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Bridgestone Unifies Organization for Bridgestone and Firestone

7 August 1998

Bridgestone Unifies Organization for Bridgestone and Firestone Brand Tires in New Zealand

     Business Editors/Automotive Writers

     NASHVILLE, Tenn.--(AutomotiveWire)--Aug. 6, 1998--

    Sales Company Bridgestone Tyres (N.Z.) Ltd. to Merge With Sales 
          and Production Company Firestone N.Z. Limited

     Bridgestone Corporation announced today that it will merge the
two companies that have handled its Bridgestone and Firestone brands
separately in New Zealand.  On September 1, the tire maker will
establish Bridgestone/Firestone New Zealand Limited in Auckland to
inherit the operations of Bridgestone Tyres (N.Z.) Ltd., which markets
Bridgestone brand tires, and Firestone N.Z. Limited, which
manufactures and markets Firestone brand tires.
     Bridgestone Tyres (N.Z.) was previously a wholly owned subsidiary
of Tokyo-based Bridgestone Corporation and Firestone N.Z. was a wholly
owned subsidiary of Bridgestone/Firestone, Inc., Bridgestone's U.S.
subsidiary in Nashville, Tenn.  The new company will report directly
to Bridgestone Corporation in Japan.
     The separate companies for the two tire brands are a legacy of
the era before Bridgestone acquired The Firestone Tire & Rubber
Company in 1988.  Integrating their operations will streamline and
strengthen Bridgestone's position greatly in the New Zealand market.
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*T

Outline of Bridgestone/Firestone New Zealand Ltd. -- New Company
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Establishment:              September 1, 1998
Capitalization:             NZ$32.85 million (about yen 2.3 billion)
Headquarters:               Auckland
Chief executive officer:    John Jenkins
Employees:                  843

Outline of Bridgestone Tyres (N.Z.) Ltd.
----------------------------------------

Establishment:              1965 (acquired by Bridgestone in 1996)
Capitalization:             NZ$13 million (about yen 0.9 billion)
Headquarters:               Manukau (15 kilometers southeast of Auckland)
Chief executive officer:    Takashi Urano
Employees:                  178
Annual Sales (1997):        About NZ$51 million

Outline of Firestone N.Z. Limited
---------------------------------

Establishment:              1948
Capitalization:             NZ$20 million (about yen 1.4 billion)
Headquarters:               Auckland
Chief executive officer:    John Jenkins
Employees:                  665
Annual Sales (1997):        About NZ$111 million

     Bridgestone Corporation, headquartered in Tokyo, is a leader
among the world's tire companies, producing a complete line of tires
which account for 78 percent of its sales worldwide.  It also
manufactures a wide range of diversified products which include
industrial rubber and chemical products, sporting goods and others. 
These products are sold in more than 150 nations and territories
around the world.