TOKYO - Bridgestone Corporation announced that its wholly owned U.S. subsidiary, Bridgestone Hose America Inc., reached an agreement to acquire U.S.-based Masthead Industries, LLC., operator of one of the largest networks specialized in hose sales and service in the U.S. With 34 locations throughout the States and one in Mexico, the acquisition of Masthead Industries will enable Bridgestone to create additional value in hose operations by providing a timely supply of high-quality hoses to a wider range of customers while also offering support through specialized services.
Masthead Industries currently operates hose sales and service stores known as "HosePower." Masthead Industries has established an excellent service system capable of meeting the needs of a wide range of customers such as end-users, OEM and those conducting mining activities. The agreement is a natural evolution for the two companies which have worked together since the original establishment of Masthead Industries in 1990.
Bridgestone began producing hoses in 1937. Today, the Company primarily deals in the hydraulic hoses used in construction machinery and factories, which it manufactures and assembles at eight locations in the world. In addition to supplying to machinery manufacturers, Bridgestone is expanding sales of replacement hoses to end-users while developing a mining solutions business.
The Bridgestone group is optimizing key elements of its diversified products business by applying the principles of "selection and concentration". In selected business segments, the Group is working to ensure further growth and improvements by enhancing collaboration among other businesses and promoting globalization.
Highlights of Masthead Industries, LLC. include:
|1. Company||Masthead Industries, LLC.|
|2. Headquarters||Orange Park, Florida, United States|
|3. Sales||USD $102 million in 2013|
|4. Year Founded||1990|
|5. Employees||Approx. 400|