Shareholders of tire producer Bridgestone Australia voted to privatize the company, after more than 50 years as a public entity.Shareholders of tire producer Bridgestone Australia Australia (ôstrāl`yə), smallest continent, between the Indian and Pacific oceans. With the island state of Tasmania to the south, the continent makes up the Commonwealth of Australia, a federal parliamentary state (2005 est. pop. voted to privatize pri·va·tize tr.v. pri·va·tized, pri·va·tiz·ing, pri·va·tiz·es To change (an industry or business, for example) from governmental or public ownership or control to private enterprise: "The strike ... the company, after more than 50 years as a public entity. Shareholders meeting in Adelaide Adelaide, empress consort of Holy Roman Emperor Otto I Adelaide (ăd`əlād) or Adelheid (ä`dĕlhīt), c. agreed to a $50 million buy-back of the company's minority shareholding. The company will become a wholly-owned subsidiary of major shareholder Bridgestone of Japan. Minority shareholders hold about 14.5 million shares of Bridgestone Australia, while Bridgestone has more than 22 million shares, or 60.3% (www.bridgestone.com.au). |
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