Bridgestone sold two cord plants

After fulfilling all conditions and obtaining permits from regulatory bodies, Bekaert has completed the purchase of Bridgestone's tire cord factories in China (Bridgestone (Shenyang) Steel Cord Co., Ltd.) and Thailand (Bridgestone Metalpha (Thailand) Co., Ltd.), the company, which is one of the world's leading metal cord manufacturers, reported.

The acquired enterprises will continue to supply products to Bridgestone's tire plants, and Bekaert emphasizes that in the future, the companies will further expand their strategic partnership.

The acquisition of new assets is expected to increase Bekaert's consolidated revenue by 80 million euros per year. The deal amount was around 60 million euros, and the financing was carried out using Bekaert's own funds.

According to Koen Van den Steen, head of Bekaert's reinforcing materials division, the company will now focus on ensuring the smooth operation of the acquired enterprises during the transition period, while also continuing to meet the needs of Bridgestone as a key strategic partner.

"The completion of the deal will further strengthen Bekaert's position in the global tire cord market, increase our production capacity, and expand our long-standing cooperation with Bridgestone," he said. "The signed long-term agreement guarantees the stability of supplies of high-quality reinforcing materials for the production of Bridgestone tires in the future."