DynaEnergetics Announces Price Increase on Perforating Carriers to Offset Impact of Steel and Aluminum Tariffs
HOUSTON, March 22, 2018 (GLOBE NEWSWIRE) -- DynaEnergetics announced it is implementing a price increase applicable to North American sales of its perforating carriers effective April 1. The increase is intended to offset recently implemented tariffs on steel and aluminum in accordance with Section 232 of the Trade Expansion Act. Prices on DynaStage™ systems are expected to increase 3.5% to 5% and carrier prices are expected to increase 10% to 15%, depending on product configuration. Account managers will contact customers in the coming days with specific adjustments and implementation details.
Frank Preiss, vice president and general manager of the Americas, said, “Our objective in increasing carrier prices is solely to offset higher input costs resulting from these tariffs. We are working with our suppliers to keep the prices as low as possible, and also are pursuing an exclusion for perforating-carrier steel from the tariff given that domestic production is not sufficient to meet industry demand.”
About DynaEnergetics
DynaEnergetics’ innovative perforating systems make a measureable impact on well productivity, completion cost and safety. As the only global perforating manufacturer that designs, manufactures and qualifies all of its equipment and accessories in-house, DynaEnergetics ensures unmatched performance and the lowest total cost of operations. DynaEnergetics is a business of publicly traded DMC Global Inc. (Nasdaq:BOOM). For more information, visit www.dynaenergetics.com.
Contact:
Frank Preiss,
Vice President and General Manager, Americas
DynaEnergetics
1.720.899.0542
frank.preiss@dynaenergetics.com
Released March 22, 2018