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Propex hikes prices of geotextile products by 15% from February

17 Jan '13

1 min read

Propex Infrastructure Solutions will implement a price increase of 15 percent on its full portfolio of geotextile and erosion control products, effective from February 1, 2013.

The company has announced that all orders must be received and shipped by 5:00 EST, Thursday, January 31, 2013, to be invoiced at current pricing and any new orders received or shipped after January 31, 2013 will be confirmed at the new price.

Moreover, the company anticipates that the current environment for petrochemical feedstock will continue to increase and expects additional price actions in the near future.

There are a number of dynamics and influencers occurring in the world of petrochemicals and specifically, polypropylene, the company said in a statement.

Polypropylene raw materials have been going through an extended period of volatility in recent period. Most of this volatility is driven by a higher demand that is greater than supply and industry availability. Prices for polypropylene resin have been at low levels for an unprecedented time period, but currently there is a dramatic rise in raw material feedstock drivers, the statement added.

Technicaltextile News Desk - India