Bridgestone Corp. announced that its group company Bridgestone Mining Solutions Australia has entered an agreement to acquire Otraco International from Downer EDI Limited. This acquisition will complement Bridgestone’s global mining solutions business and expand the company’s service network in Australia, Chile, and South Africa.
All business assets, including Otraco’s sales offices and training facilities, OTR customer relationships, and the company’s approximately 860 employees will transfer to Bridgestone upon completion of the sale. The transaction, valued at $61.7 million, is expected to close by the end of 2021. The sale is subject to regulatory approvals and other customary closing conditions.
“Today we are announcing another significant step in our ongoing solutions journey,” said Masahiro Higashi, Global COO and Representative Executive Officer, Bridgestone Corporation. “Acquiring Otraco will allow us to quickly expand our mining solutions business in key markets and create growth
Otraco offers a portfolio of OTR tire management solutions that track tires across the full lifecycle, such as its computerized Otracom platform. Otraco’s offering will complement Bridgestone’s OTR products and solutions, including Bridgestone MasterCore surface mining tires and the tire monitoring and management solution.