When increasing raw material costs finally forced many ink companies to raise their prices in 2000, there was hope within the industry and among suppliers that perhaps better days in terms of profitability were ahead. The National Association of Printing Ink Manufacturers’ (NAPIM) State of the Industry Report confirmed that, showing that earnings before interest and taxes (EBIT) and return on net assets (RONA) were up slightly in 2000. However, this same report also highlighted a serious p...