Bridgestone has said it may close its Bridgestone/Firestone Dayton tyre plant, in Oklahoma City.

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The factory employs around 1,400 people, but it lost US$40m last year and $17m in the first quarter of this year. Discussions with union representatives are on-going and no closure is expected before 31 December.


However Bridgestone has said the plant closure is likely to result in a $170m loss and that it will book a special loss of £140m related to the closure in the first half of this year.


Bridgestone said its net profit rose 4% in the first quarter, to 27.1bn yen (US$240m).


Operating income rose 8% to 47.4bn yen ($419m). Quarterly sales rose 17% to 704.7bn yen ($6.2bn) from 603.9bn yen.

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Bridgestone’s results have only recently recovered from the effect of a massive recall of its tyres on Ford vehicles. Bridgestone paid $240m to Ford last year to settle its dispute with the company.


Bridgestone has boosted its profits by developing more expensive, higher value-added tyres. Sales in the Americas increased 25% and were up 13% in Europe, 10% in Japan and 37% in the rest of the world.


Because of the plant closure, for the first half of the year Bridgestone now expects net profit of 30bn yen, a decline of 71% compared to a year earlier.