Continental announces price increases

May 31, 2001

Continental Tire North America (CTNA) Inc. will raise prices on all of its passenger and light truck tires up to 5% on July 1.

"The price increase is necessary due to the continuing increase in raw material, labor and medical costs," says Jerry Potter, CTNA controller.

Yesterday, Pirelli Tire North America Inc. also announced price hikes of up to 5% on its passenger and light truck tire lines, effective July 1.

Goodyear Tire & Rubber Co., Bridgestone/Firestone Inc. and Michelin North America Inc. announced coming price increases earlier this month, as well.