Bridgestone buys Goodyear's final rubber estate

Tokyo--Bridgestone Corp. has announced that it has agreed in principle to purchase The Goodyear Tire & Rubber Company's 95 percent stake in Goodyear Sumatra Plantations (GSP). Terms of the pending purchase were not disclosed.

In a statement, Bridgestone said, GSP, which began operations in 1917, is one of the largest natural rubber estates in North Sumatra Indonesia. Its activities include the planting, growing, tapping and processing of natural rubber. GSP has approximately 18 000 total hectares (47 000 total acres) with approximately 5 000 employees.

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Press release from Bridgestone