Monday, 2nd November 2009
In Business In Japan,
Bridgestone announces F1 pull out
Japanese tyre manufacturer Bridgestone has announced it will no longer provide tyres for Formula One as of the end of the next season on the racing calendar.
In a statement, Bridgestone said that it was "addressing the impact of the continuing evolution of the business environment".
As well as this, the firm said that it is now going to make moves to focus on technological advances and is planning to look into the development of eco-friendly products.
Bridgestone has supplied tyres to Formula One for 13 years, with French manufacturer Michelin and US tyre maker Goodyear both previously supplying the racing group.
According to the tyre firm, it made around 40,000 tyres for ten Formula One teams last year.
Earlier this year, Japanese car maker Honda announced it will no longer host the Japanese Grand Prix as of 2010.
The Fuji International Speedway is 93.4 per cent owned by the firm.
Written by Kimberley Homer.