BSFS Announces NA Price Increase
Bridgestone/Firestone North American Tire, LLC (BFNT) and Bridgestone/Firestone Canada Inc. (BFCA) have jointly announced an “across the board” price increase of up to 5 per cent on the companies’ tyre products sold in the replacement and original equipment markets, including consumer, truck/bus, agricultural and off-the-road channels. This increase will be effective January 1, 2004, and affects Bridgestone, Firestone, Dayton, associate and private brand tyres.
According to Mark Emkes, chairman, CEO and president of BFNT, “we have been confronted with an unprecedented escalation of raw material costs. In order to address and attempt to minimise the impact of these rising costs we have taken very strong measures in all of our facilities to increase efficiencies and productivity levels. Unfortunately, since the dramatic cost increases can not be totally offset by these efforts, we are taking the action we have announced today.” Nashville-based Bridgestone/Firestone North American Tire, is a subsidiary of Bridgestone Americas Holding, whose parent company, Bridgestone Corporation, is the world’s largest tyre and rubber company. Bridgestone/Firestone Canada is a wholly owned subsidiary of Bridgestone Americas Holding.