Escalating Raw Material Cost Prompts Further Bridgestone Price Adjustment
During the first quarter of 2011, Bridgestone will implement price increases on all consumer, commercial, retreaded and specialty tyres sold in Europe. Prices will rise by an average of six per cent, however this will vary between markets and product categories.
Commenting on the announcement, Bridgestone Europe CEO and president Makio Ohashi stated “the cost of raw materials, especially natural rubber, has reached a much higher level than it was four months ago when we announced the last price increase. As I indicated at that time, a further price increase has become necessary to try and recover some of those costs. Our factories continue to operate at maximum capacity with improvements in productivity, flexibility, and efficiency to cope with the challenges including the high cost of raw materials and increased demand for our quality products. However, we have not seen an end to the escalation of raw materials prices.”