NASHVILLE, Tenn., May 23, 2016 /PRNewswire/ -- Bridgestone Americas announced today that it has reached an agreement to divest its business in Venezuela, Bridgestone Firestone Venezolana C.A. (BFVZ), to the Corimon Group.
This divestiture follows BFVZ deconsolidation in the third quarter of 2015, and a strategic decision to prioritize Bridgestone's growth and investment in other Latin American markets.
Due to the fact that the Venezuela operations were deconsolidated from Bridgestone Americas last year, this divestiture will have no financial impact on the company.
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.
About Bridgestone Americas, Inc.:
Nashville, Tennessee-based Bridgestone Americas, Inc. (BSAM) is the U.S. subsidiary of Bridgestone Corporation, the world's largest tire and rubber company. BSAM and its subsidiaries develop, manufacture and market a wide range of Bridgestone, Firestone and associate brand tires to address the needs of a broad range of customers, including consumers, automotive and commercial vehicle original equipment manufacturers, and those in the agricultural, forestry and mining industries. The companies are also engaged in retreading operations throughout the Western Hemisphere and produce air springs, roofing materials, and industrial fibers and textiles. The BSAM family of companies also operates the world's largest chain of automotive tire and service centers. Guided by its One Team, One Planet message, the company is dedicated to achieving a positive environmental impact in all of the communities it calls home.
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SOURCE Bridgestone Americas, Inc.