Bridgestone raises rubber prices

NASHVILLE, Tenn. — Bridgestone 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.”