An Iowa company that controls nearly half the market for
re-treading truck tires is being bought out by Bridgestone Tires.
Bridgestone announced it will pay a little more than $1
billion for Bandag, which has 900 dealers in 100 countries and manufacturing
facilities in the U.S. and four other countries.
Bandag's chairman told employees the deal is necessary
because of increasing prices for raw materials, the Quad City Times
In acquiring Bandag, Bridgestone also gets Speedco, the
commercial truck lube and tire service company in which Bandag owns controlling