August 3, 2006
Rising cost of oil and rubber causes Bridgestone Firestone to raise tire prices
Mississauga, Ontario) Bridgestone Firestone Canada Inc. has announced price increases on the company’s Bridgestone, Firestone, Fuzion, Dayton, associate and private brand tire lines. The announced increases, up to 4 percent on passenger and light truck, truck and bus, and agricultural and off-the-road tires, are scheduled to begin phasing in September 1, 2006.
According to Asahiko “Duke” Nishiyama, vice chairman and president of BFNT, “We are seeing an unprecedented combination of factors that simply cannot be managed through the enhanced efficiencies and increased productivity that we are continually implementing at all levels of our company. With the cost of petroleum rising at unprecedented rates and natural rubber at record levels, we have no choice but to take this action.”