Bridgestone Firestone North American Tyre (BFNT) Raise Prices Due to Increased Cost of Raw Materials

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Bridgestone Firestone North American Tire (BFNT) has announced price increases on the company’s Bridgestone, Firestone, Fuzion and associate brand tyre ranges. The company announced that increases of up to 5 per cent will affect passenger and light truck, truck and bus, and agricultural and Off The Road (OTR) tyres. However, Bridgestone Firestone North American Tire also emphasised that specific lines will be affected by an inflated percentage figure, above the proposed 5 per cent. The increases will affect replacement, OE and export tyres and will become effective as of May 1, 2007.

Bridgestone Firestone North American Tire is based in Nashville and is a subsidiary of Bridgestone Americas Holding, Inc., whose parent company is Bridgestone Corporation. Bridgestone Corp. is the world’s largest tyre and rubber company. As a branch of the Bridgestone Corporation, BFNT is responsible for developing, manufacturing and marketing Bridgestone, Firestone, Dayton and associate brand tyres. The company supplies a range of tyres to its customers in North America, including: passenger, light truck, commercial vehicle, motorcycle, off road and agricultural tyres. BFNT is focused on original and wholesale equipment markets.

BFNT believe that circumstances have left them with no other option than to implement these increases. Asahiko “Duke” Nishiyama, Vice Chairman and President of BFNT stated that, “The continuing upward spiral of raw material costs makes this action necessary.” Mr Nishiyama referred to the circumstances surrounding the company’s decision as an “unprecedented situation”. He added that despite the “enhanced efficiencies and increased productivity” that BFNT is “continually implementing at all levels”, the company has “no choice but to implement this price increase.” The increased price will affect American-brand Firestone consumers in the UK, from May 1, 2007.

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