(AMM) US steel supplier to Honda raises prices: chief exec

PITTSBURGH 02 June 2008 21:33

Japan's Honda Motor Co. Ltd. has been asked to pay more for steel by at least one of its U.S. suppliers, and the automaker's chief executive expects more such requests of his company-and his competitors-in the near future.

Takeo Fukui, Honda's president and chief executive officer, told a press conference that one steel supplier, which he would not identify, had asked for a higher price than what is set in its supply contract, according to published reports out of Tokyo. "It came all of a sudden, ignoring the contract," Reuters quoted Fukui as saying.

It was not the first time such a request had been made, but this time the implications may be more significant. When...

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(AMM) US steel supplier to Honda raises prices: chief exec

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