In a statement issued yesterday (17 December), the German packaging and label ink supplier said that its prices would go up effective 1 February next year as materials such as photoinitiators, UV monomers, acrylic resins, pigments, isocyanates and speciality additives continue to become more expensive to acquire.

Anticipating further increases as 2018 draws to a close, Siegwerk made the decision that the cost would now be passed onto its customers.

Corporate communications manager Roger Bennett told PrintWeek: “At this point we can’t disclose any more specifics on the price increases planned for 1 February in EMEA. Our sales teams will have individual discussions with those customers which will be affected by the increases.

“Since it is nearly the end of the year and some customers are starting to wind down for the holiday break, those discussions will take place over the next few weeks.”

Further factors that have led to Siegwerk’s decision included the fact that coloured pigments and photoinitiators are expected to remain highly affected by drastic supply disruptions amid stricter environmental regulations in key supply markets.

In addition, the European supply chain remains exposed to increasing energy costs and freight rates on rising tolls, inflated fuel surcharges and infrastructure bottlenecks.

Siegwerk president of packaging Jan Dreitkopf insisted that the supplier had worked closely with the supply chain to offset the impact and minimise costs to clients where possible, saying: “In order to ensure that customers benefit from continued high levels of quality, service and consistency, Siegwerk now needs to pass on these higher costs.”

It is anticipated by Siegwerk that prices will remain at “noticeably higher levels” through 2019.

Something of a trend as the year draws to a close, Sun Chemical announced earlier this month that it would raise prices on liquid in products by around 4%-5%, with higher increases on certain pigments such as R169, azo yellows and reds, and phatalo blues.