27 Mar 2006
Nashville, Tennessee - Due to continued cost escalations, Bridgestone Firestone North American Tire LLC and Bridgestone Firestone Canada Inc. have jointly announced price increases on the tyre makers´ Bridgestone, Firestone, Dayton, associate and private brand tyre lines, effective May 1.
The price hikes - up to 5 percent on passenger and light truck, truck and bus, and agricultural and off-the-road tyres - will affect the replacement, original equipment and export channels, the Nashville-based company said.
"Our tyre companies continue to face unprecedented increases in raw material costs, especially in natural rubber, carbon black and fabrics such as polyester and nylon," said Asahiko "Duke" Nishiyama, president of Bridgestone Americas Holding Inc., parent company of the US and Canadian tyre units.
"This situation has given us no choice but to take this action. Unfortunately, the impact of these rising costs simply can not be offset by the enhanced efficiencies and increased productivity that we continue to implement at all levels of our companies."
From Rubber & Plastics News (A Crain publication)
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