On 2 March 2021, Flint Group Packaging announced the intention to increase the prices of its ink and coating products, effective 1st April 2021. Flint Group has ink manufacturing plants and wide distribution in India and the region.
The company is facing an extraordinarily turbulent set of supply chain conditions, exacerbated by the global pandemic. Costs are increasing and supply is tightening across almost all procurement categories: multiple petrochemical derivatives – such as resins and solvents; pigments, and freight, are three of the most volatile areas.
Doug Aldred, president of Flint Group Packaging Inks notes, “The unusual set of supply chain conditions currently witnessed are some of the most severe I have seen. Our business is facing substantial cost and availability headwinds, across multiple raw material categories. Resins, solvents, and pigments (including Titanium Dioxide), are particularly problematic.”
Flint Group Packaging continues to collaborate with all its global supply chain partners, in order to mitigate as many negative effects as possible. However, recent upstream force majeure announcements and the acute global freight imbalance is impeding some corrective actions.
“Regrettably, despite our tenacious efforts to offset cost and risk for our valued customers, the pronounced and prolonged pressure – experienced in some categories since mid-2020 – has forced us to act. Some raw materials, such as UV resins, additives and pigments, are reaching cost peaks not witnessed in the last ten years or more” said, Emmanuel Bareaud, president of Flint Group Narrow Web.
The business continues to invest in its assets, capabilities, and operating procedures to negate the adverse supply chain circumstances, wherever feasible. Nonetheless, it has become clear that these activities alone will not suffice; the company will seek to recover costs via a combination of extensive productivity optimizations, price increases, and temporary surcharges.
Flint’s press release says, your local sales representative will soon be in contact to discuss the effect of these adjustments.
Smart Packaging Solutions Virtual Congress -19 March 2021
The Smart Packaging Solutions for India and South Asia Virtual Congress on 19 March focuses on food and pharma supply chains, brand security, and sustainability. Organized jointly by IPPStar and the AIPIA, the virtual congress’s topics include brand authentication, condition monitoring, and active and intelligent packaging that contributes to the safe delivery of authenticated products leading to safety, security, and customer engagement. Please look at the agenda of the conference here, and for registration, please click here. You can also email Ruchi at firstname.lastname@example.org or Umesh at email@example.com. Call us in Noida at 120-4546988 or 4326053 – Umesh at Xtension 30; Ruchi at Xtension 33; Gaurav at Xtension 23; and Mohit at Xtension 25.