The group said it has continued to weather unprecedented raw material, packaging, energy, and freight cost increases and that escalating costs continue to be seen across all of these categories with no sign of relief in the foreseeable future.

Flint Group Packaging chief commercial officer Doug Aldred said: “The security of supply is our number one priority. Due to our extensive global network and efficiency programmes, we are able to mitigate a significant portion of cost and supply risk.

“However, we continue to witness tightening supply and exponential cost increases. Despite implementing an extensive range of efficiency programs to mitigate these conditions, we are reluctantly compelled to raise prices.”

While no specifics were outlined, the company said it “will seek a price increase and an increase in temporary surcharges” during Q1, or as contracts allow. It added local sales representatives will contact customers soon to discuss the effect of these adjustments.

In late January, Flint Group said its Offset Packaging Solutions (OPS) and Commercial Publication Web (CPW) divisions also announced further price increases.