TOKYO — Bridgestone Corp. has offered to buy Otraco International Pty. Ltd., an Australian provider of Off-the-Road (OTR) tire management solutions, in a move designed to accelerate the company's global growth in mining solutions business.
The transaction, valued at $61 million and subject to regulatory approvals and other customary closing conditions, is expected to close by year-end. The deal is being carried out by Bridgestone Mining Solutions Australia Pty. Ltd.
In business since 1972, Kewdale, Australia-based Otraco delivers tire-management solutions for OTR and light mobile equipment, helping customers throughout the mining sector to increase productivity and reduce the cost of tire ownership.
Among the assets Otraco offers:
- Complete tire management delivered by Otraco's fully accredited tire technicians located onsite; Otraco provides tire maintenance supported by Zero Harm safety programs and asset management solutions.