Bridgestone Europe announces price increases

15th June 2008, 09:24 am

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Bridgestone Europe NV/SA has announced that it will increase prices on all of its tyre brands and categories. It will apply in all European countries. The increases are between 5% and 8% (8% and 12% in UK and Northern Ireland). The new prices will take effect in each market in coming few months.
According to Gerry Duffy, Vice President Sales & Marketing of Bridgestone Europe, “Even after we increased our prices earlier this year, the raw material prices continue to increase beyond our expectation. The recent increase in the cost of commodities such as oil, natural rubber, iron ore and others heavily affects the costs of almost all the raw materials we consume. As its financial impact is so huge and hard to offset only by our internal efforts, we have to recover some of those costs by this price increase”.

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