Bridgestone Firestone North American Tire, LLC and Ryder System, Inc. announced today they have renewed their long-term agreement that began in 1990. Under the agreement, BFNT supplies Ryder's new tire needs, while Bandag, Inc., the nation's largest retreader, provides Ryder with retreading services. Bridgestone Firestone and Bandag dealers provide local Ryder facilities with just-in-time inventory, tire maintenance, wheel maintenance, retreading and emergency road services.
"The renewal of our agreement reflects our commitment to continue optimizing fleet efficiencies," said Tony Tegnelia, president of U.S. Fleet Management Solutions for Ryder. "Bridgestone Firestone and Bandag continue to be valued partners in our commitment to providing our customers with best-in-class value and service."
"We are pleased to announce this long-term pact," said Singh Ahluwalia, President, commercial products, truck and bus tires, BFNT. "As our companies strengthen and evolve, we look forward to establishing even greater standards of quality service and innovation."
Art Campagnoni, Vice President, North American commercial sales, truck and bus tires for BFNT commented, "This pact demonstrates a successful relationship in which Bridgestone Firestone works to deliver high-quality solutions for its customers. We value our relationship with Ryder and look forward to continuing to provide high levels of service for years to come."
On December 5, 2006, Bridgestone Americas Holding, Inc. (BSAH), parent company of BFNT, and Bandag announced that they had entered into an agreement pursuant to which BSAH will acquire the outstanding shares of Bandag. This transaction is expected to close in the second quarter of 2007, subject to the receipt of applicable regulatory approvals.
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