Bridgestone to Hang Up F1 Tyre Supply Hat After 2010
Tyre supply to the FIA Formula One World Championship series is up for grabs as of 2011 following Bridgestone’s decision not to enter into a new supply contract when the current arrangement expires next year. Bridgestone Motorsport director Hiroshi Yasukawa expressed “deep regret” upon announcing the decision reached by the tyre major’s Board of Directors, a decision he notes was only reached after “considerable and lengthy evaluations.”
While we understand and respect the reasons for this decision, it has nevertheless come as a great disappointment,” stated Yasukawa. “Bridgestone’s relationship with the FIA Formula One World Championship stretches beyond being a tyre supplier. Formula One has been of strategic importance to Bridgestone in developing its technologies, raising the company’s brand awareness and providing its strategic business units around the globe with promotional and marketing tools that are intrinsically linked to our company’s core products.”
The board’s decision, Yasukawa continues, was based upon Bridgestone’s “need to redirect its resources towards the further intensive development of innovative technologies and strategic products.” A Bridgestone press statement explains that the ‘continuing evolution of the business environment’ also played a role and highlighted the priority of developing technologies and products that “support the company’s goals and further enhance the company’s reputation as a technology leader.”
Hiroshi Yasukawa referred to the awarding of the original tyre supply contract for the 2008 to 2010 seasons a “great honour”, and the motorsport director conveyed his thanks to the FIA for its continued support and for entrusting Bridgestone with “this privileged role which has seen us working at the heart of the Formula One community.
“Our sincere appreciation is also extended to Mr Bernie Ecclestone and Formula One Management, the Formula One teams with whom it has been an honour to have worked alongside, and the many Formula One fans who have followed our activities over the past 13 years,” Yasukawa continued. “I would also like to thank the staff of the Bridgestone Motorsport team for their professionalism, dedication and hard work, and for their passion for excellence. It remains only to reiterate that Bridgestone continues to be wholly committed to the provision of safe tyres of the highest quality to the FIA Formula One World Championship in 2010 and to the running of its tyre servicing operation at the highest level.”
Lessons learned on the racetrack have led to innovations applied in the manufacture of Bridgestone tyres, and the Japanese manufacturer recognises the increased brand awareness it has gained through the Formula One collaboration. Although conceding it has “benefited directly from its involvement in Formula One racing” over the years, the company shares that it is now “poised to take its technological and brand building efforts to the next level” following its severing of tyre supply ties with the high profile championship.
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