GREENVILLE, S.C. (Nov. 28, 2005) — Michelin North America Inc. will raise prices up to 8 percent on various tire lines in 2006.
Michelin said it will hike prices up to 8 percent on Michelin, BFGoodrich, Uniroyal and private and associate brand replacement passenger and light truck tires in the U.S. effective Feb. 1 and in Canada effective March 1.
Prices for commercial truck tires will rise from 4 to 7 percent on Michelin and BFGoodrich brand replacement tires in the U.S. effective Feb. 1.
Earthmover tire prices will increase an average of 8 percent on Michelin brand replacement tires sold in North America, and agricultural tire prices will rise 3 to 7 percent for replacement tires in the U.S. and Canada, both effective Jan. 1.
Finally, aircraft tire prices will increase an average of 6 percent for general aviation and regional aircraft tires worldwide, effective Jan. 1.
In a separate announcement, Michelin confirmed plans to invest $80 million over the next six years to upgrade equipment and increase capacity at its semi-finished production facilities in Sandy Springs and Starr, S.C. Work will begin immediately in Starr, with about half of the investment slated to be spent in 2006, adding 25 new jobs.