Raw Material Costs Prompt More Price Hikes

During the first quarter of 2011, Bridgestone Europe will implement price increases on all consumer, commercial, retreaded and specialty tires sold in Europe.

Prices will rise by an average of 6%, however this will vary between markets and product categories.

Commenting on the announcement, Bridgestone Europe CEO and president Makio Ohashi stated “the cost of raw materials, especially natural rubber, has reached a much higher level than it was four months ago when we announced the last price increase. As I indicated at that time, a further price increase has become necessary to try and recover some of those costs. Our factories continue to operate at maximum capacity with improvements in productivity, flexibility, and efficiency to cope with the challenges including the high cost of raw materials and increased demand for our quality products. However, we have not seen an end to the escalation of raw materials prices.” (Tyres & Accessories)

The Goodyear Tire & Rubber Company has named Ryan Waldron as president of the company's Americas business unit, reporting to Chief Executive Officer and President Mark Stewart. He succeeds Steven R. McClellan, who retired on April 1.

"At Goodyear, our customers are at the center of everything we do, and in Ryan Waldron, we have a customer-centric, execution-focused business leader with a deep understanding of both the marketplace and all aspects of our business, as well as a proven track record of delivering results," Stewart said. "I am thrilled to announce him as president of Goodyear's Americas business and have enormous confidence that under his leadership, both the company and our customers will reach even greater levels of success."