The Luxembourg-based firm will increase prices by 4-6%, depending on the product group, which will affect its nyloflex and nyloprint printing plates and nylosolv processing solvents.

The firm said printing plates and solvents were "highly dependent" on oil-based raw materials, which had increased "significantly" in price during the last quarter.

Flint Group flexographic products division president Thomas Telser said the firm could no longer offset "consistent and unrelenting" price rises, even though it had absorbed some of these increases by improving its manufacturing processes and reducing scrap.

"We have reached a point where we are no longer able to offset the increased costs and need to adjust our pricing," he said.

Flint said it continued to invest in new products, despite difficult trading conditions, and would launch the nyloflex ITR product line and an advanced version of the nyloflex Infinity technology at the Drupa exhibition in Düsseldorf from 29 May to 11 June.

Flint has followed rival Sun Chemical in raising prices. Sun Chemical said last month that it would increase its pigment chemistry prices by 3-8%, depending on the product.

Sun Chemical's vice president and general manager for performance pigments, Brian Leen, said the firm had been working to control its costs, but higher energy, transportation and raw materials had "forced" it to pass some of these costs on to customers.

The increase will apply to all markets, including the ink, coating, plastic and cosmetics industries.