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Bridgestone to halt F1 tyres supply
Source: Agencies |
November 2, 2009, Monday
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BRIDGESTONE Corp will not renew a tyre supply contract for Formula One after the current deal expires at the end of the 2010 season, the Japanese manufacturer said today.
The sole supplier of tyres to the series since 2007, Bridgestone added it would continue its interest in Formula One for next season but wanted to concentrate on new technology and products after that.
"The company focused on the need to redirect its resources towards the further intensive development of those innovative technologies and strategic products which support the company's goals and further enhance the company's reputation as a technology leader," Bridgestone said in a statement.
Bridgestone has been regularly supplying tyres to Formula One since 1997 and became the sole supplier a year earlier than scheduled when Michelin withdrew after the 2006 season.
"The lessons learned through Bridgestone's successful participation have translated into innovations that can be applied to the design and manufacture of tyres," the statement said.
"In addition, its collaboration with F1 has contributed to increased brand awareness and the recognition of Bridgestone as a leader in the global tyre industry.
"Having achieved these goals, Bridgestone is now poised to take its technological and brand building efforts to the next level."
The sole supplier of tyres to the series since 2007, Bridgestone added it would continue its interest in Formula One for next season but wanted to concentrate on new technology and products after that.
"The company focused on the need to redirect its resources towards the further intensive development of those innovative technologies and strategic products which support the company's goals and further enhance the company's reputation as a technology leader," Bridgestone said in a statement.
Bridgestone has been regularly supplying tyres to Formula One since 1997 and became the sole supplier a year earlier than scheduled when Michelin withdrew after the 2006 season.
"The lessons learned through Bridgestone's successful participation have translated into innovations that can be applied to the design and manufacture of tyres," the statement said.
"In addition, its collaboration with F1 has contributed to increased brand awareness and the recognition of Bridgestone as a leader in the global tyre industry.
"Having achieved these goals, Bridgestone is now poised to take its technological and brand building efforts to the next level."
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