Bridgestone divesting 2 further non-tyre businesses

In statements published today, Bridgestone Corporation announced the intention to sell its anti-vibration rubber and chemical products solutions businesses. The company expects the respective deals will close by the end of July and end of August 2022.

To divest its anti-vibration rubber business, Bridgestone will establish a wholly owned subsidiary as a successor to this business and then transfer all ownership of the anti-vibration business to this new company. It will then sell all shares in the new company to China’s Anhui Zhongding Holding (Group).

The selling process for the chemical products solutions business will follow a similar trajectory. Again, Bridgestone will establish a wholly owned subsidiary. Then it will transfer all ownership of the chemical products solutions business to this new company prior to selling all shares to Endeavour United II Business Limited Partnership, a private equity fund managed by Japan’s Endeavour United. Bridgestone will additionally sell the fund all stocks in Bridgestone Precision Molding Philippines Inc. at a later date.

Bridgestone comments that both transactions form part of the restructuring measures set out in its Mid Term Business Plan (2021-2023).