Bekaert completes acquisition of Bridgestone tire cord units

Brussels – Bekaert has completed the €60-million acquisition of Bridgestone’s tire reinforcement businesses in China and Thailand, the company announced 1 May.

The deal, announced in January (ERJ report), includes the tire cord production facilities in China (Bridgestone (Shenyang) Steel Cord Co., Ltd.) and Thailand (Bridgestone Metalpha (Thailand) Co. Ltd.), that manufacture tire cord products for Bridgestone tires.

The purchase, said Bekaert, further strengthens “the long-standing strategic partnership” with Bridgestone as the acquired operations will continue to supply the tire maker.

Bekaert anticipates the purchase to add €80 million in overall annual sales.

“Our immediate focus is on a smooth transition and operational continuity, while continuing to serve Bridgestone as a key strategic partner,” said Curd Vandekerckhove, CEO Rubber Reinforcement.

The completion of the acquisition, said Vandekerckhove, further strengthens the position of Bekaert in the tire cord market and expands its global manufacturing footprint.

A ‘long-term supply agreement’ with Bridgestone further deepens the partnership between the two companies, he added.