NASHVILLE, Tenn. (Sept. 19, 2005) — Bridgestone/Firestone North American Tire and Bridgestone/Firestone Canada Inc. have announced price increases of up to 8 percent, effective Nov. 1.
The increases apply to the tire makers' Bridgestone, Firestone, Dayton, associate and private brand tire lines in passenger and light truck, truck and bus, agricultural and off-the-road segments. The increases cover the replacement, original equipment and export sales channels.
“Our tire companies are facing dramatic increases in raw material costs,” said Duke Nishiyama, president of Bridgestone Americas Holding Inc. “The astronomical increases in petroleum prices are driving up the cost of synthetic rubber and carbon black. That, combined with rising natural gas costs and natural rubber prices, has given us no choice but to take this action.”