Due to the addition of new technology and raw material costs, Camso customers will experience a global price increase for products distributed through its aftermarket business.
Price increases will range from 1 to 6 percent depending on the product line and region.
In 2017, the company introduced improvements in solid and pneumatic tires, tracks and track systems across its construction, material handling and agriculture business lines. According to Camso, this is the cause for the price increase.
“We’re very proud of the new products we’ve brought to market. However, we’ve seen significant increases in the cost of raw materials, logistics, and other operating costs required to manufacture and distribute our products over the past year,” says Derek Bradeen, executive director of brand, communications and global marketing at Camso. “We’ve done our best to avoid a price increase with our aftermarket customers, but are now required to take action on this at the present time.”
The timing of the increase will be based on market dynamics in North America, Europe, the Middle East and Asia-Pacific.