Propex Announces Another Price Increase

Chattanooga, TN, March 16, 2010--The Furnishing Solutions Business Unit of Propex Operating Company is raising prices 7% for all products sold into the North American carpet, automotive, turf, furniture and bedding industries, effective April 1.

This comes on the heels of the price increases announced in February.

Propex said the move is being driven by rising prices for key raw materials, notably polypropylene resin. Over the past 12 months, the cost of polypropylene resin has doubled, Propex said.

“We refuse to let the unpredictable costs of hydrocarbons drive our business model," said Dave Gartshore, vice president of sales.

"As a company, we remain committed to maintaining reasonable margins that allow us to continue investing in product technology, service and manufacturing resources to help meet the needs of our customers.”