Otraco International is now part of Bridgestone Mining Solutions Australia. Bridgestone Corporation reports that after gaining regulatory approvals and satisfying other customary conditions, yesterday it completed the acquisition deal first announced in April. The OTR tyre management firm changed hands for AU$79 million (£42.4 million).
Bridgestone is to acquire the Otraco OTR tyre management solutions business from Downer EDI, continuing its growth strategy. The acquisition will be made by the number one tyre manufacturer’s group company, Bridgestone Mining Solutions Australia Pty. Ltd. Bridgestone said the acquisition will accelerate the growth of its global mining solutions business and expand the company’s service network in key markets such as Australia, Chile and South Africa. Bridgestone wants to complete the transaction, valued at 79 million Australian dollars (approximately £44 million), by the end of 2021.