October 11, 2008

Solideal to introduce steel surcharge

Solideal has announced that it is to introduce a steel charge on all wheels and assemblies with effect from May 15th 2008.

According to an official statement on the matter, the action is strictly due to the hyper inflation in steel prices. The surcharge will be evaluated monthly and will begin at the rate of USD 0.49 per kilogram.

Mr Cesar Clemente CEO of Solideal said that "As commodity prices are increasing so dramatically, we have absolutely no choice but to make this move." He added that it is also planning to announce a general price increase on tyres and wheels in June 2008.