BRIDGESTONE ACQUIRES MORGAN TIRE AND AUTO AND ENHANCES DISTRIBUTION IN THE US.
The American subsidiary of the Japanese Tyre giant Bridgestone, Bridgestone/Firestone (BFS), announced in mid-August that it had acquired a majority stake in the Tyre distributor Morgan Tire and Auto (MTA), based in Clearwater (Florida), making it the leading tyre distributor in the United States. BFS already contrlled 1,589 tyre retailing outlets in the United States. By acquiring control of MTA, BFS has added a further 558 MTA outlets to its network. MTA was previously the United States' second tyre distributor. Financial details of the deal have not been revealed. Bridgestone/Firestone has indicated that Morgan Tire and Auto will work independently as a subsidiary in which BFS holds the majority stake. MTA will remain a distributor for many leading brands continuing to sell Bridgestone, Firestone products and those of its competitors...JJ:(PDH)
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|Article Type:||Brief Article|
|Date:||Sep 1, 2001|
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