ROVERTO, Italy—Marangoni S.p.A. has increased its prices across Europe in response to rising raw materials costs.
The company announced Feb. 13 that prices would increase between 4 percent and 8 percent for rubber materials used to retread tires in all European countries, depending on the product category. The price adjustments will be applied to markets invoiced in Euros, while the sales price percentage increase will be different in other currencies.
Price adjustments took effect this month.
According to Marangoni, the price rise reflects the cost of raw materials which is being driven increase in demand for the materials and a reduction in their supply. The company said the price of polymers, and particularly natural rubber, "make this corrective intervention necessary after a few months of constant growth."
The price increase follows an extended period (2012-15) where raw materials and tire prices decreased in parallel and regularly. Looking ahead, the company forecasts suggested further raw materials price growth within the next quarter, which could lead to further price hikes.