 Camoplast Solideal tyres are set to for price increases |
Tyre manufacturer Camoplast Solideal will increase its prices by up to 10% for its materials handling and construction products in Europe on May 1, 2015.
The manufacturer blames the weakness of the Euro for its decision.
"The cost of raw materials, labour and shipping are all dollar-based activities for our business," says François Augnet, chief operating officer - construction and materials handling at Camoplast Solideal.
"Initially, we were able to offset the impact of this negative exchange rate with favourable raw material costs but as the Euro has continued to deteriorate, maintaining this balance was no longer possible. Despite this rational price increase, we remain committed to delivering the most competitive products in the industry to our dealer and distribution network to ensure their continued success."
The announcement comes a month after a similar move from rival Trelleborg Wheel Systems
(Forkliftaction.com News #706).
Trelleborg will hike its prices in April, with rises of 7-10% applied to specific markets.
Those increases apply to the Europe, Middle East and Africa region and all other markets outside of US dollar-denominated markets.
Like Camoplast, Trelleborg also attributes the pricing move to the strength of the US currency.