Value, in the end, is built into Bridgestone, its tires and non-tire products alike.
Because Bridgestone products start with sustainability. And that commitment to more sustainable products and operations is essential as Bridgestone moves forward, Ferrari said.
Perhaps that sustainability commitment is best embodied by the company's retread focus and its Enliten technology suite.
"We have worked very hard within the retread business. Of course, retread is another area where (Bridgestone Americas) is super strong," Ferrari said. "I mean, retread in the U.S. is one of our most successful businesses. It's actually one of our first service solutions businesses that Bridgestone engaged in with the acquisition (of Bandag) in 2007."
Successful, indeed. And sustainable too.
Bridgestone/Bandag easily is the retread market leader, according to the Tire Retread & Repair Information Bureau, which estimates the company's U.S. retreaded truck tire market share to be around 44 percent.
For perspective: No. 2 Michelin/Oliver, maintains roughly 24 percent of the market, while Goodyear holds about 22 percent of the truck tire retread market share. The remaining players hold single-digit market percentages.
Bridgestone sees great reason to encourage retreading, too. Because it saves significantly on raw materials and reduces the number of end-of-life tires. Bridgestone and the U.S. Tire Manufacturers Association estimate that retreading has the potential to, among other things:
- use 15 fewer gallons of oil and 90 fewer pounds of total material per tire;
- save about 215 million gallons of oil per year in the U.S. and Canada; and
- remove about 1.4 billion pounds per year from the waste stream.
And when it comes to more sustainable, that's where Enliten can make a difference.
Because Enliten—a tool box of sorts—gives Bridgestone the materials and processes that lead to greater sustainability. The kind that leverages sustainable materials for the kind of performance that preserves fuel economy, extends range and lets tires last longer.
"We talk about Enliten technology, which means also not just continuing to improve our core—I would say 'traditional' feature of the performance of a tire—but also the sustainability component, which is around rolling resistance, which is about wear and also about material circularity numbers."