Camoplast Solideal, an off-highway tyre manufacturer, says it will introduce an up to 10% price increase for its Material Handling and Construction products in Europe from 1 May 1 2015.
The company says the move follows the ongoing depreciation of the euro and other currencies compared to the strong US dollar.
“The cost of raw materials, labour and shipping are all dollar-based activities for our business. Initially, we were able to offset the impact of this negative exchange rate with favourable raw material costs but as the euro has continued to deteriorate, maintaining this balance was no longer possible,” said François Augnet, Chief Operating Officer – Construction and Material Handling at Camoplast Solideal. “Despite this rational price increase, we remain committed to delivering the most competitive products in the industry to our dealer and distribution network to ensure their continued success,” concluded Augnet.
