Bridgestone/Firestone North American Tire LLC (BFNT) has joined the latest round of tire manufacturer price increases.
BFNT will raise prices up to 5% on its consumer, truck, bus, farm and OTR products on Jan. 1, 2004.
The increase affects Bridgestone, Firestone, Dayton, associate and private brand tires.
"We have been confronted with an unprecedented escalation of raw material costs," says BFNT Chairman, CEO and President Mark Emkes.
"In order to address and attempt to minimize the impact of these rising costs we have taken very strong measures in all 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."
Goodyear Tire & Rubber Co., Michelin North America Inc. and Continental Tire North America Inc. also have recently announced price hikes due to rising raw material costs.
