Bridgestone Completes Sale of Firestone Building Products to LafargeHolcim
- Announced in January 2021, sale is complete following regulatory approvals and customary closing conditions.
- Transaction enables Bridgestone to strengthen investments in core tire business and rapidly advance mobility solutions journey.
- Firestone Building Products employees have successfully transitioned to LafargeHolcim and will remain based in Nashville.
NASHVILLE, Tenn., April 1, 2021 /PRNewswire/ -- Bridgestone Americas, Inc., a subsidiary of Bridgestone Corporation, has completed the sale of Firestone Building Products to Holcim Participations (US) Inc, a subsidiary of LafargeHolcim Ltd. (LafargeHolcim). The transaction, valued at USD $3.4 billion, will advance Bridgestone's efforts to deliver value to customers and society as a global leader providing tires and advanced mobility solutions.
"The completion of this sale is an important milestone on Bridgestone's journey to become a sustainable solutions company," said Paolo Ferrari, president, CEO & COO of Bridgestone Americas. "We are taking action to reshape our portfolio so that we can invest our resources to strengthen Bridgestone's growing core tire business and quickly expand our mobility solutions offering."
The divestiture of Firestone Building Products supports Bridgestone's Mid-Long Term Business Strategy. By focusing its business footprint to maximize the strengths of its core tire business, Bridgestone is evolving into a sustainable solutions company that supports the mobility and movement of people and goods around the world.
"This divestiture will allow Bridgestone to further rebuild our earning power as we progress in our journey to become a sustainable solutions company that delivers customer and social value," said Shuichi Ishibashi, Global CEO and Representative Executive Officer, Bridgestone Corporation. "It also will enable Firestone Building Products to deliver on its strategic growth plans as part of the LafargeHolcim family. We believe this is a positive step that will deliver a more sustainable future for all."
In addition to advancing Bridgestone's Mid-Long Term Business Strategy, the sale to LafargeHolcim positions Firestone Building Products, a leader in commercial roofing and building envelope solutions, for continued growth and success. Both Firestone Building Products and LafargeHolcim serve commercial building customers and have a shared focus on delivering innovative and sustainable building solutions. Firestone Building Products employees have successfully transitioned to LafargeHolcim and will remain based in Nashville.
For more Bridgestone news and information, visit BridgestoneAmericas.com.
About Bridgestone Americas, Inc.:
Nashville, Tennessee-based Bridgestone Americas, Inc. is a subsidiary of Bridgestone Corporation, a global leader providing sustainable mobility and advanced solutions. Bridgestone Americas develops, manufactures, and markets a diverse portfolio of original equipment and replacement tires, tire-centric solutions, mobility solutions, and other rubber-associated and diversified products that deliver social value and customer value. Guided by its global corporate social responsibility commitment, Our Way to Serve, Bridgestone is dedicated to shaping a sustainable future of mobility and improving the way people move, live, work and play.
SOURCE Bridgestone Americas, Inc.
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