Apr 04 , 2011
Tokyo (April 4, 2011) - Bridgestone Corporation announced today that a subsidiary, Bridgestone Middle East & Africa East FZE (BSMEA), has established a new tire sales company based in Casablanca City, Morocco. The new company is named Bridgestone Tire Sales Morocco SARLAU (BTSM). Exports of minerals in Morocco, such as phosphate ore and agricultural products have been growing significantly due to the free trade agreements the country has established with the European Union and the United States. Additionally, Morocco is actively establishing additional infrastructure along the coast of the Mediterranean Sea in hopes of becoming a major hub for the distribution of goods in and out of North Africa. For this reason, BSMEA sees Morocco as a key region in which rapid economic expansion can be anticipated. BSMEA aims to further strengthen its business in Morocco’s highly promising market by establishing this new tire sales company, thus increasing its ability to offer higher quality products and services to the region. *Outline of BTSM 1. Company name: Bridgestone Tire Sales Morocco SARLAU 2. Location: Casablanca City, Morocco 3. Representative: Kensuke Yoshida 4. Date of establishment: January 17, 2011 (Commencement of operations: April 1, 2011) 5. Capital: 3.3 million Moroccan dirhams (Approx. \33 million, calculated based on an exchange rate of 1 Moroccan dirham = \10) 6. Ownership: BSMEA 100% 7. Number of employees: 4 8. Business operations: Sale of tires (for passenger cars, trucks and buses, etc.) and services
