AKRON (Feb. 24, 2017) — Maxam Tire North America Inc. and Pirelli Tire North America/TP Commercial Solutions L.L.C. are raising prices on their respective brands, effective April 1.
Danvers, Mass.-based Maxam Tire, a division of Maxam Tire International S.a.r.l., will increase prices in the U.S. and Canada on all radial and specialty products, as well as the industrial and construction product lines, by up to 7 percent.
John Overing, director of sales and marketing for Maxam, said this pricing action "is necessitated by the continued escalation in the cost of raw materials, as well as freight expenses that have impacted us in 2016 and will continue to be a factor in the business."
Pirelli/TP Commercial Solutions will raise prices in the U.S. and Canada on all Pirelli- and Formula-brand truck, bus, agro/farm and OTR tires by up to 8 percent, with in-line adjustments.
The company cited the continued escalation of raw materials, logistics and energy costs.
These latest announcements bring to 18 the number of tire makers and/or importers that have raised prices or announced price increases since early January.