Marangoni Industrial Tyres raising prices in May

Rovereto, Italy – Marangoni Industrial Tyres will introduce an 8-percent increase in the selling price of all “industrial tires” business unit products starting from 15 May, the company has announced.

The price rises will be apply to markets invoiced in euros, according to a 31 March press statement from the Italian company.

Marangoni Industrial Tyres makes most of its products at its Sri Lanka factory and says the move will help it offset the effects of the significant strengthening of the US dollar and the consequent increase in production costs.

“So far, we have managed to reduce the negative impact of the US dollar/euro exchange rate, keeping down costs and thus avoiding extra costs for our customers,” said Lorenzo Stringari, Marangoni Industrial Tyres sales director.

However, he added that “in the current situation the margins on our products are no longer sustainable. The now consolidated appreciation of the dollar against the euro has forced us to revise our selling prices to partially offset this fall in margins.”

Earlier in the month, Canadian Camoplast Solideal announced that it would increase prices up to 10 percent for its material handling and construction products in Europe.

Citing the depreciation of the euro and other currencies against US dollar, the OTR tire maker said its price hike would come into effect as of 1 May.