TOKYO—Bridgestone Corp. has struck a deal to sell its ownership stake in Bridgestone (Huizhou) Synthetic Rubber Co. Ltd. (BSRC) to LCY Chemical Corp., a Taiwan-based company active in polymers, solvents and other industrial chemicals.
Terms of the deal are not being disclosed, but Bridgestone said it expects to "make new synergy" with LCY, which it said is known for its "expertise for materials and chemicals."
Huizhou, China-based BSRC produces synthetic rubber, predominantly styrene-butadiene rubber used in passenger tires, Bridgestone said. It generated $61 million in revenue in fiscal 2020, with 133 employees.
The sale is expected to have only "minor" impact on Bridgestone's fiscal 2021 financial results.