Franklin, TN – March 27, 2018 – The Carlstar Group announced today a price increase of up to 18% on all steel and aluminum wheels and steel components effective April 9, 2018. In addition to the escalating material costs from 2017, the Carlstar Group cited further increasing costs of domestic steel as a result of the Presidential Proclamation on adjusting imports of steel into the United States that was issued on March 8, 2018. The proclamation will impose a 25% tariff on steel articles and 10% on aluminum articles effective March 23, 2018. “The significant volatility we experienced in the prices of steel and aluminum materials since January 2017 due to supply constraints is now being compounded by the recent announcements on steel tariffs,” said John Salvatore, CEO at The Carlstar Group. “This price increase is to recover from material increases we have experienced during these unprecedented market conditions.” The Carlstar Group will continue to closely monitor the changing material dynamics and market conditions.
About The Carlstar Group
The Carlstar Group is headquartered in Franklin, Tennessee and is a global manufacturer of original equipment and aftermarket specialty tires and wheels for the agriculture, construction, outdoor power equipment, powersports, high speed trailer and flat free/manual markets. The diverse portfolio of solutions are offered under several leading brands including Carlisle® tires and wheels, ITP® tires and wheels, as well as Cragar®, Black Rock® and Unique® wheels and Marastar® flat free and manual tires. The Carlstar Group employs over 3000 associates in 14 facilities located in four countries. The Carlstar Group has created a legacy of excellence in product innovation, quality, and customer service. For more about The Carlstar Group, visit www.carlstargroup.com .