Bridgestone Corp. (TYO:5108) has completed its acquisition of Azuga Holdings Inc., a U.S.-based provider of fleet management solutions. The tire manufacturer has already received regulatory approval and carried out the relevant proceedings for this deal. Azuga has been valued here at $391 million, with adjustments then being made based on its working capital and the like to get the total...
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Bridgestone Corp. (TYO:5108) announced on June 15 that it will be selling off all of its shares in Bridgestone (Huizhou) Synthetic Rubber Co. Ltd. (BSRC), a Chinese group company that manufactures and sells synthetic rubber for use in automotive tires. These shares will be sold to LCY Chemical Corp., which runs global operations for materials and chemicals. Located in Huizhou,...
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Goodyear Tire & Rubber Co. recently announced that it has completed its acquisition of Cooper Tire & Rubber Co., fulfilling an agreement first announced on Feb. 22. The acquisition will combine Goodyear’s strengths in OE tires and high-quality replacement tires with Cooper’s excellent product lineup in the pickup truck and SUV segment. As a result, the move is set to...
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Trinseo SA, a manufacturer of plastics, latex binders and synthetic rubber, has announced a definitive agreement to sell its synthetic rubber business to Polish company Synthos SA. Based in Schkopau, Germany, Trinseo’s synthetic rubber business has been valued at approximately $491 million. After subtracting pension liabilities, transaction-related costs and taxes, the net cash proceeds from the sale are expected to...
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Yokohama Rubber Co. Ltd.’s (TYO:5101) European headquarters, Yokohama Europe GmbH, has concluded a contract to acquire all shares of ITR CEE Spolka z.o.o., a wholesale distributor engaged in the import and sale of Yokohama tires in central and eastern Europe. Once the transfer of shares is complete, the Polish company’s name will be changed to Yokohama CEE Społka z.o.o. Yokohama...
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Leading synthetic rubber manufacturer JSR Corp. (TYO:4185) has announced plans to transfer its elastomers business to Eneos Corp. Due to be completed on April 1, 2022, the deal here will be based on a valuation of 115 billion yen ($1.05 billion). Commenting on the deal, JSR CEO Eric Johnson acknowledged that elastomers have been a core business for JSR since...
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