9 February 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.”
This press release and future press releases will be posted online in the “Press Room” section of www.propexbrands.com.
About Propex Operating Company, LLC
Propex Operating Company, LLC is a global leader in the development, design, and manufacturing of brands and products that create advantages for customers. Propex’s footprint covers three continents, with 11 facilities totaling over five million square feet of manufacturing and more than 2,000 teammates focused on the markets the company serves. Often the inventor and always the innovator, Propex has both the heritage and vision which makes it the leader in the marketplace today that will continue to grow in the future in all facets of the company’s business.
Media Contacts
Sandy Stewart
Propex Operating Company, LLC
+1 423 553 2894
sandy.stewart@propexus.com
Brian Baker
The Johnson Group
+1 423 424 3075
bbaker@johngroup.com
