Post by blacktulip on Nov 2, 2009 11:18:50 GMT
Bridgestone has announced that it will pull out of Formula 1 when its current tyre supply contract finishes at the end of next year.
The surprise decision leaves the world championship searching for a new source of control tyres from 2011 onwards.
Hiroshi Yasukawa, head of Bridgestone's motorsport arm, said the move was a major disappointment to the staff working on F1 projects.
"The decision made by the board of directors of Bridgestone comes after considerable and lengthy evaluations and has been based on the company's need to redirect its resources towards the further intensive development of innovative technologies and strategic products," he said.
"While we understand and respect the reasons for this decision, it has nevertheless come as a great disappointment.
"Bridgestone's relationship with the FIA Formula 1 world championship stretches beyond being a tyre supplier.
"Formula 1 has been of strategic importance to Bridgestone in developing its technologies, raising the company's brand awareness and providing its strategic business units around the globe with promotional and marketing tools that are intrinsically linked to our company's core products."
Bridgestone entered F1 at the start of 1997, beginning a two-year tyre war with Goodyear that saw the Japanese firm winning its first races and titles with McLaren in its second year.
Goodyear's subsequent departure left Bridgestone as F1's sole supplier in 1999 and 2000 before a new battle began with Michelin.
But the FIA was keen to end the tyre war to reduce costs and keep speeds in check using a control tyre - a prospect Michelin had no interest in but Bridgestone was happy to fulfil.
That meant Bridgestone has supplied the whole field since 2007, and Yasukawa emphasised that his company's commitment would not waver in 2010 even though it would be its final season in the sport.
"Bridgestone continues to be wholly committed to the provision of safe tyres of the highest quality to the FIA Formula 1 world championship in 2010 and to the running of its tyre servicing operation at the highest level."
The surprise decision leaves the world championship searching for a new source of control tyres from 2011 onwards.
Hiroshi Yasukawa, head of Bridgestone's motorsport arm, said the move was a major disappointment to the staff working on F1 projects.
"The decision made by the board of directors of Bridgestone comes after considerable and lengthy evaluations and has been based on the company's need to redirect its resources towards the further intensive development of innovative technologies and strategic products," he said.
"While we understand and respect the reasons for this decision, it has nevertheless come as a great disappointment.
"Bridgestone's relationship with the FIA Formula 1 world championship stretches beyond being a tyre supplier.
"Formula 1 has been of strategic importance to Bridgestone in developing its technologies, raising the company's brand awareness and providing its strategic business units around the globe with promotional and marketing tools that are intrinsically linked to our company's core products."
Bridgestone entered F1 at the start of 1997, beginning a two-year tyre war with Goodyear that saw the Japanese firm winning its first races and titles with McLaren in its second year.
Goodyear's subsequent departure left Bridgestone as F1's sole supplier in 1999 and 2000 before a new battle began with Michelin.
But the FIA was keen to end the tyre war to reduce costs and keep speeds in check using a control tyre - a prospect Michelin had no interest in but Bridgestone was happy to fulfil.
That meant Bridgestone has supplied the whole field since 2007, and Yasukawa emphasised that his company's commitment would not waver in 2010 even though it would be its final season in the sport.
"Bridgestone continues to be wholly committed to the provision of safe tyres of the highest quality to the FIA Formula 1 world championship in 2010 and to the running of its tyre servicing operation at the highest level."
