Bridgestone Firestone Announces U.S., Canada Price Increases
NASHVILLE, Tenn. (April 1, 2005) – Bridgestone Firestone North American Tire, LLC (BFNT) and Bridgestone/Firestone Canada Inc. (BFCA) have jointly announced price increases on the companies' Bridgestone, Firestone, Dayton, associate and private brand tire lines. The announced increases, up to 8 percent on passenger and light truck, truck and bus, and agricultural and off-the-road tires, will affect the replacement, original equipment and export channels. The price increases are scheduled to take effect May 1 for truck and bus tires and June 1 for all other tire lines and channels.
According to Mark Emkes, CEO and chairman of Bridgestone Americas Holding, Inc., parent company of BFNT and BFCA, "Our tire companies continue to face unprecedented escalating raw material costs, especially for commodities such as petroleum, steel, rubber chemicals, polymers and utilities. Unfortunately, these cost increases simply can not be offset by the enhanced efficiencies and increased productivity that we have implemented at all levels of our company. The action we announced today is a necessary step in addressing these extraordinary cost increases."
Nashville-based Bridgestone Firestone North American Tire, LLC is a subsidiary of Bridgestone Americas Holding, Inc., whose parent company, Bridgestone Corporation, is the world's largest tire and rubber company. BFNT develops, manufactures and markets Bridgestone, Firestone, Dayton and associate and private brand tires. The company is focused on wholesale and original equipment markets, supplying passenger, light truck, commercial vehicle, off-road, motorcycle, agricultural and other tires to its customers in North America.
Bridgestone/Firestone Canada Inc. is a wholly owned subsidiary of Nashville-based Bridgestone Americas Holding, Inc. BFCA manufactures and markets a broad array of Bridgestone and Firestone brand tires and markets Dayton brand products through a coast-to-coast network of dealers, company-owned stores and distributors.