Magog, Québec – Camoplast Solideal will implement a price increase of up to 10 percent for its material handling and construction products in Europe as of 1 May following the depreciation of the euro and other currencies against US dollar.
“The cost of raw materials, labour and shipping are all dollar-based activities for our business.
“Initially, we were able to offset the impact of this negative exchange rate with favourable raw material costs but as the euro has continued to deteriorate, maintaining this balance was no longer possible,” said François Augnet, chief operating officer – construction and material handling at Camoplast Solideal.
Augnet, however, stressed that Canadian company would remain committed to delivering competitive products in the industry to its dealer and distribution network.
Camoplast Solideal is a manufacturer of off-the-road tire and claims it can meet all tire and track performance requirements for compact construction equipment.