Bridgestone completes sale of Chinese SR business 

Tokyo - Bridgestone Corp. has completed the sale of its China-based synthetic rubber business – Bridgestone (Huizhou) Synthetic Rubber Co. (BSRC) – to Taipei-based materials and chemicals supplier LCY Corp. 

The transaction, the amount of which was not disclosed, completed on 1 Dec, two weeks earlier than previously expected, Bridgestone said in a statement.

The Japanese group announced its decision to sell the unit in June, as part of its ongoing portfolio restructuring and mid term business plan (2021-2023) aimed at strengthening earning power. 

At the time, the group said it believed the sale would help it optimise its ‘core’ tire operations under the recent ‘volatile and uncertain’ business environment.

BSRC has one synthetic rubber production plant in Huizhou, Guangdong Province and posted sales of Yuan399 million (€51 million) in 2020. 

Operational since late 2008, the plant manufactures 50 kilotonnes per annum of styrene butadiene rubber, and supplies to Bridgestone's tire production factories in China. 

Through the sale, Bridgestone expects BSRC to “make new synergy with LCY” and maximise growth, given the Taiwanese company’s “excellent expertise for materials and chemicals business.”

Bridgestone unveiled its mid-term business plan in February, contributing to a bigger 10-year strategy to evolve into a "sustainable solutions company."