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By TT News| Jun 18, 2021

Bridgestone to Sell Its Chinese Subsidiary to LYC Chemical Corporation

Bridgestone will sell its Chinese subsidiary, Bridgestone (Huizhou) Synthetic Rubber Company (BSRC), to LCY Chemical Corporation, a company which operates in the material and chemical industry globally. The sales value has not been disclosed yet.

The move is part of its cost structure reformation on all regions and business areas as part of Bridgestone’s Mid Term business plan (2021-2023) and all the shares of the stock are scheduled to be sold to LCY before 14 December, 2021. 

BSRC manufactures synthetic rubber for passenger car tyres and had a sale of CNY 399 million as of December 2020. The Japanese tyre manufacturer also reports that the recent business had been volatile and uncertain and hence the restructuring study was conducted so that all the beneficiaries could make sustainable growth. (TT)

 

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