Bridgestone pulls out of several China projects

Several Bridgestone-related companies in China have changed their industrial and commercial registration information recently. Indeed, the changes suggest Bridgestone has pulled out of several non-tyre projects in the People’s Republic

On 8 July, the name of Bridgestone (Changzhou) Auto Parts Co., Ltd. was changed to Prospira (Changzhou) Auto Parts Co., Ltd. Earlier, on 13 June, the company’s investor changed from Bridgestone (China) Chemicals Investment Co., Ltd. to Prospira Corporation. This company is engaged in producing and selling shock-proof parts for automobiles. It is reported that this information change is related to Zhongding. As early as November 2021, Zhongding Group stated that it was preparing to acquire Bridgestone’s shock absorption business with its funds. Recently, Zhongding revealed that it is advancing the acquisition of Bridgestone-related companies as planned.

The shareholder information of Bridgestone (Wuhan) Chemical Products and Bridgestone (Kaiping) High-Performance Products changed on 4 July and 15 July respectively. Bridgestone is no longer a shareholder in the two factories. According to Chinese media reports, the information changes in these two companies are related to the Japanese investment fund Endeavour United.

Meanwhile, Bridgestone (Huizhou) Synthetic Rubber’s registration information changed earlier. In November 2021, LCY (Huizhou) High-tech Materials became the company’s new name and altered the legal representative and senior management’s filing information. LCY Chemical is a Taiwanese company.

In addition, on 29 June, the legal representative of Bridgestone (Wuxi) Tire Co., Ltd. was changed from Yahagi Masashi to Yokoyama Tomoyasu.