Bridgestone Americas completed the sale of Firestone Building Products to Holcim Participations (US) Inc, a subsidiary of LafargeHolcim Ltd.

The transaction, valued at USD $3.4 billion, will advance Bridgestone’s efforts to deliver value to customers and society as a global leader providing tyres and advanced mobility solutions.

“The completion of this sale is an important milestone on Bridgestone’s journey to become a sustainable solutions company,” said Paolo Ferrari, president, CEO & COO of Bridgestone Americas. “We are taking action to reshape our portfolio so that we can invest our resources to strengthen Bridgestone’s growing core tyre business and quickly expand our mobility solutions offering.”

The divestiture of Firestone Building Products supports Bridgestone’s Mid-Long Term Business Strategy. By focusing its business footprint to maximize the strengths of its core tyre business, Bridgestone is evolving into a sustainable solutions company that supports the mobility and movement of people and goods around the world.

“This divestiture will allow Bridgestone to further rebuild our earning power as we progress in our journey to become a sustainable solutions company that delivers customer and social value,” said Shuichi Ishibashi, Global CEO and Representative Executive Officer, Bridgestone Corporation. “It also will enable Firestone Building Products to deliver on its strategic growth plans as part of the LafargeHolcim family. We believe this is a positive step that will deliver a more sustainable future for all.” (TT)

 

France-headquartered AI-powered solutions for identifying and grading used tyres company REGOM recently won the Green Product Award 2025.

More than 1,500 participants from 46 countries applied for the Awards across 11 categories. The winners were selected from the top 250 nominated products and concepts, and REGOM was honoured for its innovative solution that is supporting the tyre industry.

Every year, the Green Product Award recognises products and concepts that stand out in terms of design, innovation and sustainability. The winners were announced on 15 May at the Nordic Embassies in Berlin. Embassy envoys and jurors such as Uwe Melichar (Touch Design), Prof. Claus-Christian Eckhardt (Lund University), Katja Keienburg (baby&junior) presented the awards to winners from Austria, Brazil, Canada, China, France, Germany, Italy, Netherlands, Spain, Sweden, Switzerland and the United Kingdom.

REGOM’s solution provides tyre collectors and recyclers the technology to optimise the sorting for reuse, resell, retread, material recovery and pyrolysis. The tyre recycling sector has been slow to adopt digital transformation, relying on manual inspection for decades.

The French company disrupts this status quo by bringing AI-driven efficiency and technology increase yields for reuse applications extending tyre lifespan, reducing waste, minimising environmental impact and preventing landfill accumulation.

The European Commission has opened an investigation into whether Chinese manufacturers are selling car and light truck tyres in the European Union below fair market value, following complaints from the bloc's tyre industry.

The probe will examine allegations that dumped Chinese imports are causing material harm to EU tyre producers. The investigation could lead to the imposition of anti-dumping duties if unfair trading practices are confirmed.

The EU tyre sector directly employs 75,000 workers across 14 member states and serves as a critical supplier to Europe's substantial automotive manufacturing base. The market for passenger car and light commercial vehicle tyres was valued at more than EUR 18 billion last year.

"If the investigation confirms that the EU tyre industry suffers from injury or threat of injury because of dumped imports from China, the Commission may impose anti-dumping duties on imports if these are found to be in the interest of the EU," the Commission said in a statement.

The investigation follows a formal complaint lodged by European tyre manufacturers, who argue that Chinese competitors are selling products at artificially low prices that undercut fair competition.

Brussels has 14 months to complete its assessment, though provisional measures could be implemented within eight months if preliminary evidence establishes both dumping and resulting injury to EU industry.

The Commission already maintains anti-dumping and anti-subsidy measures on Chinese imports of tyres for buses and lorries, implemented following similar investigations.

Goodyear Tire & Rubber Company has agreed to sell the majority of its chemical business to private equity firm Gemspring Capital Management for approximately USD 650 million in cash.

The transaction, part of Goodyear's strategic transformation plan, includes facilities in Houston and Beaumont, Texas, along with a research office in Akron, Ohio. The deal is expected to close by late 2025, subject to regulatory approval and other customary conditions.

Goodyear Chemical produces synthetic rubber and serves the automotive aftermarket, consumer and industrial sectors across North America. The business has been under strategic review as part of the company's broader Goodyear Forward transformation initiative.

"With the sale of our chemical business, we continue to demonstrate our commitment to optimising our portfolio and creating shareholder value," said Mark Stewart, Goodyear's chief executive and president. "We are grateful to our Goodyear Chemical associates who have driven the success of this business. We will work closely with Gemspring to help ensure a smooth transition for our associates, customers and suppliers."

Mathew Wallace, Managing Director, Gemspring, remarked: "We look forward to unlocking the full potential of Goodyear Chemical as a standalone business and supporting its next chapter of growth and innovation. Goodyear Chemical is an industry leader, underpinned by deep customer relationships, a mission-critical product portfolio, a track record of innovation, and incredibly talented employees. We are grateful to the Goodyear team who have driven the success of the business to date and are committed to working closely with Goodyear to ensure a smooth transition for associates, customers, and suppliers."

Tesham Gor, a Gemspring Executive Advisor who is expected to become Chief Executive Officer of the Business, added, "We are excited to advance Goodyear Chemical's industry positioning by leveraging our strategic, financial, and industry expertise to continue delivering world-class elastomer technologies and engineered solutions to our customers. As a standalone entity, the Business will be well positioned to accelerate product development, expand its relationships with existing and new customers globally, deliver sustainable solutions, continue to invest in its people, and drive growth and innovation through commercial, technical, and operational excellence."

The deal includes a long-term supply agreement between the two companies, though specific terms were not disclosed. Goodyear plans to use proceeds from the sale to reduce debt and fund initiatives related to its transformation plan.

The Akron, Ohio-based company will retain chemical facilities in Niagara Falls, New York, and Bayport, Texas, maintaining rights to products manufactured at those locations.

Lazard served as lead financial adviser to Goodyear, with Deutsche Bank acting as financial adviser and Squire Patton Boggs providing legal counsel.

Goodyear Tire & Rubber has elected Jason J Winkler to its Board of Directors, effective 15 May 2025, the company announced today.

Winkler, who currently serves as executive vice president and chief financial officer of Motorola Solutions, will join Goodyear's Audit Committee and Committee on Corporate Responsibility and Compliance.

"We are pleased to welcome Jason Winkler to Goodyear's Board of Directors," said Chairman of the Board Laurette T. Koellner. "His extensive global finance leadership experience will be an incredible asset as Goodyear continues to drive substantial company and shareholder value by delivering significant margin expansion, an optimised portfolio and reduced leverage under the Goodyear Forward transformation plan."

Winkler brings over two decades of financial leadership experience to the tyre manufacturer's board. Since joining Motorola in 2001, he has held numerous financial leadership positions across investor relations, global channel management, mergers and acquisitions, and product operations.

In his current role at Motorola Solutions, Winkler oversees the company's financial strategy and leads its finance, supply chain and information technology functions. He has been instrumental in driving significant transformation at Motorola, achieving growth, margin expansion and balance sheet improvements that have contributed to strong shareholder returns.

Prior to his tenure at Motorola, Winkler worked at Oracle and Hewitt Associates, now AON. He holds a bachelor's degree in business administration from Valparaiso University and an MBA from the University of Chicago's Booth School of Business.