Flint Group Packaging announces global price increase
Flint Group Packaging will increase the prices of all its packaging products sold by the Flexible Packaging, Paper & Board and Narrow Web businesses.
Further to multiple announcements advising of the worsening market conditions throughout 2021, the group has continued to weather unprecedented raw material, packaging, energy and freight cost increases.
Escalating costs continue to be seen across all the above categories with no sign of relief in the foreseeable future.
“The security of supply is our number one priority. Due to our extensive global network and efficiency programmes, we are able to mitigate a significant portion of cost and supply risk. However, we continue to witness tightening supply and exponential cost increases. Despite implementing an extensive range of efficiency programs to mitigate these conditions, we are reluctantly compelled to raise prices,” said Doug Aldred, Chief Commercial Officer for Flint Group Packaging.
The company will seek a price increase and an increase in temporary surcharges during Quarter One or as contracts allow.