Bridgestone sells synthetic rubber plant in China

On June 15th, Bridgestone announced that it had reached an agreement with LCY Chemicals, deciding to sell all the shares of its subsidiary Bridgestone (Huizhou) Synthetic Rubber Co., Ltd. (BSRC), which produces synthetic rubber in China, to Li Changrong Chemical Company ( LCY Chemical Corporation), the transaction value was not disclosed.

It is reported that BSRC's sales in 2020 will reach 399 million yuan, and the transaction is scheduled to be completed before December 14 this year.

Bridgestone said that after selling BSRC to LCY, BSRC can form new synergies with LCY, do better in materials and chemicals business, and can provide higher social value and customer value.

It is reported that Bridgestone's raw material manufacturing, tire R&D and production, sales and service and other businesses will undergo comprehensive reforms to achieve global optimization of tire business. Moreover, this is also Bridgestone's response to the turbulent external environment.