Propex Raising Prices Across The Board

Chattanooga, TN, Feb. 10, 2010--Propex Operating Company said it will raise prices across all four of its global business units--including its Flooring Solutions business-because of a shortage of propylene and increasing prices for resin.

“While this present situation commenced in North America, it has global implications throughout the supply chain," said said Ralph Bruno, executive vice president, Global Sales and Marketing.

"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,”

Propex said the increase will range from 12 - 20 percent varying by business unit and location.

Propex said resin prices have increased over 95% over the last year.

"We remain committed to our core value of global  leadership by investing in technology, innovation and product development,” Bruno said.

Propex is one of the leading independent suppliers of polypropylene carpet backing to the flooring industry.