03/25/2011

• Natural rubber price increased fourfold in two years
• Enormous cost pressure for manufacturer

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Hannover, March 2011. Due to the dramatic rise in raw material costs Continental will again have to increase its prices for industrial and OTR (off-the-road) material handling tires by an average of ten percent effective on all deliveries April 1^st. Background to this is the rapidly developing price of natural rubber that has risen fourfold to a record high of over US$5.60 in the period January 2009 to February 2011. “Due to strong increases in the price of natural rubber over the past months we will again have to increase prices for our tires,” said Dr. Michael Maertens, managing director worldwide of Continental’s industrial business unit. 

The price increase will be effective on all of Continental’s industrial tire products and brands which include solid, pneumatic and OTR material handling tires.

Dr. Maertens also pointed out: “Current price increases are only partially compensating the immense cost pressure caused by natural rubber. If the rubber price continues to remain at such high levels we cannot rule out further increases during the year.”