Wabash National (WNC) Announces Trailer Product Price Increases
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Wabash National Corporation (NYSE: WNC) announced that prices of its trailer products will increase an average of 5% effective for new orders booked on or after Oct. 1, 2008, with an additional increase ranging from 3-5% effective Jan. 1, 2009.
Dick Giromini, President and Chief Executive Officer, stated, "The costs of raw materials and purchased components have been rising at unprecedented rates for the past few years and have continued throughout 2008. Steel costs have more than doubled this year alone, and aluminum is now projected to increase another 45% by year end. While we have historically adjusted our pricing models as material costs have climbed over time, we felt that with such significant adjustments we owe it to our customers to provide them as much advanced notice as possible. As always, we continue to aggressively seek ways to contain costs and provide the best value to our customers."
Wabash National Corporation (Wabash) designs, manufactures and markets standard and customized truck trailers and related transportation equipment. [SM]
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