Yokohama raising OTR tires 10 percent May 1
Tina Grady Barbaccia | April 5, 2011
Yokohama Tire Corporation will implement a price increase of up to 10 percent on all of its off-the-road (OTR) tires in the United States, effective May 1. There will be in-line adjustments, as well, which will be announced at a later date.
Gary Nash, Yokohama vice president, OTR sales, said the price increase was not due to the recent earthquake in Japan.
“It’s from the escalating costs of raw materials, such as natural rubber,” he said.
Additional factors necessitating the increase, according to Nash, are the rising costs in transportation and manufacturing.“We do our best to integrate our operational efficiencies, technology and environmental procedures to produce the best OTR tires at competitive prices. The increasing costs, unfortunately, must be reflected in our product pricing.”
MORE FROM Economics
- Congress passes spending bill; cuts billions from federal construction accounts555 Views
- Maintaining America’s most historic tourist routes530 Views
- Tappan Zee bridge construction shut down after silos collapse473 Views
- Last second Christmas gift ideas for highway and bridge construction workers138 Views
- With no plans to raise gas tax, Alabama will rely on 2015 bond issue for road projects75 Views