Bridgestone: Acquisition of Otraco from Downer

Bridgestone Corporation announced that its group company Bridgestone Mining Solutions Australia Pty. Ltd. has completed the acquisition of Otraco International Pty Ltd, an Off-the-Road (OTR) tyre management solutions provider, from Downer EDI Limited on 1 December 2021, after getting regulatory approvals and satisfying other customary conditions. The transaction is valued at AUD 79 million (~ EUR 49.7 million).

According to Bridgestone, this acquisition is a part of strategic growth investment to accelerate global expansion of its solutions business planned in the Mid Term Business Plan (2021 – 2023). The company said it defines the mining tyre and solutions business as an important major business, in which the group continuously and proactively injects its strategic resources.

Otraco is an OTR tyre management solutions provider, having skilled tyre technicians located at mine sites in Australia, Chile and South Africa. The company has approximately 860 employees and is based in Brisbane, Australia. It also provides its proprietary computerised tyre management system Otracom for safe and efficient operations of mining customers. Otraco will reinforce Bridgestone Group’s service network, which is already in a global leading position. It will also create synergy with the group’s mining tyre and solutions business. Bridgestone said it provides proprietary mining tyre and solutions business globally, which aims to support safe and efficient operations of mining customers, contributing to the improvement of their productivity, and addressing sustainability issues such as reduction of CO₂ emissions and increasing resource productivity.

www.bridgestone.com