NASHVILLE, Tenn. (March 24, 2006) — Due to continued cost escalations, Bridgestone Firestone North American Tire L.L.C. (BFNT) and Bridgestone Firestone Canada Inc. (BFCA) will raise prices May 1 on their Bridgestone, Firestone, Dayton, associate and private brand tire lines.
The price hikes—up to 5 percent on passenger and light truck, truck and bus, and agricultural and off-the-road tires—will affect the replacement, original equipment and export channels, the Nashville-based company said.
“Our tire companies continue to face unprecedented increases in raw material costs, especially in natural rubber, carbon black and fabrics such as polyester and nylon,” said to Asahiko “Duke” Nishiyama, president of Bridgestone Americas Holding Inc., parent company of BFNT and BFCA. “This situation has given us no choice but to take this action. Unfortunately, the impact of these rising costs simply can not be offset by the enhanced efficiencies and increased productivity that we continue to implement at all levels of our companies.”