Recently, Bridgestone decided to sell a synthetic rubber plant operated by its subsidiary Firestone Polymers to Lion Elastomers.
It is reported that this factory mainly produces styrene-butadiene copolymer, and the buyer Lion Elastomers is a synthetic rubber producer.
Once this transaction is completed, Firestone Polymers will be decoupled from the synthetic rubber supply business.
However, Bridgestone still owns the SBR styrene-butadiene rubber plant in Louisiana, USA, and the laboratory in Akron.
The relevant financial terms of the transaction have not been disclosed.
Jesse Zeringue, CEO and President of Lion Elastomers, said that they have established close working relationships with Bridgestone for decades. The acquisition will help diversify its business.
It is understood that since 2005, the company has conducted three large-scale mergers and acquisitions. Currently, they produce Royale brand EPDM ethylene propylene rubber and SBR styrene butadiene rubber in factories in two US states.