Bridgestone HosePower acquires Industrial Rubber Company

June 12, 2018

hydraulic-hoseJapanese tyre maker Bridgestone is broadening its footprint to become one of the largest networks specialising in hose sales and service in the US with its acquisition of Industrial Rubber Co., a hydraulic and industrial hose sales and service company based in Elizabeth, N.J. The acquisition is being undertaken by Bridgestone HosePower, a wholly owned indirect subsidiary of Bridgestone.

According to the agreement, Industrial Rubber’s 17 current employees will be offered positions within HosePower, including Dennis Szafran, current general manager of the business.

“We are proud to add this business to our portfolio,” said J. Palmer Clarkson, president and CEO, HosePower. “Industrial Rubber has an extensive customer base in northern New Jersey. This acquisition broadens our presence in the Northeast, further enhancing Bridgestone HosePower’s leadership in the market, increasing our product offerings and expanding our portfolio of value-added services.”

The Industrial Rubber acquisition brings Bridgestone HosePower to 44 US locations and one location in Mexico.

“We are excited to join Bridgestone HosePower. This integration brings our expertise into a larger organization,” said Dennis Szafran, general manager, Industrial Rubber, Co. “Adding their expertise and extensive product offerings allows us to further our ability to service our customers, and we are enthusiastic about the increased opportunities Bridgestone HosePower will bring our employees and customers.”

Industrial Rubber was established in 1950 as a distributor of hydraulic-industrial hoses, fittings, gaskets, accessories and safety supplies. The company serves a broad range of customers, including OEMs, re-distribution and over-the-counter service customers. The company has a strong presence in the marine and chemical processing business. The business has continued to expand over the years, opening a second location in Bridgewater, N.J., in 1999. The Bridgewater location also is included in the purchase.

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Rubber Prices
(Last Updated: 16 Aug 2018)

Monthly The prices shown above do not include VAT @4% on purchase and expenses towards packing, transportation, warehousing  and other incidentals


Source: Latex India

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