Following recent account review meetings with our customers, we have been told about huge raw material price increases that are having a massive impact on bottom line profits. In some cases, costs have risen by as much as 35% which is prompting enquiries for bulk storage in order to beat the price hikes and fix budgets.
Packaging News have reported that adhesives maker Henkel, ink group Flint and polymer manufacturer Wacker Polymers recently revealed more hikes.
Henkel is to increase the price of its adhesives by 10-15% with immediate effect, while Flint Group is upping the price of its narrow web inks by 5-8% from July. Wacker, meanwhile, is to raise its prices by up to €80 per tonne from July.
The companies announced the rises amid a spate of price rises in the sector, which producers say are linked to the growing cost of raw materials.
According to Reuters, French tyremaker Michelin kicked off a fresh round of price rises in Europe recently, passing on a spike in raw materials such as natural rubber, synthetic rubber, steel and oil.
The increases, to take effect before July 1, will hit both consumers and businesses, likely adding to price inflation and possibly slowing economic growth.
We are here to help you beat the price rises and therefore save you money. Talk to us now!
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