Kodak announced today it will increase the price of Kodak offset printing plates globally by up to 9 percent, citing the rising price of aluminum in recent months.
“Despite internal cost reductions and improved operational productivity, the magnitude of rising aluminum prices can no longer be sustained by the company,” according to a statement from the company.
“With aluminum prices now reaching multi-year highs, it has become necessary to institute a plates price increase. While Kodak has worked diligently to reduce its own costs to lessen the impact of aluminum, the delta has become too great for us to bear, while maintaining our brand promise as a supplier of quality plates to the industry,” John O’Grady, President, Print Systems Division, Kodak, said.
Details of the new pricing structure will be communicated to customers and dealers across the world in the coming weeks.
O’Grady says the company is exploring different business models in an effort to reduce the effect of aluminum volatility on its customers.
“There are also measures that our customers can take to offset the increase in plate prices. Printers benefit from higher aluminum prices when they recycle their used plates, and many customers are saving additional money by switching to Kodak Sonora Process Free Plates to eliminate the costs of plate processing, including chemistry, water, and electricity costs,” he added.
Last week Agfa Graphics announced a global price increase program for its prepress printing plates, saying increases of up to 10 percent will be implemented immediately.
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