Feb 10 2010
In response to several North American polypropylene suppliers declaring force majeure, Propex Operating Company, LLC will be raising prices across all four of its global business units – Flooring Solutions, Geosynthetics, Concrete Solutions and Performance Technologies.
"While this present situation commenced in North America, it has global implications throughout the supply chain. In reaction to this widespread shortage of propylene, we have mobilized our global reach and market leadership to ensure ample supply to meet all of our customer demands and strategic growth initiatives," said Ralph Bruno, Executive Vice President, Global Sales and Marketing.
Bruno added, "The amount of the increase will range from 12 - 20% varying by business unit and location. With resin prices increasing over 95% since January of 2009, the increase is necessary. We remain committed to our core value of global leadership by investing in technology, innovation and product development."
Source: http://www.propexbrands.com