Bandag Inc. implemented a price increase on most of its retreading marterials in North America on May 1.
"All tread rubber products in the United States will increase by a pound per weighted average of 12 cents and by 17 cents in Canada," Bandag officials disclosed in an official statement today.
They attribute price hikes to "world market factors (that) continue to drive up raw material costs, which cannot be absorbed through increased efficiencies or productivity."
Bandag enjoys 43% of the U.S. truck tire retread market, according to Modern Tire Dealer statistics.
