Firestone Industrial Products LLC has announced average price increases of five percent on its North American light-duty and heavy-duty air spring products. The increase is driven by the escalating costs of raw materials and the unprecedented rise of costs of natural rubber, Firestone says. The new price increase will go into effect on April 1.
“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 market costs,” says John Vincent, president at Firestone Industrial Products.