ZURICH– Cicor Technologies Group announced an 8.9% increase in net sales for the first half of 2008 and a net profit that rose by 20.7%. Net sales increased by 8.9%, with the company’s acquisition of ESG contributing 2.7% of that figure. EBIT rose 27.3%. Despite a subdued forecast for the remainder of 2008 the group management and the board of directors believe that 2008 will close with higher net sales and increased profitability.
SLOUGH, UK -- Sun Chemical will increase prices by 5% to 15% in Europe, Africa and the Middle East effective September 1, 2008.
These price increases are due to significant increases in raw material, energy and transportation costs brought on by the continued high prices of oil and natural gas, combined with governmental policies in China and global shortages of certain raw materials.
David Meldram, president of Sun Chemical Europe, said, "Increased costs are having a significant impact on most industries in Europe, and our industry is no exception. We continue to monitor the business environment in the sectors in which we operate. We are working proactively with our suppliers and we are taking action to keep costs to a minimum. However, given the speed and scale of these rises, it is necessary to increase prices for the commercial, packaging and industrial markets."