Bridgestone Corporation reports that its Bridgestone Americas, Inc. subsidiary has completed the sale of Firestone Building Products to Holcim Participations (US) Inc, a subsidiary of LafargeHolcim Ltd. (LafargeHolcim). According to the Japanese company, the US$3.4 billion transaction will “advance Bridgestone’s efforts to deliver value to customers and society as a global leader providing tyres and advanced mobility solutions.”
Bridgestone Americas is providing a one-time, US$100 payment to all of its more than 33,000 employees in the USA who choose to receive the COVID-19 vaccine. The company is also exploring options to deploy a comparable programme to employees in Canada and Latin America as the vaccine becomes more widely available. Bridgestone is among the first major employers in its industry to initiate a financial payment to employees who decide to be vaccinated.
Bridgestone Americas has executed a US$1.1 billion sustainability-linked credit facility in partnership with Sumitomo Mitsubishi Banking Corporation (SMBC). Under this credit facility, the costs that Bridgestone incurs in relation to its borrowings will decline or rise in line with independent appraisals of its sustainability.
Marko Ibrahim is the new president of Bridgestone Retail Operations (BSRO), the Bridgestone Americas subsidiary responsible for operating a network of more than 2,200 tyre and vehicle service centres across the United States of America. He succeeds Joe Venezia, who led the organisation since 2017 and has stepped down to pursue a leadership role outside of Bridgestone.
With a new warehouse in Ancaster, Ontario, Bridgestone anticipates serving tyre dealers and customers in Canada with greater agility. The CA$65 million (£37.7 million) facility can hold up to 570,000 tyres and enables Bridgestone Canada to reduce transportation costs and shorten time-to-market for products in the country’s eastern region.
The world’s largest cement maker, LafargeHolcim, has confirmed that it will buy Firestone Building Products from Bridgestone Americas in a US$3.4 billion deal. The sale is designed to enable Bridgestone to “strengthen investments in company’s tyre business and fast-growing mobility solutions business”, according to an official statement.
Taren Rodabaugh has been appointed Bridgestone Americas’ chief information officer, effective 31 August. She is tasked with leading the company’s information technology strategy in support of its ongoing evolution to become a sustainable mobility and advanced solutions company.
Bridgestone EMIA (Europe, Middle East, India and Africa) is shuffling its sales leadership structure. Taking effect on 1 September, the changes of vice presidential roles coincide with the departure of Mirella Cielo, who will become president consumer replacement tire sales, US and Canada, Bridgestone Americas. The EMIA division stated that Cielo “has been instrumental within Bridgestone EMIA’s consumer replacement organisation throughout her three years in the business.”
Bridgestone Americas has announced plans to restart its North American commercial tyre plants as well as its North American Firestone Industrial Products and Firestone Building Products manufacturing facilities on 13 April. The company’s Bandag retread rubber manufacturing plants in North America resumed operations the week of 29 March in order to meet demand by essential service providers.
We can expect a flurry of business card printing and updates to LinkedIn profiles at Bridgestone in the near future following the announcement of several key appointments in the Americas and Asia Pacific regions. These latest executive management changes follow those announced in December 2019.
Bridgestone Corporation has announced several executive leadership changes in its Americas and Europe, Middle East, India and Africa (EMIA) regions, following the appointment of Shuichi Ishibashi as new CEO. The company said the changes reflect its “commitment to thoughtful succession planning” focusing on its global growth agenda.
Bridgestone Americas is expanding warehouses at two of its passenger car and light truck tyre manufacturing facilities in the USA. It will invest a total of US$72 million at its Aiken County, South Carolina and Wilson, North Carolina sites; the aim is to “enhance operational excellence” and “further increase the company’s ability to serve North American tyre dealers and customers.” This investment builds upon current and ongoing expansions of both plants.
Bridgestone Americas has named TJ Higgins its group president, Americas Tire Business. Higgins starts in this newly-created role on 16 September and takes responsibility for sales of all tyre-led businesses across the Americas region, including the company’s large integrated consumer and commercial tyre businesses.
Bridgestone Americas says it is honoured to be one of FCA’s Supplier of the Year awardees in the North America region. The tyre maker was one of 19 supplier partners acknowledged at the 2019 annual Supplier Conference and Award Ceremony in Detroit.
Production capacity for truck and bus radials at Bridgestone’s Warren County factory in Tennessee, USA will increase as part of a three-year, US$40 million investment to “meet market demand and address emerging customer needs.” Bridgestone Americas says it will break ground on expansion work at the 28-year old plant before the end of this year.