Downer EDI offloads Otraco for A$79m

Tue, 27 Apr 2021

Infrastructure group Downer EDI has sold tyre management business, Otraco, to multinational tyre group Bridgestone Corp for A$79 million (NZ$85m).Chief executive Grant Fenn said the sale of Otraco, which provides tyre management services to mining operations in Australia, Chile and southern Africa, was another step in the divestment of Downer’s “capital intensive” mining businesses.The dual listed company, which employs about 53,000 people primarily across Australia and New Zealand, has disposed of its underground mining, blas...

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