Bridgestone/Firestone North American Tire (BFNT) and Bridgestone/Firestone Canada Inc. have jointly announced "across the board" price increases of up to 5%
on the companies’ tire products sold in the replacement and original equipment markets in all channels.
Price increases for some sizes of off-the-road tires will increase by up to 8%.
The increases will be effective June 1, 2004, and will affect Bridgestone, Firestone, Dayton, associate and private brand tires.
According to Yuji Tomiyasu, president of BFNT, "We continue to be faced with a continuing escalation of raw material costs. While we have taken many affirmative steps in our plants and in our processes to address and attempt to minimize the impact of these rising costs, we have been unable to offset them entirely, even with our increases in efficiencies and productivity."
Nashville-based Bridgestone/Firestone North American Tire, LLC is a subsidiary of Bridgestone Americas Holding Inc., whose parent company, Bridgestone Corp., is among the world’s largest tire and rubber companies.