Michelin North America to raise tyre prices in early 2006

Greenville, South Carolina -- Michelin North America Inc. will raise prices up to 8 percent on various tyre lines in 2006.

Michelin said it will hike prices up to 8 percent on Michelin, BFGoodrich, Uniroyal and private and associate brand replacement passenger and light truck tyres in the US effective Feb. 1 and in Canada effective March 1.

Prices for commercial truck tyres will rise from 4 to 7 percent on Michelin and BFGoodrich brand replacement tyres in the US effective Feb. 1.

Earthmover tyre prices will increase an average of 8 percent on Michelin brand replacement tyres sold in North America, and agricultural tire prices will rise 3 to 7 percent for replacement tyres in the US and Canada, both effective Jan. 1.

In addition, aircraft tyre prices will increase an average of 6 percent for general aviation and regional aircraft tyres worldwide, effective Jan. 1.

In a separate announcement, Michelin said it plans to invest $80 million over the next six years to upgrade equipment and increase capacity at its semi-finished production facilities in Sandy Springs and Starr, South Carolina. Work will begin immediately in Starr, with about half of the investment slated to be spent in 2006, adding 25 new jobs.

From Rubber & Plastics News (A Crain publication)