Bridgestone raises prices up to 10% on tire exports
Bridgestone Corp. announced it is raising the prices on Bridgestone and Firestone-brand tires exported from Japan to Asia, the Middle East and Africa and the Commonwealth of Independent States.
The price increases will range from 5% to 10% on passenger, light truck and truck tires, and up to 10% and more on construction and mining tires. They will vary by product and by market, and Bridgestone will implement them in stages, starting on Jan. 1, 2005.
According to the company, the increases are necessary to compensate for the rising cost of petrochemical materials, such as synthetic rubber and carbon black, and other raw materials, such as steel cord.
On Nov. 29, Bridgestone subsidiaries Bridgestone Firestone North American Tire LLC and Bridgestone/Firestone Canada Inc. announced price increases of up 5% on consumer tires, up to 7% on truck tires and up to 10% or more on farm and OTR tires. They will take effect on Jan. 1.