Sun Chemical to Increase Prices of Offset Inks

Sun Chemical will increase prices across selected parts of its pigments, dyes and preparations portfolio, effective February 14, 2022 or as contracts allow. The price increase affects all market segments. “We need to take this action due to the current market conditions,” said Stefan Sütterlin, President of Sun Chemical’s Color Materials division. “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.”

Net earnings improved during the fourth quarter of 2017 to $55 million, an $18 million year-over-year increase, despite a 2.8% decrease in net sales to $1.2 billion. Organic sales decreased 2.8% due to ongoing industry volume and pricing pressures, after excluding pass-through paper sales (-0.3% impact) and favorable foreign exchange (0.3% impact). Net earnings improved for the year ended December 31, 2017 to $107 million, a $62 million increase from 2016, despite a 4.6% decrease in net sales to $4.1 billion. Organic sales decreased 3.5% due to ongoing industry volume and pricing pressures after excluding pass-through paper sales (-1.1% impact), and is consistent with the Company’s previous guidance. Net cash provided by operating activities was $344 million for the year ended December 31, 2017. Free Cash Flow was $258 million, compared with $246 million for 2016, and was at the top end of the Company’s guidance range. Click Read More below for additional information.

TC Transcontinental announces the sale of its industrial packaging operations to Hood Packaging Corporation for a price of US$95 million (about C$132 million1) subject to working capital adjustments. These operations generated approximately US$50 million (about C$68 million2) in revenues during the last twelve months ended July 28, 2024. The Corporation anticipates using the net proceeds to continue reducing net debt in line with its business priorities. This will increase its flexibility in capital allocation, including targeted acquisitions in growth segments. “Industrial packaging is a solid business. However, after operating it for several years, we concluded that it offers few synergies with the rest of our portfolio, and is not core to our Packaging Sector’s growth strategy,” said Thomas Morin, President and Chief Executive Officer of TC Transcontinental. “We are pleased for our employees that Hood Packaging, a family-controlled company like TC Transcontinental whose industrial packaging business is core to their activities, is the buyer.” Hood Packaging is acquiring TC Transcontinental’s Thomasville, North Carolina, packaging operations and building, and 138 employees are being transferred. Hood Packaging is also acquiring the industrial packaging business of TC Transcontinental’s Ontario, California plant, which represents approximately 15% of this plant’s revenues. Roop Nangia, Senior Vice President, Consumer & Beverage, TC Transcontinental Packaging, added: “We sincerely thank all of our talented employees for their contribution, commitment and performance.”