Bridgestone raises rubber prices
Today's Trucking: The Online Business Resource for Canada's Trucking IndustryBridgestone Firestone North American Tire LLC (BFNT) and Bridgestone Firestone Canada Inc. have announced price increases on the companies' Bridgestone, Firestone, Fuzion and associate brand tire lines.
The announced increases -- generally up to 4 percent on passenger and light truck, truck and bus, and agricultural and off-the-road tires, with possible specific in-line adjustments in excess of 4 percent -- will affect the replacement, original equipment and export channels. The price increases are scheduled to begin phasing in Nov. 1, 2007.
"While we have successfully implemented a number of manufacturing efficiencies and productivity enhancements, the unprecedented on-going escalation in raw material costs -- especially those related to petroleum -- continue to strain our ability to offset these increases with countermeasures," said Asahiko Nishiyama, vice chairman and president of Bridgestone Americas Holding Inc. "The record-breaking price of oil affects every aspect of our business, from the manufacture of our products through their delivery to our customers. As a result, we have no choice but to implement this price increase."