News from Notch Consulting, Inc.

February 2, 2010

Bridgestone Sells Steel Cord Plants in Italy and China to Bekaert

Filed under: General, Tire Cord, Tires — Notch @ 9:13 pm

On Monday, Bridgestone Corporation announced a definitive agreement to sell 100% of the shares of its Italian and Chinese steel cord manufacturing subsidiaries to Belgian-based NV Bekaert SA. The two businesses to be sold are Bridgestone Metalpha Italia S.p.A. (BMI) and Bridgestone (Huizhou) Steel Cord Co., LTD. (BSSH). As part of this transaction, Bridgestone has entered into a long-term tire cord supply agreement with Bekaert to ensure a stable supply of cord. The sale will be completed once the necessary governmental and regulatory approvals are received.

Bridgestone is one of the most vertically integrated companies in the tire industry, internally producing many of the raw and intermediate materials used in tire manufacturing. Prior to the announced sale, Bridgestone operated seven steel cord plants, located in the US, Italy, Thailand, Huizhou and Shenyang in China, and Kuroiso and Saga in Japan.

Here is the press release.

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