Bridgestone Corporation has decided that the 2010 season will be the last time that it will participate in the Formula One as its sole supplier of tires. Bridgestone’s exclusive supply contract marks its third year in 2010. A media statement confirms that the company has decided not to seek an extension and to pull out of the sport.

Hiroshi Yasukawa, boss of the company’s motor racing program, explained that Bridgestone wants to redirect “resources towards the further intensive development of innovative technologies and strategic products.” In 1997, Bridgestone entered F1 in competition with Goodyear. It later pitted its products against Michelin’s. It was the only supplier in 2007. A sole official supplier contract was then entered for the years 2008-2010.

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