Bridgestone 2002 Annual Report Download - page 6

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04
investment in upgraded production and
R&D capabilities and in other phases
of operations. That infusion has thus
strengthened the subsidiary’s financial
foundation for future growth.
We fortified our European operations
further this March by purchasing an
18.9% equity interest in the Finnish tire
manufacturer Nokian Tyres PLC. Nokian
Tyres is the largest tire company in the
Nordic region, with sales of E479 million
in 2002, and it ranks among the most
profitable companies in the global tire
industry in return on sales. It has an exten-
sive network of company-owned retail out-
lets, mainly in the Nordic nations.
New Technologies, Tire and Otherwise
Technology remains the Bridgestone
Group’s most definitive strength, as
evidenced by the companies’ continuing
dominance in Formula One (F1) racing,
in Championship Auto Racing Teams
(CART) competition and in the IndyCar
series. The companies’ technological
strengths continue to increase our collec-
tive competitiveness in products and in
manufacturing.
The number of passenger car models
factory equipped with our runflat tires
grew in 2002. BMW selected Bridgestone
runflats for its new Z4 sports car.
Production technology is another sector
where the Bridgestone Group companies
continue to strengthen their competitive-
ness. We announced a production system in
2002 that is the world’s first to automate
the entire sequence of tire manufacturing.
It provides a completely automated flow,
from the processing of raw materials to the
inspection of the finished tires.
New technologies also are strengthening
our market presence in diversified business.
For example, our ultrapure ceramic prod-
ucts for semiconductor manufacturing have
gained wide acceptance in that sector.
Changing, Growing Demand
The shift in demand that I have mentioned
in regard to Europe is also apparent in the
Americas and in Japan. And our compa-
nies in industrialized nations are focusing
their sales efforts in passenger car tires on
For our European subsidiary to fulfill
its immense potential, it needed and
deserved a boost from the parent
company. We provided that boost
at the end of 2002.