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Acquisition expands Bridgestone’s global mining solutions business in key markets such as Australia, Chile and South Africa. Otraco’s extensive service network and world-class tire solutions portfolio will strengthen the way OTR customers are served by Bridgestone worldwide. The transaction is targeted for completion by the end of 2021. Bridgestone Corporation (Bridgestone) has this week announced that its group company Bridgestone Mining Solutions Australia Pty. Ltd., has entered an agreement to acquire Otraco International Pty Ltd (Otraco), a leader in Off-the-Road (OTR) tire management solutions, from Downer EDI Limited. This acquisition will accelerate the growth of Bridgestone’s global mining solutions business and expand the company’s service network in key markets such as Australia, Chile and South Africa. ....
Bridgestone Acquires Otraco for $61.7M SHARE April 26, 2021 Bridgestone Corp. announced that its group company Bridgestone Mining Solutions Australia has entered an agreement to acquire Otraco International from Downer EDI Limited. This acquisition will complement Bridgestone’s global mining solutions business and expand the company’s service network in Australia, Chile, and South Africa. All business assets, including Otraco’s sales offices and training facilities, OTR customer relationships, and the company’s approximately 860 employees will transfer to Bridgestone upon completion of the sale. The transaction, valued at $61.7 million, is expected to close by the end of 2021. The sale is subject to regulatory approvals and other customary closing conditions. ....
Advertisement Bridgestone Corporation has announced that its group company, Bridgestone Mining Solutions Australia Pty Ltd, has entered an agreement to acquire Otraco International Pty Ltd, a leader in off-the-road (OTR) tyre management solutions, from Downer EDI Limited. This acquisition will accelerate the growth of Bridgestone’s global mining solutions business and expand the company’s service network in key markets such as Australia, Chile, and South Africa. All business assets, including Otraco’s sales offices and training facilities, OTR customer relationships and the company’s approximately 860 employees will transfer to Bridgestone upon completion of the sale. The transaction, valued at AUS$79 million (approximately ¥6.6 billion), is expected to close by the end of 2021. The sale is subject to regulatory approvals and other customary closing conditions. The impact of this acquisition on Bridgestone’s consolidated financial results for 2021 will be mi ....
Bridgestone expands mining portfolio with acquisition of Otraco | Tire Technology International tiretechnologyinternational.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tiretechnologyinternational.com Daily Mail and Mail on Sunday newspapers.
Downer (ASX:DOW) moves further away from mining with sale of Otraco SubscribeBe the first with the news that moves the market Integrated services provider Downer (DOW) has taken another step under its Urban Services strategy with the $79 million sale of Otraco to Bridgestone The sale is part of the company s decision to exit the capital-intensive mining sector and focus on more core industries like transport and utilities The completion of the sale, which remains subject to regulatory approval, is expected to occur before the end of this year So far, the proceeds from the sale of Downer s businesses amounts to $605 million, of which $476 million has already been received ....