Flint Group Packaging is increasing the prices of all its packaging products sold by the flexible packaging, paper and board, and narrow web businesses. The price hike, and an increase in temporary surcharges, will take place during the first quarter of this year (or as contracts allow).
In a statement, the company said it has continued to weather unprecedented raw material, packaging, energy and freight cost increases and that escalating costs continue to be seen across all the aforementioned 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, Flint Group Packaging.
