Bridgestone/Firestone announces price increases

Sept. 16, 2005

Bridgestone Firestone North American Tire LLC (BFNT) and Bridgestone Firestone Canada Inc. will raise prices on Bridgestone, Firestone, Dayton, associate and private brand tire lines, effective Nov. 1.

Prices on replacement, original equipment and exported passenger, light truck, truck, bus, farm and OTR tires will be increased up to 8%.

Bridgestone Americas Holding Inc. President Duke Nishiyama says Bridgestone/Firestone is facing "dramatic increases in raw material costs. The astronomical increases in petroleum prices are driving up the cost of synthetic rubber and carbon black.

"That, combined with rising natural gas costs and natural rubber prices, has given us no choice but to take this action. Unfortunately, these dramatic raw material cost increases simply cannot be offset by the enhanced efficiencies and increased productivity we have implemented at all levels of our company."