Indianapolis, Ind. (Oct. 12, 2005) - Hurricanes Katrina and Rita hit the Louisiana coast very hard several weeks apart. The effects of these disasters were tragic on the residents of the affected areas as well as on the businesses located there. One impact of the storms is that the petroleum-chemical businesses of this region have been severely damaged, and many have not had power or raw materials for weeks. Since these plants have not been operational for some time, many other industries are now experiencing shortages of many key materials that are typically manufactured in the impacted region. These materials are needed to manufacture many products, including Firestone air springs. Some of our key suppliers have recently advised us, that due to “force majeure” circumstances, they are suspending deliveries of necessary raw materials to us.
As a result of this act of God and/or natural disaster, and the declaration of force majeure circumstances by our key suppliers, Firestone Industrial Products is declaring force majeure for all customers effective immediately. It is our expectation that deliveries of our products will begin to be affected within the next 15-20 business days, and that it may be at least several weeks before we see our shipments return to normal levels. Certain products will be affected more than others due to a heavier reliance on the specific raw materials that are in short supply. Firestone will undertake a fair and reasonable allocation to its customers of its available inventory and of new product once manufactured.
Firestone Industrial Products Company, a business unit of BFS Diversified Products, LLC, specializes in air spring manufacturing and technology with a history of more than 60 years of research and development of technologically advanced air springs.
About BFS Diversified Products, LLC:
BFS Diversified Products, LLC, based in Carmel, Ind., is a subsidiary of Bridgestone Americas Holding, Inc. (BSAH). BFDP is responsible for BSAH's non-tire businesses including building and industrial products, synthetic and natural rubber, and fiber and textile businesses.
About Bridgestone Americas Holding, Inc.:
Nashville-based Bridgestone Americas Holding, Inc. (BSAH) is the subsidiary of the Bridgestone Corporation, the world’s largest tire and rubber company. BSAH and its subsidiaries develop, manufacture and market a wide range of Bridgestone, Firestone, Dayton and associate and private brand tires to address the needs of a broad range of customers, including consumers, automotive and commercial vehicle original equipment manufacturers and those in the agricultural, forestry and mining industries. The companies also produce air springs, roofing materials, synthetic rubber and industrial fibers and textiles and operate the world’s largest chain of automotive tire and service centers.