Bridgestone Firestone Raises Prices

April 30, 2008

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Bridgestone Firestone North American Tire and Bridgestone Firestone Canada announced price increases on Bridgestone and Firestone brand tire lines, as well as all associate brand tires.

The 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.

"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. "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."

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