KORTRIJK, Belgium (Feb. 19, 2008) — Bekaert Group said it will raise the price of steel cord products globally, effective April 1.
The company didn´t disclose how much prices will increase. A spokesman said the increases are driven mainly by wire rod price hikes, which differ by region, and that all regions are experiencing price jumps.
Steel cord products are used in tires, hydraulic hoses, transport belts, timing belts and other industrial products.
The firm said despite its improved productivity and reduced production costs that raw materials, energy and transport expenses continue to climb and are too significant to absorb