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Bridgestone Raises Prices for Tires
Company will charge more for tires in Asia, Oceania, the Middle East and Africa to cover rising costs of raw materials
Tokyo (April 30, 2003) - Bridgestone
Corporation announced today that it has begun raising the prices that it
charges for tires. The price increases range between three and five percent
and vary by product and by market. They pertain to radial and bias tires
for passenger cars, light-trucks, truck and buses that Bridgestone sells
under the Bridgestone and Firestone brands in Asian markets outside Japan
and in Oceania, the Middle East and Africa. Bridgestone has been implementing
the price increases in stages since March 1. The price increases are a measure
to compensate for the rising costs of raw materials, including natural rubber,
synthetic rubber, carbon black and some chemical additives.
Bridgestone Corporation, headquartered in Tokyo, is the world's largest
manufacturer of tires and other rubber products. Tires account for
80 percent of Bridgestone Group sales worldwide. The company also manufactures
industrial rubber and chemical products, sporting goods, and other
diversified products. It sells its tires and other products in more
than 150 nations.
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