Despite efforts to absorb costs, the ongoing COVID-19 pandemic has left management no choice. The expense to manufacture solvents, especially alcohols used in the production of critical sanitizers and medical initiatives to fight the virus, has risen sharply this year.
“We regret needing to take this action but it is something that is beyond our control. We have worked very hard to secure our supply of solvents even as the increased demand has put unprecedented pressure on the global solvent supply,” said Ron Deegan, INX International’s Senior Vice President of Sales for North America. INX is the third largest producer of inks in North America.
“Our focus,” he continued, “is to ensure that we have an uninterrupted supply of solvents so we can continue to supply our customers with the highest quality ink products and service they have become accustomed to. We will continue to monitor the situation although we expect the price for solvents will likely continue to increase.”
Deegan said customers should expect communication soon from their INX representatives to discuss specifics. This includes answering questions and providing market data that justifies the price increase.