 "Tyres, Bridgestone")
Tyre major Bridgestone announced on Friday the merger of its India business with Europe, Middle-East and Africa (EMEA) block from next year, segregating it from the China Asia-Pacific strategic business unit.
The move is aimed at unlocking untapped potential in both India and EMEA, the company said in a release.
The integration of India business into EMEA comes as a result of the latter's ongoing transformation capitalising on the opportunities digitalisation offers, it said.
"From January 1, Bridgestone India business will fall into the EMEA SBU, transferring from the China Asia-Pacific SBU.
"As a result, Bridgestone Europe, Russia, Middle East and Africa (BSEMEA) will become Bridgestone Europe, Russia, the Middle East, India and Africa (BSEMIA), one of four SBUs globally, alongside its business in Japan, the Americas and China Asia-Pacific region," the company said.
Also,the India business will join the company's recently announced EMs division, alongside the businesses in Africa, the Middle East, and Russia, Bridgestone said.
More From This Section
India is a market with huge potential. There are huge learnings that Bridgestone India can pass on to what is now Bridgestone EMEA, and vice versa. We are committed to working with India to make the company a leading mobility solutions provider across all three continents our business unit operates in, said Paolo Ferrari, chief executive officer and president for EMEA, Bridgestone.
The company also said that Parag Satpute will continue to lead theIndia business as its managing director.
As a result of the rapid expansion of the Indian automotive and tyre market, there is a great opportunity in the retail, internet sales, original equipment after-sales, and, in particular, fleets spaces opportunities that can be better realised when paired with Bridgestone EMEAs experience and expertise, the release said.
Likewise, EMEAs digital transformation can be accelerated by Indias tech skills and IT know-how, it added.
"This integration will enable Bridgestone India to offer Indian consumers convenience, efficiency and sustainability through mobility solutions. It will also speed up bringing new business models. With our manufacturing footprint and ongoing investments, we are a part committed to the Make in India movement," said Satpute.
This realignment would enable us to leverage greater insights from some of the evolved and mature automotive markets and have access to newer learning in the retail, internet sales and original equipment after-sales, in particular, he added.
