Top Gear Philippines

Rubber company Bridgestone has decided not to renew its contract as the exclusive supplier of tires in Formula One when it expires at the end of 2010.

The decision to quit F1 came as a way for Tokyo-based Bridgestone to address "the impact of the continuing evolution of the business environment."

Bridgestone acknowledged that its involvement in Formula 1 has delivered benefits for the company both in product development and marketing efforts.

"Having achieved these goals, Bridgestone is now poised to take its technological and brand building efforts to the next level," the company said.
Bridgestone said the company is still committed to supporting F1 and the series' teams for the rest of the 2010 season.

Bridgestone became a tire supplier for F1 in 1997 and has won 156 Grands Prix, 10 drivers' and 10 constructors' titles. Bridgestone competed against American tire company Goodyear for the 1997 and 1998 seasons and against French tire maker Michelin from 2001 to 2006. Bridgestone has been the sport's sole tire supplier since 2007.

Patrick Everett Tadeo
Writer
TopGear.com.ph's resident writer lives and breathes the news. He might have burned a few bridges along the way just to give you the most relevant--and important--ones.
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