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Bridgestone Sells Its Subsidiary in Venezuela

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Bridgestone Americas Inc. has reached an agreement to divest its business in Venezuela, Bridgestone Firestone Venezolana C.A. (BFVZ), to the Corimon Group.

This divestiture follows the deconsolidation of BFVZ in the third quarter of 2015, and the tire maker's "strategic decision to prioritize Bridgestone’s growth and investment in other Latin American markets," the company says in a press release.

Because the Venezuela operations were deconsolidated from Bridgestone Americas last year, this "will have no financial impact on the company," the company says.

"Bridgestone is proud of the 62 years it served the Venezuelan people and wishes the best of success to the new owners of the company and to employees as they begin this next phase under new management."

Bridgestone Firestone Venezolana C.A. will now become Alice Neumáticos de Venezuela, a company managed by the Corimon Group.

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