Cooper Tire & Rubber Co. Chairman, CEO and President Tom Dattilo says more price increases from the company "are warranted" due to high raw material costs and Cooper´s growing brand equity.
Crude oil prices are up more than 75%, Dattilo told investors yesterday. "Raw materials will present a continuing challenge."
A future 2% to 3% price hike "is certainly not unreasonable."
Dattilo also revealed that during the third quarter, Cooper had "gained market share in virtually every light vehicle category, with the exception of broad line."
