TOKYO (Sept. 24)—Bridgestone Corp. estimates the direct and indirect costs of a Sept. 8-9 fire that destroyed the rubber mixing area at its Tochigi tire plant at $357 million. The losses will result in a $45 million, or 3.4 percent, drop in 2003 operating income, although the weakening yen and strong exports largely will offset the costs, the company said. Half of the $357 million will be lost sales from the facility, which makes passenger, light truck and medium truck/bus tires, Bridgestone said. The fire caused $26.8 million in direct costs—value of the building, equipment and inventories and cleanup—and Bridgestone said it would invest nearly $90 million to rebuild and equip the mixing department, which should be operational by September 2004.
Fire to cost Bridgestone $357 million
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