Bridgestone/Firestone North American Tire, LLC and Bridgestone/Firestone Canada Inc. have jointly announced an "across the board" price increase of up to 5% on the companies' tire products sold in the replacement and original equipment markets in all channels, with the price of some sizes of off-the-road tires increasing by up to 8%.
This increase will be effective June 1, 2004, and will affect Bridgestone, Firestone, Dayton, associate and private brand tires.
Said Yuji Tomiyasu, president of BFNT, "We continue to be faced with a continuing escalation of raw material costs. While we have taken many affirmative steps in our plants and in our processes to address and attempt to minimize the impact of these rising costs, we have been unable to offset them entirely, even with our increases in efficiencies and productivity. Therefore, we must take the action we have announced today."