Yokohama raises price on export tyre products by 5-15%

Tokyo - Yokohama Rubber Co. Ltd will start raising prices of its export tyre products next month by between five and 15 percent.

The Japanese firm said the price hike - on tyres and tubes for passenger cars, trucks, buses and construction and mining equipment - will ''partially offset'' the rising cost of natural rubber, synthetic rubber, carbon black and other petrochemical products.

Yokahama said it as tried to absorb a ''surge'' in raw material and energy costs since 2004 through internal cost reductions but further increases in 2006, as well as a rise in shipping costs, made this price hike necessary.

''Further price increases are possible subject to trends in raw material costs,'' a company statement said.