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Old 04-10-2002, 01:51 AM
ke6dcj ke6dcj is offline
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Join Date: Apr 1999
Posts: 2,638
Guido- good info, but not 100% correct.

Bridgestone bought out Kumho's manufacturing plant in China, but not Korea, nor R&D. So while Kumho might have it's own R&D & manufacturing plants, I'm sure Bridgestone has lots of influence.

Taken from:
http://www.atimes.com/bizasia/BB01Aa01.html
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Kumho sells Chinese tire plant to Bridgestone
SEOUL - Kumho Industry said Monday it has sold its tire plant in Tianjin, China, to Bridgestone Tire for $140 million. The company turned over its 94.5-percent stake in Tianjin Kumho Tire, which was set up in May 1997 with an annual production capacity of 3.5 million tires. It has another tire plant in Nanjing. The sales proceeds would go to reduce Kumho's debt ratio from 240 percent to 190 percent. Kumho will develop the Nanjing plant to focus on supplying tires to Korean auto plants in China.
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Taken from:
http://www.bridgestone-firestone.com/news/corporate/news/acv00_01_06/00131a.html

Here's an excerpt:

Bridgestone Acquires Second Tire Plant in China
Purchase Includes Chinese production and sales subsidiary of Korea's Kumho Tire

Nashville, Tenn. (January 31, 2000) -- Bridgestone Corporation has acquired control of a Chinese manufacturer of radial tires for passenger cars and small commercial vehicles from the Republic of Korea's Kumho Industrial Co., Ltd. Representatives of Bridgestone and Kumho signed the share purchase agreement today in Tokyo, culminating several months of negotiations.

The transaction gives Bridgestone a substantial majority interest in Kumho Virgin Islands Inc., the holding company of Tianjin-based Tianjin Kumho Tire Co., Ltd., effective January 31, 2000. Kumho Virgin Islands owns 94.5% of Tianjin Kumho, and a Chinese company, Tianjin Tyre & Rubber Industrial Co., Ltd., owns the other 5.5%. Bridgestone is paying $75 million for Kumho's equity in Kumho Virgin Islands.

Last edited by ke6dcj; 04-10-2002 at 02:38 AM.
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