3363 Picks Bridgestone
Bridgestone UK and Truck Point, its network of independent truck tyre dealers, have won a three-year contract with wholesale food distributor 3363 First for Foodservice to provide total tyre management services.
Based in Japan, Bridgestone Corporation is the world’s largest tyre and rubber company.
Tag Archive for: Bridgestone
Bridgestone Officially Opens Steel Cord Plant in China
Product NewsBridgestone Corporation officially opened Bridgestone (Shenyang) Steel Cord Co, Ltd, in Liaoning Province, China. Bridgestone invested US$94.3 million in the construction of the plant, which began producing steel cord for truck and bus radial tyres in August this year. Production capacity is projected to reach 70 tons per day by the end of 2007.
About 100 people attended the opening ceremony, including Chinese government and municipal officials such as Song Qi, deputy mayor of Shenyang. Heading the Bridgestone contingent were Masaharu Oku, the board of directors, vice president and senior officer responsible for tyre production and distribution, Hiromichi Odagiri, vice president and senior officer, chief representative of Bridgestone tyre operations in China, Kaoru Fujioka, vice president and officer in charge of steel cord, and various other plant officials.
Subaru Impreza to Ride on Bridgestone Potenza RE92 Tyres
Product News(Akron/Tire Review) Bridgestone/Firestone North American Tire (BFNAT) announced that the 2006 Subaru Impreza will be fitted with Bridgestone Potenza RE92 tyres. Impreza WRX sedan and wagon models will sport the Potenza RE92 tyres in size 215/45ZR17. ”Interlocking triangulated blocks and circumferential grooves in the tread design” enhance wet, dry and snow traction, according to BFNAT. “The computer-enhanced tread design also minimizes road noise, and the tyre’s polyester cord body promotes ride comfort,” the manufacturer added.
Bridgestone Provides Tyres for Giugaro’s 50th Anniversary Car
Product NewsBridgestone has announced that its Potenza RE050 tyres will be fitted onto the Ferrari GG50 concept car designed by world- designer Giorgetto Giugiaro. The Ferrari GG50 was designed by Giugiaro to celebrate his 50th year engaged in car design. The concept model, based on the Ferrari 612 Scaglietti, is the only one of its kind in the world and is not intended for production or sale.
Bridgestone Announces Enormous Expansion Plans
Product NewsBridgestone Corp has announced huge expansion plans, which could see the manufacturer spend as much as 200 billion yen (£990 million) every year between now and 2008.
Bloomberg has reported that Bridgestone is pre-empting a stagnation in the domestic Japanese market by increasing investment in new factories and upgrading equipment. The company is aiming for sales of 3 trillion yen (approximately £15 billion) by 2008, with a profit margin of 5 per cent, company president Shigeo Watanabe told a Tokyo press conference. “We are aiming to capture about 20 per cent of the global market share for tyres” by 2008, from the current share of “between 18 per cent and 19 per cent,” he said.
Bridgestone Increases Number of Retail Outlets in China
Product News(Akron/Tire Review) A report by the Shanghai Daily says that Bridgestone Corp. will add 750 retail tyre outlets to its distribution in China by 2010, with some 400 of them being “high-end branded stores.”
Already, Bridgestone has 4,850 sales outlets in China, and will boost that total to 5,600 within five years. Among those are 100 Car Wings company-owned outlets, which Bridgestone says it will increase to 500 stores. Car Wings outlets sell tyres, wheels, stereo equipment and accessories.
Bridgestone Settlement Could Benefit US Operations
Product NewsInternational ratings agency Fitch Ratings has said that the settlement between Bridgestone and the Ford Motor Company could pave the way for Bridgestone to improve profitability in its US operations. The settlement, which is in relation to the infamous “August 2000 Firestone/Ford Explorer Tyre Recall” problem, will have a negative effect on Bridgestone’s financial position in the short term. Despite this Fitch affirmed Bridgestone’s senior unsecured foreign currency rating at ‘A’ with stable outlook and short-term rating at ‘F1.’
Bridgestone Opens Guangzhou Urethane Foam Plant
Product NewsBridgestone Corporation has officially opened a plant that produces urethane foam for automobile seats in China. The operator of the plant is Guangzhou Bridgestone Chemical Products Co., Ltd., a joint venture company for the manufacture and sale of urethane foam for automobile seats located in Guangzhou City. Bridgestone set this facility up together with the automotive components arm of Guangzhou Automobile Industry Group Co, Ltd on 5 July 2004.
BFNAT Writes $240 Million Check to Settle With Ford
Product News(Akron/Tire Review) Bridgestone/Firestone North American Tire (BFNAT) has reached a settlement agreement with Ford Motor Co on “outstanding financial issues” tied to BFNAT’s August 2000 Firestone Wilderness tire recall and Ford’s subsequent May 2001 tire replacement program. In the agreement, BFNAT will pay Ford some $240 million. BFNAT said the deal “settles all remaining matters between the two companies related to these campaigns.”
FIA Considers Reinstating Tyre Changes Into F1
MotorsportAs Kimi Raikonnen celebrates what he has described as one of his best victories ever, the FIA is said to be considering a U-turn on its policy of keeping to one set of tyres per race weekend. Despite starting back in 17th on the grid, Raikonnen powered to victory on the last lap of the Japanese Grand Prix. Renault’s Giancarlo Fisichella and Fernando Alonso filled the remaining podium places. Once again, Michael Schumacher’s seventh place Ferrari was the only Bridgestone shod vehicle to score points.
Bridgestone to Exhibit at Tokyo Motor Show
Product NewsBridgestone will run a booth at the 39th Tokyo Motor Show to be held at Makuhari Messe in Chiba City from 22 October to 1 November.
The theme of the Bridgestone stand this time is “Technology for People”, and will comprise three corners – Premium, Future, and Safety – and will introduce aspects of tyres and technology supporting automobiles, which are such an important part of people’s lives.
Bridgestone’s E-reporter Announced
Product NewsThe UK finalist of the Bridgestone e-reporter competition, Mike Channell, has been announced as the overall winner of its pan-European Bridgestone e-reporter young journalist competition.
He attended the European Grand Prix as part of his prize and reported on the inaugural GP2 Series for Bridgestone Europe and the GP2 Series’ websites. Channell will fly to Japan for this year’s Tokyo Motor Show, and also received a new laptop.
Mixed Fortunes for US Tyre Market
Product NewsThere was mixed news concerning demand for tyres in the USA during September. Light vehicle tyre shipments during the month were up 2.6 per cent compared with September last year, which came as a surprise to some analysts, who were expecting sales to fall as a reaction to high fuel prices. The good news is tempered by the fact that these figures represent shipments to dealers, rather than sales to consumers.
Team Ferrari Visit Bridgestone HQ
Product NewsBridgestone has called in some of its celebrity connections to help motivate workers in advance of next weekend’s Japanese Grand Prix. Michael Schumacher, Rubens Barichello, and Ferrari F1 team managing director Jean Todt recently visited Bridgestone’s worldwide headquarters in Tokyo at the invitation of Bridgestone Corporation president, CEO and chairman, Shigeo Watanabe.
Analysts Downgrade Bridgestone
Product NewsDeutsche Bank analysts have downgraded Bridgestone shares to hold. The news comes after the Japanese company’s share price reached the analysts’ target level. Bridgestone shares are now rated as ‘hold,’ with a modified target price of 2450 yen against the previous level of 2500 yen.
