07.19.23
26b, Boulevard Royal
L-2449 Luxembourg
Luxembourg
Phone: +44 (0)161 776 6810
Fax: +44 (0)161 775 5415
www.flintgrp.com
Sales: 2022 global revenues of Flint Group were $1.88 billion (€1.7 billion)
Major Products: A wide range of inks, coatings, blankets, pressroom chemistry, consumables and more. Expertise in solvent-based, water-based, oil-based and energy curable technologies for various applications, including offset lithography, flexography, gravure, rotary screen, rotary offset, digital and letterpress. Products are designed to support nearly all print segments in the print media and packaging sectors. Flint Group also manufactures chips and resins for inks and other applications, aqueous dispersions, hyper dispersants and additives for the colorant market; pressroom chemicals; printing blankets; and digital printing equipment. With its Digital Solutions division (the Xeikon brand), Flint Group shows its commitment to expanding digital platforms offering a unique mix of equipment, consumables and services.
Key Personnel: Pierre-Marie De Leener, chairman; Steve Dryden, CEO Flint Group; Ron Muawad, Group CFO; Jeremy Berenzweig, general counsel and chief administration officer; Doug Aldred, chief commercial officer; Robert Welford, president digital solutions; Michael Fien, chief digitalization officer; Tony Lord, chief operations & supply chain officer; Darren Miller, chief HR officer.
Number of Employees: Approximately 5,300 worldwide.
Comments: The second-largest global ink manufacturer, Flint Group had a solid 2022, with sales holding steady at $1.88 billion. Flint Group CEO Steve Dryden said that despite inflation and weakening demand, Flint Group is well prepared to support its customers with innovative technologies and service.
“Global inflation is affecting the market overall, and we see weakening demand, which is especially pronounced in publication-related areas but also affecting packaging markets,” Dryden said. “The focus now resides on cost control, destocking, and debottlenecking to ensure optimized operations and refined production. In this current environment, Flint Group continues to support customers with products and services to increase efficiencies and reduce costs and, as always, is focused on reliability of supply to its customers.”
Sustainability remains front of mind for brand owners and package printers. Dryden pointed out that Flint Group continues its focus on this critical topic across its business and celebrated several milestones over the past 12 months. Importantly, Flint Group committed to the Science Based Target Initiative (SBTi) by agreeing to reduce its greenhouse gas emissions in line with the goals of the Paris Agreement.
In 2023, Flint Group increased its EcoVadis score, gaining a seven-point improvement in its Silver rating over 2022. A key driver for the improved score is the considerable rise in its Environmental score from 50 to 70 points.
In September 2022, Flint Group’s Evolution Deinking Primer was awarded the Environmental Sustainability Award at the Global Label Awards during Labelexpo Americas. The primer was recognized as a significant contributor to a circular economy in packaging.
In May 2023, Flint Group launched its PRISM sustainability framework that includes a range of targets and KPIs that pave the way for even more sustainable products, reducing waste and carbon footprint, and caring for and diversifying its workforce.
“Ultimately, printers and converters across all markets are looking for their suppliers to work with them to increase efficiency, manage their risks and ensure continuity of production, and support their objectives to be cleaner, ‘greener,’ printers,” Dryden added.
Dryden observed that there are significant trends impacting the printing and ink industries.
“Overall, multiple consumer trends have affected printing ink markets, including a downturn in consumer confidence, reduced discretionary spending, and consumers turning to private label brands, which typically have simpler designs and less complex artwork to save money,” he said.
“We see some decline in printing and packaging markets. However, solvent-based applications are proving resilient due to high exposure and use on essential consumer products, such as food, beverages and pharmaceuticals,” added Dryden. “On the publication and commercial side, we continue to see an accelerated decline, which was already present in the pre-pandemic market and this inflationary environment.”
After further destabilization in raw material supply during most of 2022, the situation has started to normalize in early 2023.
“Raw material supply was unstable throughout the first eight months of 2022,” Dryden said. “Then, due to the war in Ukraine coupled with post-COVID supply imbalances and production cuts, nearly all raw material groups experienced a further cost increase.
These increases were mainly driven by global labor inflation and uncertainty around energy supply and related cost impacts in Europe. Early in 2023, when energy markets calmed and the economic outlook deteriorated, the raw material supply situation reverted, becoming more ‘normal,’ and costs stabilized.”
As for capital improvements, Dryden reported that Flint Group is focused on continuous improvements that focus on how the company can better serve the needs of customers. This includes increased capacity to meet the growth projections of core packaging markets and continued development to streamline and increase operational efficiency for swift response to market needs.
“In addition, further investment has been made within the publication business to centralize manufacturing within its core markets to ensure Flint Group’s commitment to the publication sector remains,” added Dryden.
Dryden noted that a topic affecting all members of the value chain is acquiring, developing and retaining talent.
“The printing industry is facing an unprecedented lack of skilled labor caused by a myriad of factors. As older generations retire, there is a growing lack of highly trained personnel; younger generations are not as exposed to the trades industry as in the past; there is a lack of training and mentoring within the printing industry which reduces longevity in the job; and entry level pay doesn’t interest ‘entry level’ staff,” Dryden said.
In spite of raw material costs coming under some semblance of control, inflation is leading to higher prices elsewhere, such as in labor and energy costs.
“Global inflation contributes to weakening and volatile markets, presenting a cost landscape that continues to change,” Dryden observed. “While there may be some potential alleviation on raw materials, labor costs become increasingly challenging.
Furthermore, energy cost continues to be a concern, especially in Europe.
“Aside from top-of-mind inflationary topics, regulatory – which is closely tied to sustainability – will continue to gain momentum as a critical topic for packaging and labels,” he added. “All players working within packaging markets should pay close attention to the outcomes of the European Green Deal, monitor activity within the U.S. legislation, and be aware of regional regulations affecting packaging.”
L-2449 Luxembourg
Luxembourg
Phone: +44 (0)161 776 6810
Fax: +44 (0)161 775 5415
www.flintgrp.com
Sales: 2022 global revenues of Flint Group were $1.88 billion (€1.7 billion)
Major Products: A wide range of inks, coatings, blankets, pressroom chemistry, consumables and more. Expertise in solvent-based, water-based, oil-based and energy curable technologies for various applications, including offset lithography, flexography, gravure, rotary screen, rotary offset, digital and letterpress. Products are designed to support nearly all print segments in the print media and packaging sectors. Flint Group also manufactures chips and resins for inks and other applications, aqueous dispersions, hyper dispersants and additives for the colorant market; pressroom chemicals; printing blankets; and digital printing equipment. With its Digital Solutions division (the Xeikon brand), Flint Group shows its commitment to expanding digital platforms offering a unique mix of equipment, consumables and services.
Key Personnel: Pierre-Marie De Leener, chairman; Steve Dryden, CEO Flint Group; Ron Muawad, Group CFO; Jeremy Berenzweig, general counsel and chief administration officer; Doug Aldred, chief commercial officer; Robert Welford, president digital solutions; Michael Fien, chief digitalization officer; Tony Lord, chief operations & supply chain officer; Darren Miller, chief HR officer.
Number of Employees: Approximately 5,300 worldwide.
Comments: The second-largest global ink manufacturer, Flint Group had a solid 2022, with sales holding steady at $1.88 billion. Flint Group CEO Steve Dryden said that despite inflation and weakening demand, Flint Group is well prepared to support its customers with innovative technologies and service.
“Global inflation is affecting the market overall, and we see weakening demand, which is especially pronounced in publication-related areas but also affecting packaging markets,” Dryden said. “The focus now resides on cost control, destocking, and debottlenecking to ensure optimized operations and refined production. In this current environment, Flint Group continues to support customers with products and services to increase efficiencies and reduce costs and, as always, is focused on reliability of supply to its customers.”
Sustainability remains front of mind for brand owners and package printers. Dryden pointed out that Flint Group continues its focus on this critical topic across its business and celebrated several milestones over the past 12 months. Importantly, Flint Group committed to the Science Based Target Initiative (SBTi) by agreeing to reduce its greenhouse gas emissions in line with the goals of the Paris Agreement.
In 2023, Flint Group increased its EcoVadis score, gaining a seven-point improvement in its Silver rating over 2022. A key driver for the improved score is the considerable rise in its Environmental score from 50 to 70 points.
In September 2022, Flint Group’s Evolution Deinking Primer was awarded the Environmental Sustainability Award at the Global Label Awards during Labelexpo Americas. The primer was recognized as a significant contributor to a circular economy in packaging.
In May 2023, Flint Group launched its PRISM sustainability framework that includes a range of targets and KPIs that pave the way for even more sustainable products, reducing waste and carbon footprint, and caring for and diversifying its workforce.
“Ultimately, printers and converters across all markets are looking for their suppliers to work with them to increase efficiency, manage their risks and ensure continuity of production, and support their objectives to be cleaner, ‘greener,’ printers,” Dryden added.
Dryden observed that there are significant trends impacting the printing and ink industries.
“Overall, multiple consumer trends have affected printing ink markets, including a downturn in consumer confidence, reduced discretionary spending, and consumers turning to private label brands, which typically have simpler designs and less complex artwork to save money,” he said.
“We see some decline in printing and packaging markets. However, solvent-based applications are proving resilient due to high exposure and use on essential consumer products, such as food, beverages and pharmaceuticals,” added Dryden. “On the publication and commercial side, we continue to see an accelerated decline, which was already present in the pre-pandemic market and this inflationary environment.”
After further destabilization in raw material supply during most of 2022, the situation has started to normalize in early 2023.
“Raw material supply was unstable throughout the first eight months of 2022,” Dryden said. “Then, due to the war in Ukraine coupled with post-COVID supply imbalances and production cuts, nearly all raw material groups experienced a further cost increase.
These increases were mainly driven by global labor inflation and uncertainty around energy supply and related cost impacts in Europe. Early in 2023, when energy markets calmed and the economic outlook deteriorated, the raw material supply situation reverted, becoming more ‘normal,’ and costs stabilized.”
As for capital improvements, Dryden reported that Flint Group is focused on continuous improvements that focus on how the company can better serve the needs of customers. This includes increased capacity to meet the growth projections of core packaging markets and continued development to streamline and increase operational efficiency for swift response to market needs.
“In addition, further investment has been made within the publication business to centralize manufacturing within its core markets to ensure Flint Group’s commitment to the publication sector remains,” added Dryden.
Dryden noted that a topic affecting all members of the value chain is acquiring, developing and retaining talent.
“The printing industry is facing an unprecedented lack of skilled labor caused by a myriad of factors. As older generations retire, there is a growing lack of highly trained personnel; younger generations are not as exposed to the trades industry as in the past; there is a lack of training and mentoring within the printing industry which reduces longevity in the job; and entry level pay doesn’t interest ‘entry level’ staff,” Dryden said.
In spite of raw material costs coming under some semblance of control, inflation is leading to higher prices elsewhere, such as in labor and energy costs.
“Global inflation contributes to weakening and volatile markets, presenting a cost landscape that continues to change,” Dryden observed. “While there may be some potential alleviation on raw materials, labor costs become increasingly challenging.
Furthermore, energy cost continues to be a concern, especially in Europe.
“Aside from top-of-mind inflationary topics, regulatory – which is closely tied to sustainability – will continue to gain momentum as a critical topic for packaging and labels,” he added. “All players working within packaging markets should pay close attention to the outcomes of the European Green Deal, monitor activity within the U.S. legislation, and be aware of regional regulations affecting packaging.”