Horn freezes prices as pound slides

Horn Cutting Tools is pledging to maintain 2008 prices on its wide range of grooving tools into 2009. Notwithstanding the fact that over the 12 months to mid-November 2008 the Euro rose from around £0.70p to nearly £0.85, a 21 per cent increase, the Horn price list will be fixed at 2007/8 levels. Mike Green, general manager of Horn Cutting Tools, comments: “As a business we have to take a responsible attitude. We have spent 12 years building our customer base in the UK. By absorbing some of the costs associated with what we hope will be a short recession we are aiming to help our customers in the most effective way that we can.” Horn’s stance is aided by the economies of scale provided by recent completion of a multi-million Euro investment program at the Paul Horn GmbH factory in Tübingen, near Stuttgart. This has provided major efficiency improvements that will bolster the company’s competitiveness going forward. Mr Green concluded: “Horn believes absolutely in investing in the future and is highly committed to the UK. Not adding to our customers’ woes during a period when trading conditions are difficult is in line with that philosophy.”