100 Years Of Firestone

Harvey Firestone established his sales company for tyres and technical rubber products in the summer of 1900 and began production of tyres in Akron, Ohio, three years later. Thanks to a big order from Ford for the famous model T, the company was immediately successful and grew rapidly. In the twenties, Firestone was, for some years, the biggest tyre manufacturer in the world.

Due to a badly-managed recall in the late seventies, the company ran into extreme difficulties; it tried to avoid the recall, but eventually its hand was forced, severely damaging the company’s reputation as a result. After this episode, the Firestone management was forced to sell assets every year to plug the biggest holes in the balance sheet. John Nevin was appointed CEO, but despite his extremely strict guidance, which was focused purely on shareholders, he did not manage to turn the company around.

In 1988 Bridgestone acquired Firestone, turning the Japanese company into a true global player overnight. This was Firestone’s only realistic hope for survival. Today, Firestone is once again a world-famous and accepted tyre brand, very successful in the US and also in Europe.

The revitalisation of the brand was made possible through its involvement in motorsports, especially the Indy series in the US. In May, the famous Indianapolis 500 race was won by a car fitted with Firestone tyres – this was the 51st such victory for Firestone in the history of the Indy 500. Full details can be found in the June edition of NEUE REIFENZEITUNG.