NASHVILLE, Tenn. (July 13, 2006) - Bridgestone Firestone North American Tire, LLC (BFNT) today announced that it has made a final decision to close its Oklahoma City tire plant on or about December 31, 2006.  The decision to close the plant was approved by the Board of Directors of BFNT and the Board of Directors of its parent company, Bridgestone Americas Holding, Inc.

“This is a very difficult decision for everyone, especially since we’ve had such a great relationship with the Oklahoma City community for nearly 40 years,” said Steve Brooks, vice president of manufacturing operations for BFNT.  “But the reality is this plant produces tires in the low-end segment of the market where demand is shrinking and fierce competition from low-cost producing countries is increasing. Even with substantial new investment, global market forces make it virtually impossible to restore the plant to a competitive position and stem the huge losses,” Brooks continued.

Teammates in Oklahoma City were told of the potential plant closure in April.  Following that announcement, BFNT and the United Steel, Paper and Forestry, Rubber, Manufacturing, Energy, Allied Industrial and Service Workers International Union ("USW") met to discuss alternatives to closure of the plant.  Unfortunately, during those discussions neither the company nor the union could devise a viable solution to the problem that confronts the Oklahoma City tire plant: namely that the plant is not competitive in the global marketplace and is suffering substantial ongoing losses.  The terms of the closure will be negotiated with the USW and follow-up meetings with plant management are now being held to discuss next steps in the process.  BFNT will work with the union as well as local and state officials to help address the impact on the Oklahoma City teammates, their families and the community.  The plant will continue producing tires for several more months but is expected to ramp-down production and cease operations by the end of the year.

“This decision was made only after serious consideration of our alternatives.  We met with the union but we were unable to come up with a solution to make the plant globally competitive.  In addition, the market is quickly running away from the products we produce in Oklahoma City,” Brooks said.  “It’s unfortunate because our teammates have worked hard and the government leaders in Oklahoma have been extremely supportive,” Brooks concluded.

The Oklahoma City plant began operations in 1969 and produces radial passenger and light truck tires. The facility employs about 1,400 active teammates.