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Horizon- Addis Tyre announced that it has reduced its prices in all categories of its tyre products. The decision to reduce the price comes due to the decreasing prices of fuel globally which has also led to price reduction in raw materials internationally. The company stated that all purchases starting, January 3, 2015 will carry the reduced price tag. “We believe that our reduced price list initiation will trigger other manufacturers in Ethiopia to think about the possibilities of reducing their prices as well, ‘’ said Akalewold Admassu Operation Manager of the company at a press conference held on January 2 at the Sheraton Hotel. Horizon Addis Tyre S.C was established in 1973 and it currently produces 120,000 tyres annually.