The latest Bridgestone acquisition has expanded the company’s global mining solutions capabilities into core markets such as Australia, Chile and South Africa. Combining Otraco’s extensive service network, with Bridgestone’s tyre portfolio strengthens Bridgestone’s ability to supply OTR customers worldwide, especially as Otraco solutions include tracking tyres throughout their lifecycle via the computer-aided Otracom platform, as well as management solutions for its clients.
Bridgestone Enters into Agreement to Acquire Otraco from Downer
With the agreement set to be finalised in 2021, it’s full-steam-ahead for Bridgestone to extend its operations in some of the largest mining industries worldwide. Otraco has confirmed in the agreement a full transfer of its sales offices, training facilities, current OTR customer relationships and their 860 employees to Bridgestone, with the deal estimated to be around AUD 79 million (EUR 50.8 million).
Bridgestone Continues to Invest in Sustainable Mining and Agriculture Solutions
Bridgestone is continuing to invest heavily in its core tyre business, however, Bridgestone has branched out into sustainable solutions to add social value and customer benefits to their clients.
"This acquisition marks another significant step in our global mining solutions business," said Masahiro Higashi, Global COO and Representative Executive Officer, Bridgestone Corporation. “The acquisition of Otraco will allow us to rapidly expand our mining solutions business in key markets and create growth opportunities with existing mining customers. Otraco has an extensive service network built on strong customer relationships and we are delighted that their team of experts is joining Bridgestone."