Bridgestone North America Raises Prices

(Akron/Tire Review) Bridgestone Firestone North American Tire (BFNAT) announced that it was raising prices on its Bridgestone, Firestone, Dayton, associate and private brand tire lines by up to 8%.

The increase – covering the U.S. and Canada – is for replacement, OE and export market passenger and light truck/SUV, medium truck and bus, agricultural and OTR tires, BFNAT said. The increase for medium truck and bus tires kicks in May 1, while the increase for all other lines takes effect June 1.

“We continue to face unprecedented escalating raw material costs, especially for commodities such as petroleum, steel, rubber chemicals, polymers and utilities,” said Mark Emkes, chairman and CEO of Bridgestone Americas Holding. “Unfortunately, these cost increases simply can not be offset by the enhanced efficiencies and increased productivity that we have implemented at all levels of our company. The action is a necessary step in addressing these extraordinary cost increases.”