Nankang Tyre Prices up 10% not 5%

Nankang Rubber Tire representatives have confirmed that the recent price increase was five percentage point higher than first thought, making the increase 10 and not 5 per cent as was previously reported. The price rise covers all products in all global markets, effective from 1 March 2008. Company representatives told Tyres & Accessories the price hike is the result of the continuing increase of raw material, energy and freight costs.