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09-15-11

Bridgestone ranked #1 in Tire Business annual report

Bridgestone is still number one in the global tire market, according to an annual report published by Tire Business.

The 2011 Global Tire Company Rankings showed Bridgestone Corporation held its top rank for the third year in a row, with Group Michelin, Goodyear and Continental A.G. coming in second, third and fourth, respectively. The top 11positions in the ranking didn't change between the 2010 and 2011 reports.

The rankings, which are based on 2010 sales figures, reported Bridgestone had sales of more than $24 million. Michelin had sales of $22.5 million; Goodyear had sales of $16.9 million. The report said Bridgestone's 44 percent ownership in Turkey's Bridgestone BRISA and a 19 percent state in Nokian Tyres helped the company retain its top spot.

For the first half of 2011, financial statements from Bridgestone Corporation show revenue growth came from the tire business, where they reported $15.1 billion in sales, according to the annual survey's report on 2011 first-half results and year-end outlook. Bridgestone is projecting gains of more than 16 percent in both operating and net income and 9.4 percent in sales to more than $38 billion.

Type: Corporate