Sailun acquiring Bridgestone’s TBR tire plant in China

Shanghai, China – Sailun Group subsidiary Sailun (Shenyang) Tire Co. has entered a deal to acquire 100% equity in Bridgestone’s truck & bus tire manufacturing plant in Shenyang for Yuan265 million (€31 million).

The agreement was approved at Sailun’s 26th Board meeting on 14 July and does not require shareholder approval.

The 10-year-old facility was idled at the end of 2023 as Bridgestone exited the TBR business in China.

The unit, according to Sailun, has an annual capacity of 1.7 million radial truck and bus tires and features 394,900 sq.m. of land and 200,700 sq.m. of buildings.

Sailun said the acquisition will help it meet domestic and international market demand and enhance its competitiveness.

After closing, the company plans to adjust the plant’s management and make use of the land, buildings, and equipment for new projects aligned with its strategy.

In audited results for 2024, Bridgestone (Shenyang) reported operating income of Yuan140.8 million and a net loss of Yuan479.55 million.

Under the agreement, closing will take place no later than 30 Sept, with full payment on delivery.

The company said the deal will not disrupt existing operations or have a major impact on its annual financial performance.