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Based in Japan, Bridgestone Corporation is the world’s largest tyre and rubber company.

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Bridgestone investing in US plant expansion

A planned expansion of a Bridgestone passenger car tyre plant in the USA will help the company respond to increasing global demand for higher rim size tyres, the company says. The Wilson manufacturing facility in North Carolina will be expanded as part of a five-year, US$164 million investment to meet market demands and to invest in newer and more efficient technology. Work on the multi-phase expansion of the 42-year-old facility is expected to commence in early 2016.

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  1. Bridgestone breaks ground on Wilson plant expansion
  2. Bridgestone expanding truck/bus tyre capacity at Warren County, USA plant
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Bridgestone receives payout as Pep Boys deal dies

The merger agreement signed between Bridgestone Retail Operations and The Pep Boys – Manny, Moe & Jack in October 2015 has been terminated, and in its place the US automotive service and retail chain has signed a definitive agreement under which Icahn Enterprises will acquire Pep Boys for US$18.50 per share in cash. Simultaneous with the demise of the Bridgestone agreement, Icahn Enterprises, on behalf of Pep Boys, paid Bridgestone a $39.5 million termination fee

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Related news:

  1. Icahn offer would result in ‘Superior Offer’, says Pep Boys board
  2. Pep Boys to Bridgestone: New deal or no deal
  3. Pep Boys bidding battle – Bridgestone throws in the towel
  4. Bridgestone matches Icahn’s Pep Boys offer
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Stuart Jackson joins Bridgestone

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Former Apollo Vredestein UK managing director Stuart Jackson has joined Bridgestone’s north region senior management team as business development director. Jackson will work in support of all departments in the UK and Ireland as well as the Nordic countries of Finland, Denmark, Sweden, Iceland and Norway and will manage the delivery of a number of key projects as part of a “continued process to transform the sales and profitability of the business”.

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US tyre makers urge climate change action

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In a statement issued on 29 December 2015, the heads of five major North American tyre manufacturers called for the US government to not only meet the commitments it made in the recent Paris climate change talks, but to “use its economic might to drive strengthened commitments over time and follow through from other countries around the globe.”

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Pep Boys bidding battle – Bridgestone throws in the towel

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During the closing days of last year, Bridgestone Americas announced that the Bridgestone Retail Operations subsidiary would not counter bid the latest bid from Icahn Enterprises to acquire The Pep Boys – Manny, Moe & Jack. This meant a Happy New Year for Carl Icahn, who now looks set to add the brand and the 800+ Pep Boys outlets to his portfolio.

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Related news:

  1. Icahn offer would result in ‘Superior Offer’, says Pep Boys board
  2. Pep Boys to Bridgestone: New deal or no deal
  3. Bridgestone receives payout as Pep Boys deal dies
  4. Icahn offers counterbid for Pep Boys
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Icahn returns with higher Pep Boys offer

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The bidding war for The Pep Boys – Manny, Moe & Jack has entered a new round, with Icahn Enterprises L.P. offering an extra dollar per share to acquire the US automotive aftermarket retail and service network – a total of around US$56 million more than the offer it made earlier this month. This higher figure has found favour with the Pep Boys Board of Directors – after consultation with legal and financial advisors it determined on 20 December that Icahn’s proposal to acquire Pep Boys for US$16.50 per share in cash constitutes a ‘Superior Proposal’.

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Related news:

  1. Bridgestone matches Icahn’s Pep Boys offer
  2. Icahn offers counterbid for Pep Boys
  3. Pep Boys to Bridgestone: New deal or no deal
  4. Pep Boys bidding battle – Bridgestone throws in the towel
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Bridgestone matches Icahn’s Pep Boys offer

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After determining the US$15.50 per share merger agreement proposed by Icahn Enterprises superior to Bridgestone’s $15.00 a share deal, The Pep Boys – Manny, Moe & Jack gave the tyre maker until 5:00pm (EST) last Friday to return with new and more attractive merger terms. Bridgestone Retail Operations (BSRO) did just that, and the two parties have now amended the terms of the merger agreement originally signed on 26 October.

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Related news:

  1. Icahn returns with higher Pep Boys offer
  2. Icahn offer would result in ‘Superior Offer’, says Pep Boys board
  3. Pep Boys to Bridgestone: New deal or no deal
  4. Pep Boys bidding battle – Bridgestone throws in the towel
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Dedicated brand managers join Bridgestone, Firestone teams

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The sales and marketing teams at Bridgestone and Firestone have been strengthened by the arrival of two dedicated brand managers. Peter Coleman and Stuart Attfield join the two respective teams and in doing so supplement a strengthened salesforce and pricing department. Both report to consumer marketing manager Wim Belckx and sales and marketing director Farrell Dolan.

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  • Read our sector-leading articles in full
  • Full analysis of tyre business segments
  • Read Tyres & Accessories magazine online/in print

Already a member? Log in here

Related news:

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Pep Boys to Bridgestone: New deal or no deal

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The Board of Directors at US automotive aftermarket retailer The Pep Boys – Manny, Moe & Jack has declared the US$15.50 per share merger agreement received by Icahn Enterprises superior to the $835 million Bridgestone Retail Operations was prepared to pay, not least because it isn’t subject to due diligence or financing conditions, and it contains a ‘hell or high water’ anti-trust covenant. Pep Boys have now lobbed the ball back into Bridgestone’s court, and the tyre maker has two days to come back with a better offer.

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Related news:

  1. Icahn offer would result in ‘Superior Offer’, says Pep Boys board
  2. Pep Boys bidding battle – Bridgestone throws in the towel
  3. Bridgestone receives payout as Pep Boys deal dies
  4. Icahn returns with higher Pep Boys offer
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Icahn offer would result in ‘Superior Offer’, says Pep Boys board

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US automotive aftermarket chain The Pep Boys – Manny, Moe & Jack gives word that its Board of Directors have determined the proposal from Icahn Enterprises L.P. to acquire Pep Boys for US$15.50 per share in cash would be expected to result in a “Superior Proposal” (as defined in the company’s agreement and plan of merger with Bridgestone Retail Operations, LLC). This opinion was reached after consultation with the company’s independent legal and financial advisors, however at this stage Pep Boys are still on track to take up the Bridgestone share offer.

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Related news:

  1. Pep Boys to Bridgestone: New deal or no deal
  2. Pep Boys bidding battle – Bridgestone throws in the towel
  3. Bridgestone receives payout as Pep Boys deal dies
  4. Icahn offers counterbid for Pep Boys
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Steinmetz Bridgestone Americas’ new HR chief

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As of 7 December, Jan Steinmetz has taken over as chief human resources officer at Bridgestone Americas. He succeeds Christine Karbowiak, who held the position since February in addition to her roles as the company’s chief administrative officer and chief risk officer. Steinmetz will lead the company’s international human resource programming for nearly 55,000 employees, and is located at Bridgestone’s Nashville-based Americas Support Center and headquarters.

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Firestone introduces on/off range, extends on-road portfolio

A new line-up of Firestone tyres designed for both on- and off-road use aims to provide users with high levels of durability, long wear life and good grip over a wide range of tough terrain. Upon introducing its FS822 Steer, FD833 Drive and FT833 Trailer tyres, Bridgestone Europe says the trio “bring Firestone’s renowned no-nonsense, cost-effective approach to the on/off segment.”

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Icahn offers counterbid for Pep Boys

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Bridgestone Americas’ cash tender offer to acquire US automotive service and retail chain The Pep Boys – Manny, Moe & Jack for US$15.00 a share has been challenged by Icahn Enterprises L.P. The New York-based master limited partnership and owner of automotive aftermarket distributor Auto Plus has written to the Pep Boys’ board, proposing to pay a cash sum of $15.50 per share to acquire the entire outstanding stake in the company – an offer it believes “clearly superior” to the Bridgestone transaction.

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Related news:

  1. Icahn offer would result in ‘Superior Offer’, says Pep Boys board
  2. Pep Boys to Bridgestone: New deal or no deal
  3. Bridgestone matches Icahn’s Pep Boys offer
  4. Icahn returns with higher Pep Boys offer
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Bridgestone CEO accepts Thai investment advisor position

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The chief executive officer and chairman of the board at Bridgestone Corporation, Masaaki Tsuya, has been appointed honorary investment advisor to the Thailand Board of Investment (BOI). The role was established last month with the purpose of assisting the BOI in promoting Thailand as an attractive investment destination both in Southeast Asia and throughout the world.

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Bridgestone extends British motocross partnership

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Bridgestone has signed a new deal with the British Schoolboy Motorcycle Association (BSMA), making the tyre manufacturer the title sponsor of the Bridgestone BSMA National Series 2016. The new agreement means Bridgestone will complete a third successive year of involvement with the category, formerly known as a BSMA Clubman’s Series. The tyre giant adds that “massive improvements” are already planned for the youth series.

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