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Based in Japan, Bridgestone Corporation is the world’s largest tyre and rubber company.

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Bridgestone Confirms F1 Tyre Choices

Following three days of testing at Belgium’s recently reconfigured Spa-Francorchamps circuit Bridgestone has deemed the time right to reveal the tyre compounds to be used by competitors for the final races of the 2007 season.

“Last week’s (July 10-12) test at Spa provided the final pieces of information we needed before we could confirm our choices of Bridgestone Potenza compound for the remainder of the season,” said Kees van de Grint, Bridgestone Motorsport head of Track Engineering Operations.

The usual soft and medium compounds will be put into play at the Italian, Belgian and Japanese Grands Prix, while the race in Shanghai will see the use of medium and hard compound tyres. At the season finale in Brazil Bridgestone has opted to make use of the soft and super soft tyres.

23rd July 2007/by Tyrepress Editors

Sumitomo Expects Much From China

For Sumitomo Rubber Industries Ltd. –Japan’s second largest tyre manufacturer after Bridgestone – the Chinese tyre market is a market of overwhelming potential. Although the company currently only generates an annual turnover of US$112 million in China out of a market worth $4.59 billion – a share of only 2.5 per cent, China is the market possessing by far the greatest growth rates for the Kobe based manufacturer. Compared with 2005 figures, Sumitomo’s Chinese turnover has doubled. And Sumitomo’s president Tetsuji Mino doesn’t expect less for 2007; an annual turnover of $220 million is the minimum Sumitomo plans to generate this year on the Chinese tyre market. “The growth potential of Asian tyre markets is just enormous,“ Mino stated in an interview.

23rd July 2007/by Tyrepress Editors

F1 Gives Indianapolis the Red Flag

The famous Indianapolis Motor Speedway will not resound to the screeching of Bridgestone Formula One tyres in 2008 following the decision to scrap the event after eight lukewarm years. Bernie Ecclestone’s verdict on the race was announced on July 12, a decision that the speedway’s CEO hopes will be a temporary one.

“It’s my sincere hope that we’ll have the opportunity to bring it back in the not-too-distant future,” said speedway CEO Tony George. “Eight years ago, it was our intent to host this event on an annual basis. While I still hold hope for the future that we’ll be able to bring it back, its tough to have a hiatus like this, and I view it as such. I’m going to continue to work on this to try to bring it back to the best of my ability as soon as possible.”

The US Grand Prix on average attracted around 125,000 spectators, which while respectable in terms of F1 attendance was smaller than any other event held at the speedway. In comparison, attendance at the Indianapolis 500 has been estimated at around 300,000 people. George believes the US Grand Prix could have drawn larger crowds had it been given the opportunity to better establish itself through sponsorship and the media.

13th July 2007/by Tyrepress Editors

Bridgestone European Technical Centre to produce GP2 Tyres

Bridgestone Corporation, sole tyre supplier for both Formula 1 and the GP2 Series, has decided to base GP2 Series tyre production and quality control at its Technical Centre Europe (TCE), on the edge of Rome. The output will be warehoused in the UK, at the Bridgestone Motorsport facility in Langley.

Until now, all GP2 race tyre development and production has been centred in Tokyo. Although, for the time being, design and development will continue to be carried out in Japan, the rationale for the new arrangement is twofold. Firstly, the addition of a second manufacturing site provides a safeguard against the risk of supply bottlenecks in this highly demanding environment. Secondly, GP2 race tyres supplied from Europe for European races will incur lower transport mileage costs and will have a lower environmental impact.

13th July 2007/by Tyrepress Editors

Liberian BFS Workers Elect New Union Leaders

Workers in Liberia have elected union leadership to represent them in contract talks with Bridgestone/Firestone, the first time that workers themselves have elected their representatives. The election was monitored by representatives from the US unions United Steelworkers Union and American Federation of Labor and Congress of Industrial Organizations at the invitation of a government created elections commission.

The BFS plantation in Liberia has been the scene of a number of strikes in recent times and has received unfavourable reports from Western human rights organisations. The elections were thus seen by many as a positive step. In the words of the USW, “all eight elected union positions were won by militant activists who had participated in training by the USW and had led wildcat strikes over the past two years.”

12th July 2007/by Tyrepress Editors

Bridgestone European Technical Centre to produce GP2 Tyres

Bridgestone Corporation, sole tyre supplier for both Formula 1 and the GP2 Series, has decided to base GP2 Series tyre production and quality control at its Technical Centre Europe (TCE), on the edge of Rome. The output will be warehoused in the UK, at the Bridgestone Motorsport facility in Langley.

Until now, all GP2 race tyre development and production has been centred in Tokyo. Although, for the time being, design and development will continue to be carried out in Japan, the rationale for the new arrangement is twofold. Firstly, the addition of a second manufacturing site provides a safeguard against the risk of supply bottlenecks in this highly demanding environment. Secondly, GP2 race tyres supplied from Europe for European races will incur lower transport mileage costs and will have a lower environmental impact.

12th July 2007/by Tyrepress Editors

National Tyres ‘For Sale’

National Tyres, the UK’s second largest independent fast-fit chain, is on the market with an estimated £75-£100 million price tag, according to The Telegraph. The firm, which recently reported a 19 per cent year-on-year increase in first-half sales, is said to be in talks with “a number of parties” about a possible takeover having hired PricewaterhouseCoopers to advise on a strategic review.

While the news that the successful retail business might be the target of a takeover is not a complete surprise, some of the parties supposedly linked to the deal weren’t as expected. Telegraph reporter Ben Harrington named Nationwide Autos, Micheldever Tyres and Kwik-Fit as key suitors. Nationwide Autos, which provides drivers with mechanical repair, servicing and MOT tests, and its private equity owners, Phoenix Equity Partners, have already made an approach to buy the company, according to Harrington.

11th July 2007/by Tyrepress Editors

‘Source’ Reports Bridgestone India Expansion Plans

According to news published by leading Indian business daily Business Standard, Bridgestone India intends to invest Rs 2.63 billion (£32.3 million) expanding capacity at its facility in the central state of Madhya Pradesh. This expansion will reportedly include capacity for a new radial range. This would be the fully-owned subsidiary’s first major expansion since 1998, and Business Standard claims to have viewed documents indicating the company plans to increase existing capacity by between 4,000 and 6,500 tyres per day. 271 jobs will reportedly result from this expansion.

“The company has said that it has planned to complete the expansion by December 2008 to add another 1.5 lakh nos [150,000] of tyres for all vehicles per annum,” printed the Business Standard, reportedly quoting a government source. However the previously mentioned documents indicate a capacity increase of ten times this amount.

10th July 2007/by Tyrepress Editors

Formula 1 and Bridgestone Head to Silverstone

Formula One is coming to Silverstone on the weekend of 7-8 July. The British Grand Prix, round nine of the FIA Formula One World Championship, will see Bridgestone’s medium and hard compound Potenzas put through their paces on the circuit’s high-speed layout and abrasive surfaces. With rain featuring strongly in recent UK weather patterns Bridgestone’s wet and extreme wet Potenzas may also get their chance to come into play.

Bridgestone Motorsport head of Track Engineering Operations Kees van de Grint has spoken about the upcoming British Grand Prix:

What are the challenges of the Silverstone circuit?

“Although the circuit is not as fast as it used to be it is still a very fast track with an average speed over the lap of 230 kph. The majority of the lap is very fast and in top gears so cars require fast corner stability and the tyres need to have good heat and wear resistance, which is why we will bring the hardest tyres in our range. The whole lap is not high speed however, as the lower speed complex at the end of the lap is where time can be lost or found. Tyre grip and minimizing graining will be deciding factors here.”

6th July 2007/by Tyrepress Editors

Yokohama Rubber Traded Immunity for Information in Cartel Case

It has been reported that Yokohama Rubber provided evidence against its former associates involved in the recent price fixing controversy in exchange for immunity, allowing the US Justice Department to the break the international price cartel that included Dunlop Oil & Marine, Trelleborg Industrie SAS and domestic rival Bridgestone. The information Yokohama Rubber supplied led to the May arrests of eight senior company officials.

The Justice Department claims that the eight men had met in the United States, Bangkok and London on numerous occasions since 1999 in order to predetermine which company would be awarded contracts. They are also suspected of manipulating the tender prices for marine hoses.

6th July 2007/by Tyrepress Editors

Bridgestone President Honoured with Polish Award

Shoshi Arakawa, chairman of the board, CEO and president of Bridgestone Corporation, has been awarded the Commander’s Cross of the Order of Merit of the Republic of Poland at an awards ceremony held at the offices of the Polish Foreign Ministry on July 2. The award was presented by Poland’s minister of Foreign Affairs Witold Waszczykowski in the presence of Pawel Wojciechowski, president of the Polish Information and Foreign Investment Agency (PAIiIZ) and Ryuichi Tanabe, the Japanese ambassador to Poland.

The Commander’s Cross of the Order of Merit of the Republic of Poland is one of the most prestigious Polish orders that can be bestowed for economic relations. “The Commander’s Cross you kindly awarded me today, as I understand, is the demonstration of your high evaluation of Bridgestone’s contribution to the economic development of Poland. I can also recognise how high your expectation on Bridgestone is for the future” commented Arakawa. “It makes me more deeply impressed to have this famous and prestigious Commander’s Cross in a special year to commemorate the 50th anniversary of the resumption of diplomatic relations between Poland and Japan.”

5th July 2007/by Tyrepress Editors

Early Reports in Error, Bridgestone Employee Injured

(Akron/Tire Review) Early reports about a fatal helicopter crash after last weekend’s Formula 1 race in France were apparently in error as the Bridgestone Corp. employee riding in the aircraft reportedly survived the crash. Three passengers did die in the helicopter crash, which occurred Saturday evening near the Magny Cours circuit. The Bridgestone employee was among two passengers who were injured.

In a statement issued by Bridgestone, which apparently also thought its employee had perished, said: “The Bridgestone employee and a relative survived the crash. Bridgestone wishes to express its sadness and concern at this difficult time.”

4th July 2007/by Tyrepress Editors

Illicit Tappers Attack Rubber Plantation in Liberia

(Akron/Tire Review – Voice of America News, Monrovia, Liberia) Criminal gangs are attacking Bridgestone Corp.’s Firestone rubber plantation in Liberia. Gangs have been illegally tapping the trees, resulting in a loss of hundreds of thousands of dollars worth of rubber. According to local authorities, some of the criminal gangs include as many as 50 people.

“Firestone has been one of the targeted victims of illicit tapping over the year,” said Firestone spokesman Rufus Karmoh. “There have been some fatalities and destruction. It’s been attributed to illicit tappers who are roaming the concession areas in search of rubber to the detriment of our dedicated employees and management.”

It’s not known how much the thieves have cost Firestone but it’s estimated to be in tens of thousands of US dollars. Karmoh says the activities of illicit rubber tappers are posing a serious threat to production.

2nd July 2007/by Tyrepress Editors

Six Bridgestone Plants Receive RMA SHIP Awards

(Akron/Tire Review) The Rubber Manufacturers Association recently recognised six Bridgestone Americas facilities for outstanding safety performance.

Mark A. Emkes, chairman and CEO of Bridgestone Americas Holding, accepted the honors at the RMA meeting earlier this year. The six plants include Bridgestone/Firestone North American Tire facilities in Aiken County, South Caroline, Warren County, Tennessee, and Des Moines, Iowa, as well as Bridgestone Firestone Diversified Products facilities in Kingstree, South Carolina, Prescott, Arkanas, and Noblesville, Indiana.

RMA’s Safety and Health Improvement Program (SHIP) awards, created in 1981, acknowledge enhancements in worker health and safety and reward companies’ dedication to worker health and safety.

28th June 2007/by Tyrepress Editors

Bridgestone Revises Profit Forecast

According to newly released non-consolidated financial projections for the 2007 fiscal year January 1 to December 31), Bridgestone’s management expects net sales and operating income to increase over the projections the company announced on February 20, 2007 due in part to the weaker-than-expected Japanese yen against the US dollar and the euro. Net sales have been revised to 1,020,000 million yen (£4.138 billion), up 5.2 per cent on the previously anticipated 970,000 million yen figure.

Bridgestone management also expects an increase in ordinary income and net income over the projections announced on February 20, again due in part to exchange rates, combined with dividend revenue from subsidiary shares due to the reorganisation of some of the company’s domestic subsidiaries. The latest projections for ordinary income put it at 105,000 million yen (£426 million) for the 2007 year, 19.3 per cent higher than expected in February. Net income is anticipated to be 73,000 million yen (£296 million), 25.9 per cent higher than the previous estimate and 18.7 per cent above the 2006 year result of 61,552 million yen (£249.7 million).

27th June 2007/by Tyrepress Editors