Bridgestone to acquire Otraco from Downer Group for $58m.

Bridgestone, a multinational auto and truck parts manufacturer, agreed to acquire Otraco, a provider of earthmover off-the-road tire management services, from Downer Group, a locally-owned public company that provides engineering, construction and infrastructure management services, for $58m. The transaction is targeted for completion by the end of 2021. "Acquiring Otraco will allow us to quickly expand our mining solutions business in key markets and create growth opportunities with existing mining customers. Otraco has an extensive service network built on strong customer relationships and we are excited for their team of experts to join Bridgestone," Masahiro Higashi, Bridgestone Global COO and Representative Executive Officer.