Minneapolis, Minn. (March 15, 2005) - Conwed announced today they are increasing prices for their netting products by 5 – 10%. The price increase is due to continued rising costs of polypropylene resin, which has increased over 85 % since January of 2004. Demand for propylene and polypropylene continue to rise as current capacities for raw material suppliers remain flat. This combined with unprecedented pricing levels of natural gas and oil, the key building blocks for propylene and polypropylene, are causing continued price increases to Conwed.
Forecasting shows that resin prices will continue to rise through 2005 until additional
capacity comes on line. “Conwed has been diligent about streamlining processes and
reducing overhead to absorb the rising costs,” explained Steve Salvato, Vice President
Global Sales. “We are dedicated to producing high quality netting products that provide
superior product performance and to do so, we must raise prices.”
