Connect with us

News

Bridgestone to Acquire Otraco International

Bridgestone Corporation‘s group company Bridgestone Mining Solutions Australia Pty. Ltd. will acquire Otraco International Pty Ltd (Otraco), an OTR tire management solutions business, from Downer EDI Limited.

Click Here to Read More
Advertisement

Bridgestone says this acquisition will accelerate the growth of its global mining solutions business and expand the company’s service network in key markets such as Australia, Chile and South Africa.

All business assets, including Otraco’s sales offices and training facilities, OTR customer relationships and the company’s approximately 860 employees will transfer to Bridgestone upon completion of the sale. The transaction, valued at AUD 79 million (approx. $61.33 million), is expected to close by the end of 2021.

The sale is subject to regulatory approvals and other customary closing conditions. The impact of this acquisition on Bridgestone’s consolidated financial results for 2021 will be minor, the company says.

Advertisement
Click to comment

POPULAR POSTS

Tire-Tariff-DOC-Investigation Tire-Tariff-DOC-Investigation

News

DOC Revises Tariffs on Chinese TBR Tires

Hankook-Curtis Brison President North America Hankook-Curtis Brison President North America

People

Brison Named President of Hankook Tire North America

News

Continental to Buy Natural Rubber Via Digital Trading Platform

News

Most Watched Continental Garage Studio Videos of 2021

Connect
Tire Review Magazine