Bridgestone To Quit Formula One After 2010 Season

F1�s sole supplier of tyres announced today its decision to pull out of the sport after the 2010 season. 2010 marks the third year of Bridgestone�s exclusive supply contract with formula one, and a media statement said the Bridgestone Corporation in Japan decided not to seek an extension.

A disappointed Hiroshi Yasukawa, boss of the company�s motor racing programme, said the decision was about the redirection of �resources towards the further intensive development of those innovative technologies and strategic products which support the company�s goals and further enhance the company�s reputation as a technology leader.�

Bridgestone entered F1 in 1997 in competition with Goodyear, and later pitted its products against Michelin�s. It was the only supplier in 2007, then entering a contract to be the sole official supplier between 2008-2010.

�The company has benefited directly from its involvement in Formula One racing,� the tyre supplier stated. �The lessons learned through Bridgestone�s successful participation have translated into innovations that can be applied to the design and manufacture of tyres.

�In addition, its collaboration with F1 has contributed to increased brand awareness and the recognition of Bridgestone as a leader in the global tyre industry. Having achieved these goals, Bridgestone is now poised to take its technological and brand building efforts to the next level.�