Bridgestone Reports a Surge in Profit
From Associated Press
Japanese tire maker Bridgestone Corp. reported that its profit more than doubled in 2002 from the previous year, led by a turnaround at its U.S. subsidiary Bridgestone/Firestone and rising sales in Europe and Japan.
Bridgestone’s profit totaled $383 million for the year ended Dec. 31, up from $147 million the previous year. Sales rose 5% to $19 billion.
The Tokyo-based company returned to profitability in the first half of the year, underlining a gradual recovery from the aftermath of a massive tire recall in August 2000 at Nashville-based Bridgestone/Firestone in connection with rollover accidents.
