Bridgestone Buys Bandag For $1.05 Billion

Deal to close in the first quarter or early second quarter of 2007.

Bridgestone Americas Holding, Inc. and Bandag Inc. said Tuesday that they have an agreement under which Bridgestone will purchase Bandag for $1.05 billion.

The deal is expected to close in the first quarter or early in the second quarter of 2007.

Based in Iowa, Bandag is a manufacturer of tire retreading materials and equipment that produces and markets retreaded tires and provides tire management services. In 2005, it had sales of $921 million and following the acquisition, will be a wholly owned subsidiary of Bridgestone Americas Holding.

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