New owner for Bridgestone (Huizhou) Synthetic Rubber

As of 1 December, Bridgestone Corporation has completed selling all shares in its Bridgestone (Huizhou) Synthetic Rubber Co., Ltd. subsidiary. The new owner of the business, which manufactures synthetic rubber for passenger car tyres, is Taiwan’s LCY Chemical Corporation. Bridgestone announced the planned sale on 15 June 2021.

The divestment of Bridgestone (Huizhou) Synthetic Rubber is in line with measures set out in the global expense and cost structure review that forms part of Bridgestone’s Mid Term Business Plan (2021-2023). The plan was released on 16 February 2021, and Bridgestone says its aim is to strengthen business portfolio management, allowing the company to quickly adapt to changing business conditions, while rebuilding earning power within its core tyre business by reforming expense and cost structure, prioritising a premium business strategy and making strategic growth investments.