Bridgestone Firestone announces price increases
Bridgestone Firestone North American Tire LLC (BFNT) and Bridgestone/Firestone Canada Inc. have announced price increases.
The hikes are as follows:
* up to 5% on passenger and light truck tires;
* up to 7% on truck and bus tires;
* up to 10% or more on farm and OTR tires.
The increases take place Jan. 1, 2005, and affect Bridgestone, Firestone and Dayton lines, plus Bridgestone/Firestone private and associate brand products.
"Our tire companies are facing an unprecedented continuation of rising raw material prices on a number of different fronts," says Bridgestone Americas Holding Inc. Chairman and CEO Mark Emkes.
"From steel and petroleum to rubber chemicals, we have seen cost increases that simply cannot be off-set by the increases in efficiencies and productivity that we have implemented at all levels of our company. The action we announced today is a necessary step in addressing these escalating costs."