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Continental Market Leader in Bulgaria

Continental is the leading player in the Bulgarian tyre market, with a 30 per cent market share, Bulgarian newspaper Dnevnik am has reported. According to Europool figures, total sales in Bulgaria will reach 1.1 million units this year. Goodyear is estimated to hold the second largest share with 25-27 per cent of the market, followed by Michelin with 18-23 per cent and Bridgestone-Firestone with 8-12 per cent. These figures do not include the local sales of Korean, Turkish and Russian tyre brands.

16th November 2005/by Tyrepress Editors

Sameer to Roll Out New Tyres

Sameer Africa’s first Kenyan branded and produced tyres have rolled of the production line. The firm’s marketing manager, Jeremiah Siage, said Sameer Africa has the capacity to produce its own brands. The tyres open a new chapter for a firm that had previously been associated with the Firestone brand.

11th November 2005/by Tyrepress Editors

BFNAT Sets 10 Years as Tyre Life Span

(Akron/Tire Review) The Wall Street Journal reported this morning that Bridgestone/Firestone North American Tire (BNAT) is now recommending a maximum life span for passenger vehicle tyres – 10 years. This is a clear break from other US tyre companies, which have fought state and federal attempts to mandate a specific life span and/or require “born on” dates on tyre sidewalls.

10th November 2005/by Tyrepress Editors

BFNAT Canadian Plant Gets Capital Boost

(Akron/Tire Review) Bridgestone/Firestone North American Tire’s Canadian operation and the Quebec government will invest $53.3 million (Canadian) on improvements to the company’s 40-year-old Joliette, Quebec, tyre plant.

The deal was announced last Friday, and is intended to preserve some 1,250 jobs at the plant. Bridgestone/Firestone Canada Inc will contribute $49.8 million and the provincial government will add $3.5 million. Most of the funds will go toward new equipment and facility reorganization.

9th November 2005/by Tyrepress Editors

Subaru Impreza to Ride on Bridgestone Potenza RE92 Tyres

(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.

20th October 2005/by Tyrepress Editors

Bridgestone Announces Enormous Expansion Plans

Bridgestone 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.

18th October 2005/by Tyrepress Editors

Bridgestone Settlement Could Benefit US Operations

International 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.’

17th October 2005/by Tyrepress Editors

BFS Units to Slow Customer Deliveries Due to Storms

(Akron/Tire Review) The lingering effects of Hurricanes Katrina and Rita have forced Firestone Industrial Products to announce plans for reduced shipments of finished products, including its line of air suspension products. The unit of BFS Diversified Products formally declared “force majeure” for all of its customers effective immediately, citing slowdowns at its raw material suppliers.

14th October 2005/by Tyrepress Editors

BFNAT Writes $240 Million Check to Settle With Ford

(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.”

12th October 2005/by Tyrepress Editors

Ian Palmer 1947 – 2005

It is with sadness that Tyres & Accessories learnt of the passing of Ian Palmer, advertising manager of Retreading Business. Ian died suddenly on 22 September, aged 58, while working with colleagues in Belgium. He leaves a son, Stuart, and a daughter, Louisa.

27th September 2005/by Tyrepress Editors

BFNAT Set to Raise Prices

(Akron/Tire Review) Reuters reported this morning that Bridgestone/Firestone North American Tire (BFNAT) will raise prices on its branded, associate and private brand tyres by as much as 8 per cent as of 1 November. The increase covers the US and Canada, and the company’s Bridgestone, Firestone and Dayton brands.
Duke Nishiyama, BFNAT president, said in a statement: “Our tyre companies are facing dramatic increases in raw material costs. Unfortunately, these dramatic raw material cost increases simply cannot be offset by the enhanced efficiencies and increased productivity that we have implemented at all levels of our company.”

19th September 2005/by Tyrepress Editors

BFNAT Plant Celebrates 40th Birthday

(Akron/Tire Review) Bridgestone/Firestone North American Tire’s (BFNAT) lone Canadian tyre plant is celebrating its 40th anniversary this week. The celebrations at the Joliette, Quebec, plant included a large family event, attended by nearly 1,000 workers and their families, as well as local and provincial officials.

“We are very proud of how far we’ve come in 40 years and are confident for the future of the plant, now favourably positioned to face world competition,” said plant general manager Isaku Motohashi. The nearly one-million-square-foot plant employs some 1,250 workers, and produces passenger and light truck/SUV tyres.

8th September 2005/by Tyrepress Editors

Bridgestone Expands Steel Cord Facility

Bridgestone is to extend its steel cord Metalpha plant in Clarksville, America. The tyre manufacturer is investing $45 million in the expansion according to company spokesman Dan McDonough.

Around 127, 365 square foot will be added to the site, along with $31 million of new equipment. The fast-track project is scheduled to be completed in November.

Bridgestone Americas Holding has 38 facilities in North and South America. The company was formed in 1990 when Bridgestone U.S.A. merged with Firestone.

2nd September 2005/by Tyrepress Editors

Bridgestone Minority Opposes Buyout

A minority shareholder of Bridgestone Firestone Maxiprest, South Africa, wants to block the company’s proposed minority shareholders’ buyout scheme according to news reports.

The company offered minority shareholders Rand 115 cent a share. It said 35.5 per cent of shareholders had voted in favour of the scheme. However, Peter Burmeister urged shareholders to reject the offer. He said the company should pay shareholders 140c per share.

2nd September 2005/by Tyrepress Editors

BFNAT Adds to Blizzak Line

(Akron/Tire Review) Bridgestone/Firestone North American Tire (BFNAT) has added the Blizzak Revo1 to its line of winter tyres. Designed for severe ice or snow conditions and allow a solid grip on wet and dry roads, said BFNAT, the Revo1 features “tube multicell” compound that has embedded particles to improve grip, a cross-rib surface for ice traction, and zig-zag siping for traction and water and slush dispersion. The Blizzak Revo1 is available in 11 Q-speed rated sizes, and has a non-directional tread design for 65- and 60-series sizes and a directional tread for 55- and 45-series sizes.

16th August 2005/by Tyrepress Editors