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Bridgestone/Firestone Inc. Acquires 100% of Chilean Company

1 April 1999

Bridgestone/Firestone Inc. Acquires 100% of Chilean Company

    NASHVILLE, Tenn.--(AutomotiveWire)--March 31, 1999-- Bridgestone/Firestone, Inc. announced today that it had acquired the remaining 86% of Firestone Chile S.A. Following the purchase, the acquired company's name was changed to Bridgestone/Firestone Chile S.A. Terms of the acquisition were not disclosed.
    Bridgestone/Firestone Chile manufactures Firestone and private brand passenger, light truck and truck tires in its plant in Coquimbo, Chile and markets these tires through its dealer network and its retail stores in Chile. Bridgestone/Firestone, Inc. had previously acquired a fourteen percent interest in Firestone Chile.
    Commenting on the acquisition, Bridgestone/Firestone, Inc. Chairman and CEO Masatoshi Ono, said, "This is an important step for our company. We are confident that Bridgestone/Firestone Chile will be a tremendous asset to us in this very important Chilean market and will assist us in growing and supporting our Bridgestone and Firestone brands here."
    Bridgestone/Firestone, Inc. is based in Nashville, Tennessee. It is the largest subsidiary of Bridgestone Corporation of Japan, the world's largest tire and rubber manufacturer. Bridgestone/Firestone, Inc. develops, manufactures and markets Bridgestone, Firestone and private brand tires throughout the Western Hemisphere.