Bridgestone Moves to Close Port Elizabeth Plant in South Africa

Bridgestone Corp. (TYO:5108) recently announced that it has proposed the closure of the Port Elizabeth plant operated by group company Bridgestone South Africa Pty. Ltd. (BSAF), and that it has begun discussions with relevant parties. Launched in 1936, the Port Elizabeth plant serves to manufacture bias tires. But with global tire demand shifting away from bias tires and toward radial…