Commodity prices put squeeze on businesses

Rising commodity prices are squeezing profits and putting manufacturers and suppliers at each others’ throats. Ultimately, consumers may have to pay more as the costs are passed along.

An indication of how soaring steel prices are roiling the auto industry was illustrated in a lawsuit Johnson Controls Inc. of Milwaukee filed in a Michigan federal court this week against Glenview-based Illinois Tool Works Inc.

Illinois Tool Works threatened to halt shipments of screws and other fasteners unless it received a price increase from Johnson Controls, which supplies seats and other interior components to General Motors Corp. and other automakers. Johnson Controls sued to enforce its contract.

ChicagoTribune