BANKSA BYSTRICA, Slovak Republic (Nov. 24, 2015) — Bridgestone Corp. has expanded its “Bridgestone Partner” commercial dealer network in Slovak Republic by acquiring majority ownership of A.R.S. spol S.r.o., a dealership with eight locations and one retread plant.
Financial terms of the deal were not disclosed. A.R.S's annual sales were not disclosed.
Bridgestone said A.R.S.'s service locations will operate under the Bridgestone Partner umbrella and that A.R.S.'s retread plant will convert to the Bandag process, owned by Bridgestone.
A.R.S. currently is affiliated with Group Michelin's Recamic retreading system, according to the firm's Web site.
“Bridgestone and A.R.S. are two leading companies that share common history in the consumer and commercial tire market,” said Antonio Iannetta, commercial business unit director, Bridgestone East Europe.
“I believe that our reach, experience and commitment to our customers and employees will help us to further build this strong organization with a lot of potential for both sides.”
Slovak Republic offers many advantages for foreign investors, such as growing economy, favorable geographical location, skilled labor and a car assembly capacity, according to Steven De Bock, commercial business unit director, Bridgestone Europe.
“This partnership confirms our joint integrated approach — new, retread and services — which are the key elements of Total Tyre Care – the program to reduce operating costs for fleets,” Mr. De Bock said.
“Joining the Bridgestone Group gives A.R.S. and its employees new opportunities to further develop our dedicated professional service and strengthen our values,” said Miroslav Kostiviar, founder and shareholder of A.R.S.
“We look forward to work with the Bridgestone team for a successful transition and collaboration.”