Bridgestone Finalizes $3.4 Billion Building Products Sale
Bridgestone Americas Inc. has finalized sale of its Firestone Building Products unit to Holcim Participations (US) Inc. for $3.4 billion.
The transaction "will advance Bridgestone’s efforts to deliver value to customers and society as a global leader providing tires and advanced mobility
solutions," say company officials.
“The completion of this sale is an important milestone on Bridgestone’s journey to become a sustainable solutions company,” says Paolo Ferrari, president, CEO and COO of Bridgestone Americas. “We are taking action to reshape our portfolio so that we can invest our resources to strengthen Bridgestone’s growing core tire business and quickly expand our mobility solutions offering.”
The divestiture of Firestone Building Products supports Bridgestone’s Mid-Long Term Business Strategy.
“This divestiture will allow Bridgestone to further rebuild our earning power as we progress in our journey to become a sustainable solutions company that delivers customer and social value,” says Shuichi Ishibashi, global CEO, Bridgestone Corp.