INDIANAPOLIS (July 2, 2008) — Firestone Industrial Products Co. L.L.C. said it plans to boost the prices of its air springs between 4 and 6 percent, effective Oct. 1.
The increase is for the light-duty and heavy-duty markets, and is in addition to the price hike the company announced for the products May 5.
Firestone said North America has experienced significant cost increases of raw materials, logistics, transportation and energy. The firm said the raw materials that directly impact its products — namely steel, plastic, carbon black and natural rubber — had unprecedented second-quarter price increases, in some cases almost doubling during the period.