BFS buys Firestone Chile NASHVILLE, Tenn.—Bridgestone/Firestone Inc. has purchased the remaining 86 percent of Firestone Chile S.A. and renamed it Bridgestone/Firestone Chile S.A.
Terms of the March 31 transaction were not disclosed. BFS had purchased a 14-percent share in the Chilean company, formerly Neumaticos de Chile S.A. (NECSA), in April 1998.
Firestone Chile's output is about 1 million auto, light truck, commercial and agricultural tires per year, BFS said. The company posted sales of about $50 million in 1997.
The tire maker, located in Coquimbo, Chile, manufactures and distributes Firestone and private-brand tires and sells about 50 percent of its production domestically. The remainder is exported to Bolivia, Ecuador and the U.S., a BFS spokeswoman said.
She said Bridgestone/Firestone is committed to the Latin American tire market, where industry estimates give it a market share of 20 percent.
Pirelli plans Indian venture
NEW DELHI, India—Pirelli S.p.A. wants to establish a tire-manufacturing presence in India, through either a joint venture or a wholly owned subsidiary.
Pirelli is negotiating with Calcutta-based Birla Tyres regarding a plant to manufacture tires for passenger cars and multi-utility vehicles. Birla has a technical agreement with Pirelli, under which it has produced radial passenger and truck tires at its plant in Balasore, India, since 1991. Birla said Pirelli has proposed taking a 60-percent interest in a joint venture radial tire plant with an annual capacity of 1 million units.