Firestone Industrial Products Monday announced an average price increase of up to six percent on its light-duty and heavy-duty air spring products. The increase, which the company says is driven by the escalating costs of raw materials specifically the unprecedented rise in the cost of natural rubber, is currently being deployed.
“We are committed to managing our product pricing through strategic programs and efficiency improvements internally, however, at this time we’re unable to offset rising commodity costs,” says Scott Damon, president at Firestone Industrial Products.
Earlier this year, many major tire manufactures announced a similar increase in tire prices.
