DIAMOND BAR, Calif. (Nov. 30, 2009)—Citing an increase in raw materials costs, Nexen Tire America Inc. said it will raise prices 8 percent on its Korea-made products, effective Jan. 1.
The company also said it recently transferred the molds for its SM702 passenger tires from China to a production facility in Korea. The tires come in the following sizes, according to Nexen's Web site: 165/70R13; 175/70R13; 175/70R14; 185/70R13; 185/70R14; 195/70R14; 205/70R14; 205/70R15; 215/70R15; 225/70R16; P205/70R15; and P215/70R15.
A detailed price list will be distributed by Dec. 4, Nexen said, noting: “Look for adjusted pricing soon.”
All back orders will not be affected by the price hikes, Diamond Bar-based Nexen said, while all factory-direct container orders submitted for January production will be affected.