Consumer Tires Retail Suppliers Wholesale Distribution

Rising raw material costs force Nexen's hand

Order Reprints

Nexen Tire America Inc. will raise prices on its Korea-made products 8% on Jan. 1, 2010.

"Once again, our industry is taking an increase in raw materials, and Nexen is not immune to the increase," says the company.

In addition to the price increase, Nexen's parent company, Nexen Tire Corp., has transferred the molds for its SB702 all-season high performance tire from China to Korea. "Look for adjusted pricing soon," says Nexen.

The company adds that back orders will not be affected by the price increase. "All factory-direct container orders submitted for January 2010 production will be affected by the... increases."

Related Articles

Raw material costs force Michelin to raise prices on truck tires and retreaded products

Raw material costs force Michelin to increase prices in Europe

Rising costs force price hikes by Falken

You must login or register in order to post a comment.