By Denna Bowman
Bridgestone Europe is set to increase the price of its consumer, commercial and specialty tyres, starting from October 2010.
Prices will rise by three to six per cent depending on the market and product category, according to the Japanese tyres manufacturer.
Makio Ohashi, CEO and President of Bridgestone Europe, said: “The increase in the cost in raw materials has continued and reached a historically high level. We have to recover some of those costs by this price increase and most probably further increases will be necessary in the coming year.”
He continued: “Having encouraging signs of demand recovery trend in many tyre segments, we have already been operating all of our European tyre plants at full production and the production expansion of new East European plants is in progress as planned.
“In order to continue fulfilling our commitment to European market, we have to make this sensible decision to increase prices and maintain a sound and solid business foundation.”