinflation of costs will abate, the truth is no one can predict with any reasonable accuracy what the future holds for all of our input costs from raw materials, energy, freight and labour costs.”
Lord said that Flint believed that the “fairest and most equitable way to manage this challenging environment” was to provide customers with transparent information about the movements in raw material, energy, freight and labour costs.
Flint will share an independently-validated surcharge mechanism with customers to explain the cost movements – whether up or down – “which will then be reflected within our surcharge”.
The verification process began in April and is being handled independently by global auditing and consultancy group Grant Thornton.
