Bridgestone Selling Two Steel Cord Plants - Tire Review Magazine

Bridgestone Selling Two Steel Cord Plants

Bridgestone Corp. entered into a definitive agreement to sell 100% of the shares held in its Italian and Chinese steel cord manufacturing subsidiaries to Belgium’s NV Bekaert SA.

The manufacturing subsidiaries to be sold are Bridgestone Metalpha Italia SpA (BMI), based in Sardinia, and Guangdong Province-based Bridgestone (Huizhou) Steel Cord Co.

As part of this transaction, Bridgestone has entered into a long-term tire cord supply agreement with Bekaert to ensure a stable supply of quality cord.

Bridgestone and Bekaert will complete the transactions once all applicable governmental and regulatory approvals are received. The transaction has an enterprise value of approximately 70 million euros, and is expected to close in the second quarter of 2010.

Combined, the two factories produce 40,000 tons of steel cord per annum and employ more than 430. The Italian plant has been the primary supplier of steel cord to Bridgestone plants in Europe since 1996. The facility in Huizhou opened in 1997 and was one of two Bridgestone-owned steel cord facilities in China.

The sale to Bekaert and the concentration of Bridgestone steel cord at the remaining facility in Shenyang will, notes Bridgestone, allow it to streamline its steel cord business, the company said.

Prior to the announced sale, Bridgestone operated seven steel cord plants worldwide – in the U.S., Italy, Thailand, Huizhou and Shenyang in China, plus Kuroiso and Saga in Japan – supplying this product to the group’s tire manufacturing facilities. (Tyres & Accessories)
 
CAPTION:

The Bridgestone Metalpha Italia plant is one of two acquired by Bekaert.

You May Also Like

Yokohama Rubber reveals 2024 motorsports activity plan

Yokohama said participation in motorsports activities is crucial to its efforts to strengthen the Advan and GeoLandar brands.

Yokohama-Nitrocross

Yokohama Rubber revealed its motorsports activity plan for 2024. The company said participation in motorsports activities is crucial to its efforts to strengthen the Advan and GeoLandar brands and is again participating in a wide variety of motorsports events around the globe, from top-category to grassroots events.

Yokohama Rubber will again supply its Advan tires to many teams participating in motorsports events, such as Japan’s Super GT, the Nürburgring 24-Hour Race and the Pikes Peak International Hill Climb. Yokohama Rubber’s GeoLandar tires will be supplied to teams participating in off-road races in North America and Asia, including the Baja 1000, King of the Hammers, the Mint 400 and the Asia Cross Country Rally.

TIA’s Advanced Farm Tire Service training to take place in June

The training class for technicians in the agricultural and farm tire industries is set to take place June 11-14.

TIA_training-
Maxxis-sponsored athletes make podium, overall top 10 at Mint 400

Maxxis athletes Michael McFayden, Ethan Ebert and Trey Gibbs had podium finishes at the Mint 400 on Maxxis RAZR XT tires.

2024-mint400-maxxis
Sun Auto Tire reveals winner of Ford Bronco Sport giveaway

Lowell Anderson entered the giveaway at his local Sun Auto Tire & Service store while receiving a routine oil change.

Sun-Auto-Bronco-giveaway
Nokian Tyres holds bracket challenge on worst roads in North America

In 2023, the tiremaker’s audience voted Quebec as the province or state with the worst road conditions on the continent.

Pothole-Protection-from-Nokian-Tyres

Other Posts

Gallery: 2024 Big O Tires conference and convention

Highlights from this year’s Big O Tires conference and convention, featuring a general session, trade show and breakout sessions.

Gary-Skidmore
Bridgestone’s Firestone Liberia rubber farm receives ISCC Plus recognition

According to Bridgestone, its Liberia facility earned the ISCC Plus certification for its efforts in reducing environmental impacts.

Firestone_Liberia
Ascenso Tires adds new OEM sales manager

Douglas Duesing has more than ten years of experience working in agriculture, construction and mining OEMs.

Ascenso-Douglas-Duesing-1400
Nexen Tire Motorsports drivers earn top placements at King of the Hammers

Nexen Tire Motorsports partnered with drivers across a variety of racing series both on- and off-road, including King of the Hammers.

Nexen-KOH