Bridgestone/Firestone cites raw material crunch for price hikes
NASHVILLE, Tenn. (Dec. 2, 2004) — Bridgestone Firestone North American Tire, and Bridgestone/Firestone Canada Inc. have jointly announced price increases of up to 7 per cent on truck and bus tires, and 10 per cent or more on agricultural and off-the-road tires.
Prices will rise up to about 5 per cent on passenger and light truck tires. The increases will affect Bridgestone, Firestone, Dayton, associate and private brand tires and will be effective January 1, 2005.
“Our tire companies are facing an unprecedented continuation of rising raw material prices on a number of different fronts,” said Mark Emkes, CEO and chairman of Bridgestone Americas Holding Inc., “From steel to petroleum to rubber chemicals, we have seen cost increases that simply can not be offset by the increases in efficiencies and productivity that we have implemented at all levels of our company. The action we announced today is a necessary step in addressing these escalating costs.”
— from Truckinginfo.com
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