GRI increases industrial tyre prices
GRI (Global Rubber Industries), an industrial tyre manufacturer based in Sri Lanka, has announced plans to raise prices by between 8 per cent and 9.5 per cent. According to statement released by the company, the precise price increase depends on which country in the European market and is effective from 1 May 2015.
Company representatives explained that the prices increase comes as a result of the weakening of the euro against the US dollar: “Since our costs and prices are based on the US dollar, the depreciation of the euro over the past few months has had a significant negative impact on our European business,” said Asela Gunawardena, director of sales and marketing at GRI, adding: “Financial analysts as well as economists do not expect strengthening of the euro in the near future. Therefore, regrettably we have to raise our euro prices to sustain our business in Europe.”
In spite of this price increase, GRI reports that it remains steadfast in its pursuit of “excellence, producing some of the finest tyres in the industry for its loyal customers and ensuring their success” in a bid to be counted amongst the top industrial tyre players in the world.