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 Conti to raise tire prices across Europe

HANOVER, Germany (Oct 12, 2010) - Continental AG will raise the list prices of summer tires in the European replacement market by an average of 5 percent, effective Jan. 1.

The company said the increase comes in response to the very high price level for natural rubber.

We are currently working on implementing this price increase right across Europe in order to offset at least some of the substantial increases experienced this year in the cost of raw materials,” a spokesman for Continental said.  "We opted for January 2011 as a date so that our customers can now focus their attention on the winter tire business which is so important for us all."