Bridgestone: Sale of Firestone Building Products completed

Bridgestone Corporation reports that its Bridgestone Americas, Inc. subsidiary has completed the sale of Firestone Building Products to Holcim Participations (US) Inc, a subsidiary of LafargeHolcim Ltd. (LafargeHolcim). According to the Japanese company, the US$3.4 billion transaction will “advance Bridgestone’s efforts to deliver value to customers and society as a global leader providing tyres and advanced mobility solutions.”

“The completion of this sale is an important milestone on Bridgestone’s journey to become a sustainable solutions company,” said Paolo Ferrari, president, chief executive officer and chief operating officer of Bridgestone Americas. “We are taking action to reshape our portfolio so that we can invest our resources to strengthen Bridgestone’s growing core tyre business and quickly expand our mobility solutions offering.”

The divestiture of Firestone Building Products supports Bridgestone’s Mid-Long Term Business Strategy. By focusing its business footprint to maximise the strengths of its core tyre business, Bridgestone aims to evolve into “a sustainable solutions company that supports the mobility and movement of people and goods around the world.”

“This divestiture will allow Bridgestone to further rebuild our earning power as we progress in our journey to become a sustainable solutions company that delivers customer and social value,” said Shuichi Ishibashi, global chief executive officer and representative rxecutive officer, Bridgestone Corporation. “It also will enable Firestone Building Products to deliver on its strategic growth plans as part of the LafargeHolcim family. We believe this is a positive step that will deliver a more sustainable future for all.”