Bridgestone Firestone Announces Price Increases
NASHVILLE, Tenn. (April 25, 2008) – Bridgestone Firestone North American Tire, LLC (BFNT) and Bridgestone Firestone Canada Inc. have announced price increases on the companies’ Bridgestone and Firestone brand tire lines, as well as all associate brand tires. The announced increases, up to 10 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 begin June 1, 2008.
“The continuing record-breaking upward spiral of fuel, energy and raw material costs affects every aspect of our business – from manufacturing to distribution – and makes this action necessary,” said Asahiko “Duke” Nishiyama, Vice Chairman and President of Bridgestone Americas Holding, Inc., parent company of BFNT and BFCA. “Although we are continually working to enhance efficiencies and increase productivity in all areas of our business, these efforts can not fully mitigate this unprecedented escalation of costs. As a result, we have no choice but to implement this price increase.”
About Bridgestone Firestone North American Tire, LLC:
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 and associate 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. In addition, through its Bridgestone Bandag Tire Solutions unit, retreading customers have access to industry-leading research and development, manufacturing, marketing and sales expertise, providing them with a total tire solution.
About Bridgestone Firestone Canada Inc.:
Bridgestone Firestone Canada Inc. is a subsidiary of Nashville-based Bridgestone Americas Holding, Inc. BFCA manufactures and markets a broad array of Bridgestone and Firestone brand tires and markets associate brand products through a coast-to-coast network of dealers, company-owned stores and distributors.