INDIANAPOLIS—Firestone Industrial Products L.L.C. will increase the prices of its light-duty and heavy-duty air spring products as much as 6 percent, the company said in a March 27 news release.
Rising raw materials costs, especially that of natural rubber, is driving the firm's decision to raise prices.
"We are committed to managing our product pricing through strategic programs and efficiency improvements internally," Firestone Industrial Products President Scott Damon said in a statement. "However, at this time, we're unable to offset rising commodity costs."
Firestone Industrial Products has specialized in research and development of technologically advanced air springs for more than 70 years.