TOKYO-Bridgestone Corp. is negotiating the purchase of Fedstone (Pty.) Ltd., a Johannesburg, South Africa-based holding company which owns Firestone South Africa Pty. Ltd. The purchase will cost about $62 million. Firestone South Africa, with two tire plants, is a former Firestone Tire & Rubber Co. subsidiary that was sold in the 1980s but continued making Firestone-brand tires under license.
BUDAPEST, Hungary-Group Michelin of France has completed a deal to buy 90-percent control of Taurus Rubber Co., and Germany's Phoenix A.G. has purchased the bulk of the Hungarian company's non-tire operations.
The remaining shares are reserved for the firm's employees under provisions of the country's privatization procedures.
Michelin is paying $66 million for Taurus and will spend another $60 million to upgrade the company's Budapest truck tire plant and its farm tire factory in Nyiregyhaza, Hungary.
EDINBURGH, Scotland-Turkish tire maker Brisa-a joint venture of Bridgestone Corp. and Turkey's Sabanci Group-has won the 1996 European Quality Award, presented annually by the European Foundation for Quality Management.