Bridgestone Corporation announced that it will consolidate its automotive seat pad manufacturing plants in Japan, which are currently manufactured in four plants owned by its group companies, three of which are owned by Bridgestone Chemitech Co., Ltd. (BSCT) and one by Bridgestone Diversified Chemical Products Co., Ltd.(BDCP).
The project is part of the company's global expense and cost structure assessment, which was announced on February 16, 2021 in the Mid Term Business Plan (2021-2023). The Mid-Term Business Plan aims to strengthen Bridgestone's business portfolio management, allowing the company to adapt quickly to changing business conditions, while rebuilding the company's core business earning power through expense and cost structure reformation, enforcing the premium business strategy as a foundation, and enhancing strategic growth investments.
Bridgestone has discussed and implemented its varied products business restructuring, which is based on its Mid Term Business Plan (2021-2023). The company has carefully considered the future of the automotive seat pad business and determined that consolidating plants will help to strengthen the company's structure.
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The personnel of the BSCT Ageo Plant are highly skilled and experienced, and Bridgestone anticipates that all current employees will remain with the company. Bridgestone is also working together with customers, suppliers, and local communities to reduce the community's impact as much as possible. Bridgestone anticipates a minimal impact on its consolidated financial performance in 2021.
About Bridgestone:
Bridgestone Corporation is a global leader in tyres and rubber, leveraging its expertise to develop solutions for safe and long-term mobility. The company, which is headquartered in Tokyo, employs around 140,000 people worldwide and does business in more than 150 countries and territories.
Bridgestone has a comprehensive product portfolio of premium tyres and advanced solutions underpinned by cutting-edge technology that improves the way people move, live, work, and play across the world.
What do you think about Bridgestone consolidating the automotive seat pad manufacturing plants in Japan? Tell us in the comments.
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