Solideal increases tyre prices

For the third time this year, Solideal Group will increase tyre prices. The group announced prices in Europe will increase by 7% to 8% and take effect from October and November 2008.

Forkliftaction.com News reported the last price increase of 8% to 12% in July. ( Forkliftaction.com News #368).

The group says in a statement the price increase is due to the continuous cost increases of raw materials. Solideal says it did not anticipate the extent of these increases.

Solideal says it consistently strives for production efficiencies and cost reductions through research and development, but it has been forced to recover some of the recent cost increases through this price hike.