INDIANAPOLIS (Sept. 29) — Firestone Industrial Products Co. increased prices by up to 7 percent on all its product lines effective Oct. 1
The price hikes affect all air springs and associated industrial products sold through original equipment (both heavy-duty and automotive), industrial and aftermarket channels.
The operating unit of BFS Diversified Products L.L.C. blamed the increases on the "unprecedented, dramatic" spike in raw material costs.
"The continued escalated cost of steel and natural rubber, coupled with recent increases in petrochemical and energy costs, has impacted production costs of all the products that we manufacture," said Mike Cerio, president of Firestone Industrial Products. "Our ongoing improvements in manufacturing and operational efficiency cannot offset these cost increases."