BFNT Raises Prices – Raw Material Costs to Blame

Bridgestone Firestone North American Tire (BFNT) has announced price increases on the company’s Bridgestone, Firestone, Fuzion and associate brand tyre ranges. The announced increases are generally up to 5 per cent on passenger and light truck, truck and bus, and agricultural and OTR tyres, although the company has not ruled out increased above 5 per cent for specific lines. The increases will affect replacement, OE and export tyres and will become effective as of May 1, 2007.

BFNT believe circumstances leave them with no option other than to implement these increases. “The continuing upward spiral of raw material costs makes this action necessary,” said Asahiko “Duke” Nishiyama, Vice Chairman and President of BFNT. “This unprecedented situation is simply not one that can be managed through the enhanced efficiencies and increased productivity that we are continually implementing at all levels of our company. As a result, we have no choice but to implement this price increase.”