Propex To Increase Backing Prices in May

Chattanooga, TN, April 9, 2008–Propex Inc., the largest independent supplier of primary and secondary carpet backing, said it will raise prices 7 percent effective May 5.

The increase is driven by the increasing cost of raw materials, primarily polypropylene resin.

“The march of oil to over $100 per barrel is having its cascading effect on industry cost. Propex is undertaking a significant effort to reduce cost and reduce the industry vulnerability to future increases in raw materials,” said Richard Franks, vice president of Global Flooring.