IGM Resins announces price increase for its photoinitiator portfolio as per May 1st
April 21st, 2023 - Waalwijk, the NL
Due to continued significant increases in costs, IGM Resins is announcing a price increase on its Omnirad™, Esacure™ and Omnipol™ photoinitiator portfolio.
The inflationary environment has continued to impact our industry. Global geopolitical events have caused sustained pressure and have increased the costs to unprecedented levels. The constrained accessibility to labor in the market has driven significant wage inflation while contributing to inefficiencies at manufacturing facilities. The impact of the supply chain and global shortage for several key raw materials for the production of photoinitiators and the continued increase in energy costs over the last months are further impacting IGM’s costs positions to a point where no further absorption of those are possible. The increases will be 10% and will be effective as per May 1s, as contract allow.
IGM Resins continues to focus on providing security of supply to its customers around the world. Specifically, its site in Mortara, Italy, which is the only photoinitiator production site in Europe and the largest outside of China. In addition, with the new, state-of-the-art Anqing production site in China up and running, and as global market leader, IGM Resins is working tirelessly to provide stable and most efficient supply chain of photoinitiators to its global customers.
IGM Resins is always focused on the #GoGrowGreen green strategy : we aspire to enhance customer centricity and value, strengthen solution and value-based sales and lead the industry change for a better future. IGM is committed to the UV industry. IGM’s dedicated sales and technical service teams are available for questions or concerns.