Magazine Printing Supplier Raises Ink Prices
Facing increased energy costs, Flint Group to elevate prices 10 to 12 percent.
The Flint Group, a printing and packaging supplier, has announced 10- to 12-percent price increases to its publication inks. The price hike is effective June 1.
The increases, the company says, are necessary to offset escalating costs of raw materials, energy and freight. “We have taken extraordinary measures to reduce costs within our manufacturing and delivery operations and to ensure a consistent supply of high-quality products to our customers,” said Mike Green, vice president and general manager of Flint Group North America’s Publication Inks Division. “Since October 1, 2007, however, [the division] has received over 100 raw material price increases from our global supply base.”
Magazines and catalogues make up the bulk of the company’s heatset products, a Flint Group spokesperson tells FOLIO:. It is not immediately clear how each of the company’s products would be affected by the hikes.
In an e-mail to customers, magazine printer Lane Press—a Flint Group client—acknowledged the coming price hike, noting that ink typically makes up less than 5 percent of its overall printing costs.
Founded in 2005 and owned both privately and by private equity group CVC Capital Partners, the Flint Group posted $3.1 billion in revenues in 2007. The company is headquartered in Luxembourg, Germany, but its Publication Inks Division is located in Plymouth, Michigan.