14 Dec 2004
Paris--Michelin has issued a statement saying it is raising prices for all types of tyre across Europe, blaming the increases in higher costs of raw materials. Michelin said it is now paying 40 percent more for raw materials than it was in 2000.
"Between December 2004 and July 2005, Michelin will increase tire prices in Europe by an average of 5%. The increase will concern all of the company's tire ranges, including Car and Van, Heavy Truck, Earthmover, Agriculture, Motorcycle and Bicycle, and Aviation," said the statement.
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