Bridgestone Announces Cross-Segment European Price Increase

Bridgestone has announced that it will raise the prices by between 3 and 6 per cent of its consumer, commercial and speciality tyres in Europe during October 2010. Bridgestone Europe CEO and president Makio Ohashi said that “historically high” raw materials prices had necessitated the hike, while “further increases will be necessary in the coming year”.

Ohashi also commented that the company’s European factories were “operating…at full production and the production expansion of new East European plants is in progress as planned. In order to continue fulfilling our commitment to European market, we have to make this sensible decision to increase prices and maintain a sound and solid business foundation.”