American Pacific Industries Inc. (API) has raised prices on its Gladiator brand medium truck tires up to 6%.
The hike went into effect today, Sept. 9. Only tires sold in North America were included in the increase.
"Increased demand, both globally and domestically, has caused raw materials to continue to escalate beyond the point of our expectations," says Barry Littrell, COO of API. "Unfortunately, we must pass a portion of these increased costs to our customers. It is our hope that raw material prices will stabilize at some point in the future."
