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Multiple Causes Of Accidents Cited By Bridgestone/Firestone

Bridgestone/Firestone has issued the results of its four month investigation into the accidents in the USA involving certain Firestone tyres. A number of causes were identified, including unspecified manufacturing problems at Decatur, tyre design in the shoulder area, driver abuse (travelling too fast and at the wrong pressure) and the weight of the Ford Explorer vehicle, particularly an alleged uneven weight distribution on the back axle. Ford denies that the margin for error between the load capacity of the tyres and the weight of a fully-laden Explorer is too slim.

30th November 2001/by Tyrepress Editors

Business As Usual In South Africa – Ford And Bridgestone

In South Africa, Ford and Bridgestone/Firestone have announced that the split between the two companies in the USA will not affect their 50-year relationship. Ford SA’s director of corporate affairs Craig von Essen said that the recall problem was a matter for the US companies and that, as far as the South African company was concerned, it was “business as usual”. Bridgestone supplies South African companies with ATX and R45 Wilderness tyres, manufactured locally. As well as Ford SA, it supplies tyres to BMW SA, Toyota SA and Nissan SA.

30th November 2001/by Tyrepress Editors

Firestone Settles Law Suit In Texas

Firestone has settled a court case pending in Texas, paying the person injured due to an Explorer Rollover 7.5 million US-Dollars. Earlier last month Ford and a Ford Dealer already agreed to pay 6.5 million US-$ according to articles in major US newspapers.

30th November 2001/by Tyrepress Editors

US Consumer Watchdog Group Beleaguers Bridgestone/Firestone

The Consumer Group Public Citizens is urging Bridgestone-Firestone/USA to recall another 7 million “Wilderness” tyres and is citing an alleged 1,000 consumer reports. The management of the tyre manufacturer insists that all Firestone tyres are safe and that a recall is not necessary. Only a few weeks ago the same group strongly urged Goodyear to recall 13 million Goodyear tyres which are, according to the files of the consumer group, not safe. Goodyear also refused to do so, claiming that the products are perfectly okay.

30th November 2001/by Tyrepress Editors

Revised Earnings Forecast From Bridgestone Imminent

Bridgestone has said that it will hold a press conference today to give a revised earnings forecast and details of revised output plans for its US subsidiary. Last year’s results were hit by the Firestone recall, with group net profit falling 80 per cent. President Shigeo Watanabe is scheduled to attend the news conference.

30th November 2001/by Tyrepress Editors

Ford And Scheele Take The Helm At Ford

To nobody’s great surprise, Jacques Nasser has been replaced as Chief Executive of Ford, following losses, a dividend cut and the expensive wrangle over Firestone tyres and the Ford Explorer. William Clay Ford Jr. assumes the role of Chief Executive Officer and Sir Nick Scheele, until recently in charge of Ford’s European operations, has been appointed Chief Operating Officer.

30th November 2001/by Tyrepress Editors

Fleet Contract For Bridgestone/Firestone UK

Bridgestone/Firestone UK has won the contract for the sole supply of tyres to the BRS commercial vehicle rental fleet. The fleet consists of around 3,000 vehicles, ranging from 3.5 tonnes to 44-tonne tractor units and will now follow a policy of using Bridgestone new and retread tyres. The three-year contract was won against fierce competition and it is the first time that BRS has used a single tyre supplier. The contract will be serviced through Truck Point, the 220-depot organisation of independent tyre dealers established by Bridgestone/Firestone UK.

30th November 2001/by Tyrepress Editors

Jittery Ford Drop General Ameri*550 AS

Ford has reacted quickly to the NHTSA defect investigation into the General Ameri* 550 by dropping the brand from its replacement campaign. The General Ameri*550 was one of the brands being used to replace the recalled Firestone Wilderness ATs which have been deemed unsafe by Ford. However, Ford stated that the tyre was “performing well” on the F-series pick up, where it is fitted as original equipment.

30th November 2001/by Tyrepress Editors

Temporary Pay Cut For Bridgestone Board

Following the profits warning issued by Bridgestone, the company’s directors have taken a 30 per cent pay cut for four months and there will be no bonuses for senior executives. President Yoichiro Kaizaki said that there are no plans to reduce wages of workers in the USA, despite the fact that Firestone is expected to record a loss this year of US$ 500 million. Looking at the prospects for the Bridgestone group, Mr. Kaizaki predicted a net profit for 2001 of 48 billion Yen.

30th November 2001/by Tyrepress Editors

Ill Wind Might Assist Rubber Industry

The fall out from the Firestone/Ford debacle may not only assist tyre manufacturers in increasing market share at the expense of Bridgestone Firestone, but the natural rubber market may see a boost in demand. An estimated 39,000 tonnes of natural rubber will be needed to replace the 13m tyres being recalled. Traders expect prices of natural rubber to start rising as production is increased to meet the sudden demand for replacement tyres.

30th November 2001/by Tyrepress Editors

More Production Cuts From Goodyear

In the US, Goodyear says that it will reduce tyre production this month and next, due to weak demand for new cars and trucks. Cuts will be made across the board with no layoffs or shutdowns planned. The reduction follows a second quarter cut in production of six million tyres, despite increased demand as a result of the Firestone recall. Shares in Goodyear fell 20 cents at the news.

30th November 2001/by Tyrepress Editors

Board Nominations At Bridgestone

The following nominations will be made at the meeting of Bridgestone Corporation shareholders, to be held on March 29. New board members: Osamu Inoue, currently plant manager, Hikone Plant and John T Lampe: CEO and president, Bridgestone/Firestone Inc. Retiring from the board: Yoichiro Kaizaki, president, chairman and CEO, Tadakazu Harada, executive vice president, Katsuyooshi Shibata, executive vice president, president of Bridgestone Cycle Co. and Hiroji Ohbuchi, president of Bridgestone Tire Osaka Sales Co. Shibata will continue as president, Bridgestone Cycle Co. and Ohbuchi as president of Bridgestone Tire Osaka Sales Co. after 29 March.

30th November 2001/by Tyrepress Editors

First Ferrari President’s Prize Awarded To Bridgestone

Bridgestone became the first winner of Ferrari’s President’s Prize, one of only two to be awarded to suppliers of Ferrari and Maserati, marking excellence and innovation. Ferrari President Luca di Montezemolo presented the award to Shoshi Arakawa, president and CEO of Bridgestone/Firestone Europe at a ceremony at Ferrari HQ. Also present was EC president Romano Prodi. The award was in recognition of Bridgestone’s role in helping Ferrari to the F1 Constructors’ and Drivers’ championships and for tyre development for Gran Turismo cars.

30th November 2001/by Tyrepress Editors

Slight Rise In Turnover For Goodyear In Third Quarter

Goodyear Tire & Rubber has announced worldwide sales in the 3rd quarter of $3.7 bn (Q3 2000 = $3.6 bn). Net income for the same period was $9.3 million, compared to $17 m for Q3 last year. For the first nine months of the year, the company posted a net loss of $29.6 m, compared to net income of $142.3 m for the equivalent period in 2000. Sam Gibara spoke of “a general economic slowdown” and “tough market conditions in many regions.” However, one plus point for the company was a market share gain of 3 per cent in the US replacement tyre market.

30th November 2001/by Tyrepress Editors

JCB Award For Bridgestone/Firestone UK

Bridgestone/Firestone UK (BFUK) has been presented with a “2000 Supplier Award” by JCB, one of only five companies to receive awards and the only tyre company to be nominated. The award was given for supply service, product quality, innovation and cost reduction. John Patterson, JCB’s CO, presented the trophy to Jim Wilson, MD of BFUK, at the JCB Suppliers Conference.

30th November 2001/by Tyrepress Editors