Tyre prices set to rise again
Tyre maker Camso has announced a price increase averaging 8% for all of its materials handling and construction products, as of April 1, 2017.
Camso attributes the increase to rising costs of raw materials.
The price increase will affect all aftermarket customers globally, but will vary depending on product line and regions.
"Raw material prices have increased significantly and additional increases are expected," says Derek Bradeen, Camso's global director of brand and communications. "Faced with this reality, we're compelled to reflect this in the pricing of our products," concludes Bradeen.
Camso says it remains committed to delivering the best performing and most competitive products that meet the unique niche mobility needs of the compact construction and materials handling industries.
Camso, formerly Camoplast Solideal, is one of the largest manufacturers of off-road tyres, wheels, rubber tracks and undercarriage systems for the materials handling, construction, agricultural and powersports industries.
The Camso increase announcement follows a 6% rise introduced last month by Italian manufacturer Marangoni Industrial Tyres.
That increase was also blamed on the rising prices of raw materials.
"The most crucial factors are the demand increase, weakness of the Euro compared to the Dollar and the spike in the price of natural rubber, which has almost doubled in the last 12 months," the company says in a statement.
Sri Lanka's GRI (Global Rubber Industries) has also confirmed to Forkliftaction News
that it will increase prices from 1 April "between 5-8% based on the product line".
It is not clear if other major manufacturers will follow suit, but since all are impacted by the same supply conditions, further increases are likely.