Connect with us

Raw Materials Eat at Bridgestone Australia Results

(Akron/Tire Review) Bridgestone Australia barely posted a profit for the first quarter of 2006 thanks to rising raw material costs, the company said. The company posted after tax profits of $270,000 (Australian dollar), down from $2.1 million for the same period last year, against sales of $124.9 million, up 1.2% from last year.

Advertisement

 Bridgestone Australia said the price of natural rubber was especially harsh on its returns, jumping some 25% over the last six months. “And we have also seen significant increases in the price of oil, carbon black, synthetic rubber and steel,” the company said.

Advertisement

The company recently increased prices by 5% to offset the cost increase. Bridgestone said it doesn’t expect to beat last year’s results, and “steps are being taken where possible to minimize any adverse profit impact of high raw material prices.”

Advertisement
Click to comment

POPULAR POSTS

Yokohama-Port-Tires-Drive-1400 Yokohama-Port-Tires-Drive-1400

Commercial Tires

Port Tire Demand Grows as Shipping Industry Pressure Mounts

Bridgestone-Adds-Three-Products-Firestone-Classics-Long-Haul-Tire-Line-1400 Bridgestone-Adds-Three-Products-Firestone-Classics-Long-Haul-Tire-Line-1400

Commercial Tires

Bridgestone Adds Three Products to Firestone Classics Long- Haul Tire Line

Coats-1400 Coats-1400

Service

Three Tips When Purchasing a New Automotive Lift

Rusted-TPMS Rusted-TPMS

TPMS

Don’t Let the Causes of TPMS Corrosion Cost Your Customers

Connect
Tire Review Magazine