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Bridgestone to raise China tyre prices in August

Sun Jul 6, 2008 11:23pm EDT

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SHANGHAI, July 7 (Reuters) - Bridgestone Corp (5108.T), Japan's top tyre maker, said on Monday it will raise prices in China by up to 10 percent beginning in August due to higher raw material prices, its second price hike this year.

China

Bridgestone will mark up prices for tyres for cars, trucks and buses by 7 to 10 percent, after a price hike of 3 to 5 percent in March and cost-cutting initiatives were unable to offset higher-than-expected increases in prices of raw materials, including rubber, it said in a statement. It did not indicate its current prices.

Bridgestone, which competes with Michelin (MICP.PA) and others in China, operates four manufacturing facilities in the country. (Reporting by Fang Yan; Editing by Edmund Klamann)

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