Marangoni Industrial Tyres announces mid-May price hike
Marangoni Industrial Tyres has announced an eight per cent increase in the selling price of its tyres from 15 May. Marangoni said the price rises will be applied to markets invoiced in euros. Lorenzo Stringari, Marangoni Industrial Tyres sales director, stated: “So far, we have managed to reduce the negative impact of the US dollar/euro exchange rate, keeping down costs and thus avoiding extra costs for our customers.
“Nonetheless, while hoping the exchange rate returns to previous levels, in the current situation the margins on our products are no longer sustainable. The now consolidated appreciation of the dollar against the euro has forced us to revise our selling prices to partially offset this fall in margins.
“Marangoni will introduce this price rise while continuing to be committed to supplying the industry products with high technological know-how, together with evolved, efficient and extensive service.”
Marangoni Industrial Tyres makes most of its products at its Sri Lanka factory. The manufacturer argues that it “needs to offset the effects of the significant strengthening of the US dollar and the consequent increase in production costs,” factors affecting other manufacturers in the sector.