Marangoni hikes prices in Europe

Marangoni SpA has hiked the prices of its retreading products in Europe by 7%, citing raw material price increases as the reason.

"In the last months, natural rubber has seen a high rise in price, overcoming the peak reached in October 2008, due to global production reduction and a rise in demand coming from Asian countries," say Marangoni officials.

A new European law that requires the use of non-polyaromatic oils in tire compounds also contributed to Marangoni's decision to raise prices.