The increase in price will apply to Sappi’s coated and uncoated flexpack paper, siliconising base papers and label papers.
The company cited sustained increases in input costs, including pulp, chemicals and transport, saying that the price rise was needed to restore margins.
Implementation of the price adjustment will be addressed in the coming weeks with Sappi Fine Paper Europe clients on an individual basis.
A spokeswoman said: “We believe our markets are strong enough to be able to sustain such a price increase.”
The move follows similar price increases initially announced at the end of last year across Sappi’s graphic paper range, which came into effect in February this year. Meanwhile, the same price increase across the rest of its coated fine paper range came into effect in February.
Earlier this month Sappi’s global Q2 financial results illustrated the impact of the weak market conditions, particularly in Europe, with an operating profit excluding exceptional items of just $40m (£26m) compared with $125m in the same quarter of 2012 and $73m in the quarter to 31 December.
Sappi chief executive Ralph Boettger said that market conditions for the paper businesses, particularly in Europe, were expected to continue to be weaker than previously envisaged.
He added: “The price increases in Europe, to date, have not been sufficient to restore margins given rising input costs. Despite the interventions and major cost reductions that have taken place, we expect the European business to only achieve a breakeven operating profit excluding special items for the full year.”
Boettger warned that the poor performance would necessitate “further action” and that the company was currently “evaluating a number of options that could result in capacity and cost reductions in our European business”.