Spicers is raising its prices on paper, as confirmed by CEO David Martin to Australian Printer earlier today.
Coated, uncoated, digital and carbonless grades will increase by 8 per cent, while all others will rise by 6 per cent.
David Martin, CEO, Spicers says, “We have raised prices, and spoken to our customers. We took that course of action first as they are the ones impacted. We have been trying to give them as much notice as we can.
“The increase follows on from mills globally, they are all increasing prices. Some have had a second bite of the cherry in not-too-short order.
“So it is merely passing on what is coming through the industry. We were talking to our customers. It has been coming quickly. Even while the cost of pulp is where it is, demand still remains high from other countries for paper.”
With Spicers now raising prices, all the major merchants have seen end-of-year increases.
Spicers has also entered into an agreement for Scottish Pacific Business Finance (Scottish Pacific) to provide a receivables backed financing facility, providing up to $30m over two-years with covenant-free terms.
It replaces a similar receivables backed financing facility, which was due to expire in March 2018. Martin says, “It is about locking down funding for the future, with flexible and covenant-free terms for Spicers. It helps us with access, ensuring that we have a line of funding available. It is a normal business operation to lock down funding for the business.”
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