Japanese tyre maker Bridgestone has finalised its A$79 million (US$56m) acquisition of mining-tyre management technology and services company, Otraco International. The deal, first announced in April this year, sees Otraco become part of Bridgestone’s “important major” mining tyre and solutions business.
Established in 1972, Otraco was bought by Australian-listed contract mining and engineering company Downer EDI in 2006.
Bridgestone, a key player in the circa-US$4.5 billion global mining tyre market, says Otraco has skilled tyre technicians at mine sites in Australia, Chile and South Africa. It had also installed its Otracom proprietary computerised tire management system at more than 100 operating sites worldwide.
“The impact of this acquisition on Bridgestone’s consolidated financial results for 2021 will be minor,” Bridgestone said.