Sunday, November 8, 2009

Apollo Tyres to soon raise product prices

With the prices of raw materials moving up, especially rubber, tyre manufacturer Apollo Tyres Ltd today said it will soon increase the prices of its products.

''In October, we had raised prices by about 2.5 per cent and we will be going for another price correction soon,'' company Vice Chairman and Managing Director Neeraj Kanwar told reporters here on the sidelines of the World Economic Forum, being organised by CII.

Rubber prices are moving up beyond Rs 120 per kg, ''which is unreasonable'', he said, adding that the company will pass on the rise in commodity prices to customers.
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