It will also increase prices an average of 14 percent on the Firestone Tracks portfolio. This price adjustment is a necessary step as Bridgestone continues to manage market dynamics, including escalated logistics, business, and raw material costs.
The new pricing will take effect June 1, 2021. Price adjustments will be implemented at the specific pattern and article level for each business. Specific details will be communicated by Bridgestone account managers directly to National Account customers, OEMs and dealers no later than May 18.
The validity of existing offers will remain as stated on the issued documents, the company says. New quotations issued from April 15 onward will be subject to the above listed price increases.
Putzmeister cites shortages for key raw materials and components, along with border restrictions during the Covid-19 pandemic and a significant shortage of ship cargo containers that has destabilized global supply chains and availability of materials.
"All these trends led to a significant increase of the costs base for Putzmeister as a machinery manufacturer," said Robert Bartholomew, Putzmeister president and CEO, listing double-digit percentage hikes in copper, rubber, and steel since September 2020.