Propex To Increase Prices in January

Chattanooga, TN, December 17, 2007--Propex Flooring, the major supplier of primary and secondary carpet backing to the carpet industry, will increase prices 6 percent effective January 14.

The company said the increase is being driven by the continued rising cost of raw materials, primarily polypropylene resin.

“The price of polypropylene has continued to rise this year, with this November being the largest one month increase in recent history,” said Richard Franks, vice president of global flooring.

“Unfortunately, the increasing cost of petroleum based raw materials affects multiple products for the carpet industry while at the same time the industry is experiencing reduced demand for its products associated with a weak housing market.”Propex is committed to continue work on products that will improve the competitiveness of its customers.” said Richard Franks VP Global Flooring.