New Delhi, June 5: Carrier India, a subsidiary of US-based Carrier Corporation, said it will increase prices of its range of residential, light commercial and commercial air-conditioning products by three to five per cent due to rising input costs.
''In the last 12 months, commodity costs have increased significantly, led by copper (up 53 per cent from February 2007) and steel (up 34 per cent from February 2007), as well as petroleum-based plastics,'' Carrier India Managing Director Zubin Irani said in a statement. ''We have been able to offset some but not all of the increases through improved productivity,'' he added. The last time the company announced a price increase was in November 2006.
Carrier Corporation is the world's largest provider of heating, air-conditioning and refrigeration solutions with 2007 revenues stood at 14.6 billion dollars.