Due to the escalating costs of raw materials, Firestone Industrial Products Co. says it will increase its prices by up to 5 percent on air springs for the North American heavy-duty aftermarket, effective July 1.
“Raw material prices continue to rise, and despite our diligent efforts to manage external costs through internal cost reductions and efficiency improvements, it is necessary for us to increase our prices at this time,” says Mike Cerio, president of Firestone Industrial Products. “While the programs we have implemented have helped, currently we are unable to fully combat these escalating costs.”
