The company said that it has been forced to react to the increased cost for water-based coatings and UV varnishes, with prices rising by up to 10%
It added that the “massive price increases of important raw materials for printing varnishes and coatings” have resulted in a hike in production costs.
In a statement hubergroup added: “Water-based and energy curing printing varnishes are seriously affected because the binder components have become significantly more expensive. The expenses for important basic upstream products, such as styrene and acrylic acid, grew severely.”
Source: News – Packaging News