hubergroup has announced a worldwide increase in the price of its products due to rising raw material prices. The Chemicals division markets raw materials such as pigments, resins, and additives produced in India.
The company said that the rise in raw material costs and the shortage of freight capacity have put pressure on companies worldwide. The printing ink industry has also been severely affected, as transport costs and the costs of pigments (including titanium dioxide) and petrochemical raw materials such as resins and solvents have continued to rise massively over the year.
hubergroup to minimize price hike by using the global supply network
“hubergroup, an international manufacturer of printing inks and specialty chemicals, is therefore now reacting with worldwide price increases,” it said.
The company emphasizes that it is working hard to minimize price increases for customers by using the global supply network, examining other sourcing methods, and using alternative raw materials. Nevertheless, a price increase is unavoidable.
hubergroup is a family business based in southern Germany with a 255-year history. The Print Solutions division produces and sells printing inks and printing aids for packaging printing and commercial printing. The security inks segment for international banknote and identity document producers is covered by the subsidiary Gleitsmann Security-Inks.
In 2020, hubergroup generated an annual turnover of about €644 million and currently employs approximately 3,500 employees worldwide in over 30 countries.
CEO comments on price hike
Heiner Klokkers, CEO of hubergroup, explains: “The satisfaction of our customers is our top priority. To ensure that we can continue to offer them high-quality printing inks and raw materials in the future, it is unfortunately essential in the current situation that we reflect the significantly increased procurement costs in the prices of our products. Our field staff around the world will shortly be informing customers personally about the specific effects and are of course available to answer questions at any time.”
