Bridgestone may sell Firestone Building Products division
Sep 07, 2020
Bridgestone Corp. is considering selling its Firestone Building Products division for approximately $2.5 billion.
According to information from insiders, the company has hired an advisor to explore strategic options for the future of this business. With an estimated $ 250 million in earnings before interest, taxes, depreciation and amortization, Firestone Building Products is expected to appeal to private equity firms as well as other roofing companies.
However, the fate of Firestone Building Products has not yet been decided, so Bridgestone may decide to retain the division.
Firestone Building Products, led by President Taylor Cole, is part of Bridgestone Americas and designs and manufactures roofing products primarily for the commercial market.