Veyance Boosts Prices, Blames Energy Costs
- Published: Sunday, 01 June 2008 08:00
To help offset rapidly escalating raw material, energy and freight costs, Veyance Technologies, the manufacturer and marketer of Goodyear Engineered Products, is boosting the prices of its industrial products, effective July 1. In letters sent to its North American and export distributors, Veyance outlined 6 to 9.5% price increases for its industrial hose, hydraulics, power transmission belts, conveyor belts and rubber track, as well as metal fittings and sprockets. It also informed transportation aftermarket customers of 5 to 7% increases for its belts, hose, tensioners and air springs. The company blames persistent increases in oil- and energy-related raw material, with the price of oil doubling from last year.