DynaEnergetics Announces Global Price Increase

Rhea-AI Summary

DynaEnergetics, a part of DMC Global, announced a 5% global price increase on all products effective March 30, 2021. This decision comes as the oil and gas industry recovers from a downturn, with DynaEnergetics noting increased activity among customers. The company emphasizes its commitment to enhancing safety, efficiency, and reliability through its perforating products. In line with this, continuous investments are being made in new technologies to maintain competitiveness in a changing market.

Positive

• 5% price increase may enhance revenue.
• Increased customer activity indicates market recovery.
• Focus on new technology and product development could drive future growth.

Negative

• None.

HOUSTON, Feb. 16, 2021 (GLOBE NEWSWIRE) -- DynaEnergetics, a business of DMC Global Inc. (Nasdaq: BOOM), today announced it will implement a 5% global price increase on all products shipped on or after March 30, 2021. Account managers are contacting customers with implementation details.

“The oil and gas industry continues to recover following last year’s downturn,” said Ian Grieves, president of DynaEnergetics. “As customers work to address increasing activity, our perforating products and systems are enabling enhanced safety, greater efficiencies and reliability, and lower operating costs. We remain focused on developing new technologies, products and systems that improve our customers’ competitiveness in a rapidly evolving market.”

About DynaEnergetics
DynaEnergetics 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 Grieves
President
DynaEnergetics
+49.2241.1236.770
ian.grieves@dynaenergetics.com

FAQ

What is the reason for DynaEnergetics' price increase on March 30, 2021?

DynaEnergetics is implementing a 5% price increase due to recovering demand in the oil and gas industry.

How will customers be informed about the price increase by DynaEnergetics?

Account managers at DynaEnergetics are contacting customers to provide details regarding the implementation of the price increase.

What products are affected by DynaEnergetics' price increase?

The 5% price increase applies to all products shipped by DynaEnergetics.

When will the price increase take effect for DynaEnergetics products?

The price increase will take effect on March 30, 2021.

What market conditions prompted DynaEnergetics to increase prices?

The increase is prompted by a recovery in the oil and gas industry following last year’s downturn.