Tyre maker, Bridgestone Southern Africa Holdings, has bought Otraco Southern Africa and the company has announced the news on Wednesday.
Bridgestone has acquired Otraco which is one of the most active tyre makers in the off-road tyre-management solutions market per a report by Engineering News.
Otraco Southern Africa is active in the off-the-road tyre management solutions market.
Bridgestone says the acquisition will accelerate the growth of Bridgestone Southern Africa’s mining solutions business, including mining tyre management, and expand the company’s service network.
André Bode will continue as MD of Otraco, reporting to Bridgestone Middle East & Africa VP and Bridgestone Southern Africa CEO Jacques Fourie.
“The acquisition of Otraco, with their strength in tyre management, is an exciting milestone in our history and presents a new opportunity to extend our mobility solution offerings to the market,” says Fourie.
Going forward, Bridgestone Southern Africa will go to market under the Otraco banner.
“I am honoured and enthusiastic for the opportunity to lead this exciting business,” notes Bode.
“We have excellent people who are passionate about what we do. As a team, we look forward to unlocking new growth opportunities and improving the way we serve our customers by nurturing relationships, built on value and trust.”
As part of Bridgestone’s aspirations to better mobility solutions and tyre-centric services across all of its market segments, the tyre making company has also identified a need in the mining market for specific mining services.
Remaining with manufacturing news, BusinessTech Africa reported that Aspen will receive Globally recognised pharmaceutical company Aspen will receive $30 million from Bill & Melinda Gates Foundation and the Coalition for Epidemic Preparedness Innovations (CEPI).
The JSE-listed pharmaceutical company will receive (R523 million) from the two funders to help manufacture routine and outbreak vaccines for Africa.
It is reported that the $15 million each from CEPI and the Gates Foundation is also expected to support a 10-year agreement between Aspen and Serum Institute.
Aspen is the biggest medicine producer on the African continent, and the partnership with India’s Serum Institute aims to expand the supply and sourcing of vaccines manufactured in Africa.
