Bridgestone delighted to get tyre contract

The Japanese company had been expected to win a tender after rivals Michelin announced they were pulling out at the end of this season.

In a statement issued on Thursday, Bridgestone chairman Shoshi Arakawa said the company was very happy with the FIA's decision.

"Bridgestone is delighted to have been selected as the sole official tyre supplier to the world championship for the seasons of 2008 to 2010," said Arakawa. "Bridgestone is one of the world's leading manufacturers of tyres and rubber products and we are very proud that it has been chosen to supply tyres to one of the highest levels of global motorsport.

"Since entering Formula One in 1997, Bridgestone has remained committed to supplying the teams and drivers with safe and competitive tyres. We have also relished the technical challenges that we have been presented with during this time. Following this recent announcement our hope and aim is for all parties competing in Formula One and for the sport itself to benefit from our long-term involvement.

"Bridgestone has considerable experience as a sole tyre supplier in motorsport categories such as the Champ Car World Series, Indy Racing League and in Formula One itself [1999-2000] and it is our intention to offer a world class, professional and fair service to all involved.

"Bridgestone's continued involvement in Formula One is very important to us for several reasons. Not only does it provide us with a global platform for promoting our brand but it also enables us to continue to promote our messages of tyre and road safety both on racing tracks and on normal roads.

"Bridgestone's work with the FIA Foundation on the global road safety campaign, 'Think Before You Drive' is very much part of our company philosophy and we shall continue to pass on the key messages of this campaign utilizing our continued involvement in Formula One."