DynaEnergetics Announces Global Price Increase
19 October 2021 - 10:00PM
DynaEnergetics, a business of DMC Global Inc. (Nasdaq: BOOM), today
announced it will re-implement a 5% global price increase on all
products shipped on or after November 22, 2021. DynaEnergetics
announced a price increase in this year’s second quarter, but
postponed its implementation in order to support customers
navigating an extremely competitive market.
Ian Grieves, president of DynaEnergetics, said,
“Concurrent with improved industry fundamentals that include
sharply higher oil and gas prices and increased well completion
activity, there has been a considerable escalation in labor and
material costs. This price adjustment is necessary to offset those
increases, as well as the anticipated wind down of the federal
government’s CARES Act.”
Grieves added, “In today’s tight labor market,
the efficiency and performance benefits of DynaEnergetics’
perforating systems are especially pronounced. Our DS systems are
the only perforating products that are fully integrated, and
factory assembled. They are delivered just in time to the wellsite,
enabling customers to reduce inventory, streamline their supply
chains, eliminate assembly operations and deploy fewer people to
location.”
About
DynaEnergeticsDynaEnergetics designs, manufactures and
supplies a comprehensive suite of perforating products and systems
for the global oil and gas industry. The business’ products are
designed to enhance safety, productivity and operational efficiency
of conventional and unconventional oil and gas wells. Continuous
investments in quality, service and innovation keep DynaEnergetics
and its customers at the forefront of the perforating sector.
Contact:Ian
GrievesPresidentDynaEnergetics
+49.2241.1236.770ian.grieves@dynaenergetics.com
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