By Patrick Raleigh, ERJ On-line news editor
Auburn Hills, Michigan- Solvay Engineered Polymers is increasing pricess of its thermoplastic polyolefin materials by $0.04 per pound with effective 1 May. The move, it said, was prompted by sharp rises in raw material prices combined with price erosion in the TPO market.
Polypropylene prices have risen by more than 50 percent since 2002, and propylene monomer prices are moving towards record highs, according to Bob Gerlach, the company's vice president for sales and marketing.
â€œOn the other hand, our product prices have declined by more than 15 percent over the past three years, as our customers have continued to demand-and to receive-price consideration and productivity support to help relieve the constant pressure being placed on them by almost every OEM carmaker.â€ Gerlach said in a press statement.