AUBURN HILLS, Mich. (March 30)—Solvay Engineered Polymers Inc. will raise prices 4 cents per pound on truckload volumes of its entire line of thermoplastic polyolefin materials.
Effective May 1, the increase impacts all customers who are not currently under contract. Citing reasons for the action, Bob Gerlach, vice president for sales and marketing, said polypropylene prices have risen more than 50 percent since 2002 and propylene monomer prices are nearing record highs. Solvay predicts elevated costs will run through 2005.
The firm's product prices have declined more than 15 percent over the past three years, as customers have continued to demand—and receive—price consideration and productivity support to help relieve the constant pressure placed on them by nearly every auto maker, Gerlach said.