[2008/05/07] Federal&Hero Tyres Announce The Second Price Increase
Federal&Hero brands have implemented a further price adjustment prior to August 2008. The last price hike that has barely been announced can only offset the increase of cost in 2007Q4. We are more forced to adopt up to 10% for our product of Taiwan origin and 16% for our Chinese made products. Cost hike of raw materials and energy is the deciding factor behind the price rises. In addition, the higher rate of increase for products from China results from the overproportionally rising labor cost.