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Bridgestone Americas sells Venezuela operations to Corimon Group

ABR Staff Writer Published 24 May 2016

Bridgestone Americas has signed an agreement to sell its business in Venezuela, Bridgestone Firestone Venezolana C.A. (BFVZ), to the Corimon Group.

This divestiture follows BFVZ deconsolidation in the third quarter of 2015, and a strategic decision to prioritize Bridgestone's growth and investment in other Latin American markets.

Due to the fact that the Venezuela operations were deconsolidated from Bridgestone Americas last year, this divestiture will have no financial impact on the company.

Bridgestone is proud of the 62 years it served the Venezuelan people and wishes the best of success to the new owners of the company and to employees as they begin this next phase under new management.

Bridgestone Firestone Venezolana C.A. will now become Alice Neumáticos de Venezuela, a company managed by the Corimon Group.

Source: Company Press Release