Sun Chemical Announces price increase on all product lines

Sun Chemical, a manufacturer of printing inks and pigments and materials supplier for packaging, publications, coatings, plastics, cosmetics and other industrial markets, announced this Wednesday (12/6) which will apply price increases in all its product lines to Brazilian clients from the first day of July. The company says the increase is due to the continuous devaluation of the real against the dollar and the euro.
The percentage of the increase will be variable according to the composition and lines of each product. The specific adjustments shall be notified directly by Sun Chemical to its clients.
"In the short period of five months in 2013, our currency has suffered a devaluation of 4.5%, intensifying the trend of the last two years and impacting our local prices in reais of imported goods and raw materials," said Fernando Tavara, President of Sun Chemical Latin America. "During the past two years, we absorb much of the increased costs, only passing guests increases moderately. The last rate increase implemented by Sun Chemical only partially balanced the escalation of costs that we have faced due to the devaluation of the real, "justified the Executive.
According to the company, the prices of raw materials also contributed to the increase. "The weakening real has directly impacted our cost structure, because the raw materials of our industry are basically comoditizadas, with prices set in international markets in dollars and in euros" said Tavara.