Bridgestone Announces Strategic Growth Investments Based on Mid-Term Business Plan Acquiring Otraco OTR Tyre Management Solutions Business from Downer

Scan_Pay_Advertise_iloveza.com_2022

Bridgestone Corporation (Bridgestone) today announced that its group company Bridgestone Mining Solutions Australia Pty. Ltd., has entered an agreement to acquire Otraco International Pty Ltd (Otraco), a leader in Off-the-Road (OTR) tire management solutions, from Downer EDI Limited. This acquisition will accelerate the growth of Bridgestone’s 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. JPY 6.6 billion*1), 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.

As outlined in the company’s Mid-Term Business Plan*2, Bridgestone is strengthening investments in its core tire business while also pursuing M&A activities that expand and enhance its sustainable solutions offering. Bridgestone is moving swiftly to deliver sustainable mobility and advanced solutions that create value for customers and society.

“Today we are announcing another significant step in our ongoing solutions journey,” said Masahiro Higashi, Global COO and Representative Executive Officer, Bridgestone Corporation. “Acquiring Otraco will allow us to quickly expand our mining solutions business in key markets and create growth opportunities with existing mining customers. Otraco has an extensive service network built on strong customer relationships and we are excited for their team of experts to join Bridgestone.”

Otraco offers a robust portfolio of OTR tire management solutions that track tires across the full lifecycle, such as its computerized Otracom platform. Otraco’s offering will complement Bridgestone’s world-class OTR products and solutions, including Bridgestone MasterCore*3 surface mining tires and the tire monitoring and management solution.

  1. Translated at a rate of AUD 1 to JPY 84
  2. Click here for information of the Bridgestone Group's Mid-Term Business Plan.
  3. Click here for information of the Bridgestone MasterCore.

About Bridgestone Corporation:

Bridgestone Corporation, headquartered in Tokyo, is a global company focused on delivering advanced mobility and solutions to customers around the world. In addition to tires and solutions for use in a wide variety of automotive and mobility applications, it also manufactures a broad range of diversified products, which include industrial rubber and chemical products and sporting goods. Bridgestone products are sold in over 150 nations and territories around the world.

iloveza.com is an award-winning Digital Media, Marketing, and Advertising Company est. 2015, is a Member of the Independent Media Association of South Africa (IMASA), and Brand South Africa's Play Your Part Ambassadors, with a global reach of over 10 million

E-mail howzit@iloveza.com to take your brand/business to the next level

Like What You've Read ? Be an Anonymous Angel 
CLICK HERE for the latest Tech News
CLICK HERE for the latest News & Trends
Follow @letstorqueza
 
Keep up to date with all that is happening in South Africa
Subscribe to our Newsletter

Follow @ilovezacom on
 #iloveza❤️🇿🇦 #AfterFajrGrind

iloveza.com Accolades:

2021 Winner of Brand South Africa's Nation Pride Play Your Part Award

2018 Winner of Tech Savvy Boss Award at the Roshgold Young Business Achiever Award
 

Nabihah Plaatjes Accolades:

2023 CEO of the Independent Media Association of South Africa (IMASA)

2018 Contributing Author to SAFFRON: A Collection of Personal Narratives

2017 Recipient of Owami Women & Brand South Africa's Play Your Part Award


Ziyaad Plaatjes Accolades:

2021 Mail & Guardian Top 200 Young South Africans: Arts, Entertainment, Film & Media 

2020 Contributing Author to There's a Story in Everyone


Trending Posts