Industry News

Material Costs force INX to Boost Prices; Increase Set for December 1st

Published on 2005-10-27. Author : SpecialChem

Schaumburg, IL -- Citing continued rapid increases in the cost of raw materials coupled with tight supplies of strategic ingredients, INX International Ink Co. announced a price increase of 5% to 10% (depending on product line), to take effect December 1, 2005.

"We have worked diligently to manage these issues," said Charles Sagert, INX Vice President Sales, "including reduced margins to moderate the impact on our customers in anticipation of a return to prior cost levels.

"Unprecedented cost escalations have continued, however - not only for natural gas (now exceeding twice the price of historic levels), crude oil, and raw materials - but also significant cost increases for transportation and delivery. The magnitude of these multiple increases along with the tight supply of strategic components critical to ink formulary, have left our own prices lagging further and further behind … leaving us no choice but to partially close that gap with the 5% to 10% increase.

"We will continue to do all we can to control costs, optimize our supply chain, monitor industry conditions and intensify internal efficiency programs," Sagert asserted, "while providing the unsurpassed product quality as well as INX Team service and support that our customers have come to expect."

INX International Ink Co. is the third largest producer of ink in North America with over 30 plants in the U.S. and Canada, and a global supplier as part of Sakata Inx worldwide operations.

Source: INX International Ink Co.

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