Bridgestone expects to lose $345 million from tire recall

Article Abstract:

The article discusses the announcement by Bridgestone/Firestone Inc., Bridgestone Corp.'s U.S. subsidiary, to recall 6.5 million ATX and ATX II tires made in North America, and certain Wilderness AT tires manufacturer at the company's Decatur, IL facility. The recall will cost the company 37.2 billion yen ($345 million) in special losses in 2000.

Product quality

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Bridgestone cuts estimate

Article Abstract:

As Firestone replacement tire sales plummet by 40% in the U.S., parent company Bridgestone Corp. predicts a net income for 2000 of 13 billion yen, an 81% decrease. Meanwhile, a company-led investigation has not revealed a specific cause for tire failures that led to 148 deaths in the US.

Sales, profits & dividends, Forecasts, trends, outlooks, Market share

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Bridgestone to inject $1.3 billion into unit to offset losses

Article Abstract:

Bridgestone Corp. is putting money into the financially drained Bridgestone Firestone Inc. after the tire recalls and lawsuits of 2001. The company has lost over $2 billion since the tires were recalled, and relations with Ford Motor Co. are still tense.

Motor Vehicles & Parts, Transportation Equipment Manufacturing, Motor Vehicles and Equipment, Ford Motor Co., Transportation equipment industry, F

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