[Source: Yokohama Tire]
Yokohama Tire Corporation to Adjust Prices on Consumer Tires up to 6 Percent
FOR IMMEDIATE RELEASE
FULLERTON, Calif. (June 2, 2008) - Due to continued record increases in the costs of raw materials and energy, Yokohama Tire Corporation announced it will adjust prices accordingly on its consumer tires by up to 6 percent, effective July 1, 2008. There will be in-line adjustments, as well, which will be announced at a later date. Commercial Light Truck, Medium Truck and off-the-road (OTR) tires will not be affected by the increase.
"We are doing our best to contain our costs, but raw materials, energy and transportation costs continue to reach record-high escalations. These costs, unfortunately, have to be reflected in Yokohama's pricing," said Dan King, Yokohama vice president of sales.
"It's a volatile business climate right now that's causing our costs to soar," said Jim MacMaster, Yokohama executive vice president, Business Division. "As always though, by continuing to operate efficiently, using the latest manufacturing technologies and environmental procedures, Yokohama is firm in its commitment to bring the best products to market at competitive prices."
Yokohama Tire Corporation is the North American manufacturing and marketing arm of Tokyo, Japan-based The Yokohama Rubber Co., Ltd., a global producer and distributor of premium tires since 1917. Servicing a network of more than 4,500 points of sale in the U.S., Yokohama Tire Corporation offers a complete line of tires, including high-performance, light truck, passenger car, commercial truck and bus, as well as off-the-road mining and construction applications. For more information on Yokohama's extensive product line, visit www.yokohamatire.com. For details on Yokohama's environmental efforts, go to www.ecotreadsetters.com.
Yokohama is a strong supporter of the tire care and safety guidelines established by the Rubber Manufacturers Association and the National Highway Transportation and Safety Administration. Details can be found at the "Taking Care of Your Tires" section at www.yokohamatire.com.