MUSCATINE, Iowa (June 4) — Bridgestone Americas Holding Inc. purchased Bandag Inc. to build upon "the great Bandag legacy" and enhance its revenues and product portfolio, Saul Solomon, chairman, CEO and president of the new Bridgestone Bandag L.L.C. said.
Solomon joined Bridgestone Chairman and CEO Mark Emkes and outgoing Bandag Chairman and CEO Martin Carver at a press conference celebrating the closing of Bridgestone´s $1.05 billion acquisition of Bandag.
"We view this as an alignment of the two leaders in the commercial tire industry," Solomon said. "We´ll be able to package what we call a total tire offering, which is a streamlined way to manage the customers´ needs through the entire tire life cycle."
He said he and his team plan no employment changes but hope to "take advantage of the talent pool" in Muscatine.
Bridgestone also recognizes the importance and strength of the Bandag retreading system brand and wants to continue that name in the marketplace, Solomon said.
Bandag and Bridgestone also are going to look at each other´s technology very quickly, Solomon said. "Both Bandag and Bridgestone have great R&D capability, and we look forward to exchanging what Bandag knows and what Bridgestone knows, something we could not do in this period before closing."