API hiking prices up to 10% on 7 brands
Tire Business staff report, a Crain publication
Valencia, California - American Pacific Industries Inc. (API) is increasing prices up to 10 percent, effective immediately, in North America on the range of truck tyres to which it has distribution rights.
Barry Littrell, Valencia-based API's chief operating officer, cited “continued raw material escalation, led by the unprecedented increase in natural rubber,†as the reasons for the increase.
Thje products included are its Achilles, Advance, Armour, Farmking, Gladiator, Hartland and Pegasus brands.
On 9 Sept. API raised prices in North America on its Gladiator-brand medium truck tyres by up to 6 percent. It was, at that point, the company's third price increase for Gladiator truck tyres this year, after previously hiking prices up to 6 percent on 15 June and up to 8 percent on 1 Feb.
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