TOKYO — Bridgestone Corp. is selling an idled truck and bus tire plant in Huizhou, China, to a local real estate company.
Bridgestone Huizhou Tire Co. (BSHZ) ceased operations at year-end 2021 as part of the Japanese company's move to consolidate truck/bus tire production in China.
In a June 22 statement, Bridgestone said it is selling 100% of the shares of BSHZ to local real estate and property management firm, Huizhou Zhongkai Xinye Development, for $40 million.
The transaction is expected to be completed by the end of June.
Prior to being idled, the 17-year-old facility had a nameplate capacity of 4,400 tires per day and employed 800. The company suffered operating losses for the 2020 through 2022 financial years, Bridgestone said.
The plant is one of four that Bridgestone operated in China. Among them is one other truck/bus tire factory, in Shenyang, in northeastern China, with a rated daily capacity of 2,800 tires, with 518 employees.
The other two, in Tianjin and Wuxi, are passenger and light truck tire plants.
