The Board of Directors authorized a new $300 million share repurchase program to be effective at the conclusion of the previous authorization. As of March 31, 2016, approximately 688 thousand shares remained to be repurchased under the previous share repurchase authorization. “We continue to make tremendous progress as we transform Deluxe into a marketing solutions and other services provider. Dividends and common stock repurchases remain an important part of our strategy and are an effective way for us to return capital to shareholders,” said Lee Schram, CEO of Deluxe. “The new repurchase authorization is further evidence of the confidence we have in our ability grow our profitability and cash flow.”
Sun Chemical will implement a new price increase affecting its solvent- and water-based liquid inks in Europe, effective January 15, 2019.
Costs have risen annually on a variety of key raw materials used to manufacture inks, including solvents, acrylic derivatives, organic pigments, and polyols and isocyanates, which are the basic building blocks for numerous resins. Additionally, the ongoing initiatives in China to enforce tighter environmental regulations at chemical plants has resulted in ongoing supply disruptions.
“The increasing raw material costs continue at an unprecedented rate and require us to increase customer prices,” said Felipe Mellado, Chief Marketing Officer, Sun Chemical. “We will continue to work with our supply chain partners to manage and minimize the impact on our customers.”