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Bridgestone to supply tyres for F1

PARIS, France -- Japanese company Bridgestone will exclusively supply tyres for the Formula One world championship from 2008 to 2010.

Bridgestone had been favorites to win the deal since French manufacturer Michelin refused to participate after world governing body FIA asked for offers.

The FIA's aim has been to lower the astronomical costs for teams. At present both Michelin and Bridgestone provide tyres to the 11 teams.

The French manufacturer supplies Renault, McLaren, Honda, Red Bull, BMW Sauber and Toro Rosso and the Japanese company supplies Ferrari, Williams, Toyota, Midland and Super Aguri.

Michelin reacted in a statement by saying: "The change of Formula One rules bringing about a monopoly in tyres is completely contrary to principles.

"Formula One should be a place were advanced technologies compete as a means of improving motor sport."

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