Bridgestone/Firestone announces price increases
Bridgestone Firestone North American Tire LLC (BFNT) and Bridgestone/Firestone Canada Inc. are raising prices on their Bridgestone, Firestone, Dayton, associate and private brand tire lines.
Passenger, light truck, truck, bus, farm and OTR tire prices will increase up to 8%, all channels included.
The truck and bus tire increases will take place on May 1, while increases for all other lines will occur on June 1.
"Our tire companies continue to face unprecedented escalating raw material costs, especially for commodities such as petroleum, steel, rubber chemicals, polymers and utilities," says Mark Emkes, chairman and CEO of Bridgestone Americas Holding Inc., parent company of BFNT and Bridgestone/Firestone Canada.
"Unfortunately, these cost increases simply can not be off-set by the enhanced efficiencies and increased productivity that we have implemented at all levels of our company.
"The action we announced today is a necessary step in addressing these extraordinary cost increases."