Additionally, the strong impact of the global transportation crisis and inflation on the different components of the manufacturing process are worsening the situation, the company said in a press release.
“We need to take this action due to the current market conditions. Sun Chemical values the relationship we have with our business partners, and we remain committed to continuous cost and productivity improvement programs designed to keep our cost drivers under control and provide maximum value to our customers. However, the unprecedented magnitude and speed of increases in materials forces us to pass on higher cost to our customers,” Stefan Sütterlin, the president of Sun Chemical’s colour materials division said in a statement.
Fibre2Fashion News Desk (GK)