Sumitomo, Falken, Ohtsu prices rising worldwide

ERJ staff report (TB)

Kobe, Japan -- Sumitomo Rubber Industries Ltd., through its SRI Tire Trading Ltd. unit, plans to raise prices of Dunlop,- Falken-, Sumitomo- and Ohtsu- brand passenger, light truck, truck/bus and motorcycle tyres it exports by 5 to 10 percent in January in markets outside of Japan, including Europe.

SRI cited rising costs for raw materials, especially natural rubber, for the need to increase prices. SRI “cannot absorb such additional costs by their own internal efforts including productivity enhancement and cost reduction,” the company said in a prepared statement.

While most of the increases will be in the 5- to 10-percent range, some prices may rise as much as 15 percent depending on categories, sizes and markets.

The areas affected are: Asia; Near and Middle East; North America; Europe; Central and South America; Africa; and Pacific nations.

From Tire Business (A Crain publication)