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Firestone Industrial Products Statement on Exit of Joint Venture


12/01/2017

FIRESTONE INDUSTRIAL PRODUCTS

200 4th Avenue South
Nashville, TN 37201
Phone: 877-201-2373
Fax: 615-937-1414

November 30, 2017
Contact: Media Center (877) 201-2373

Firestone Industrial Products Statement on Exit of Joint Venture

Firestone Industrial Products (FSIP) is a leader in developing solutions designed to eliminate vibration in transportation. FSIP continuously assesses the best allocation of resources to drive strategic global growth of its world-class engineering and technology solutions. As a result of its ongoing efforts to simplify its business and prioritize long-term opportunities for growth, FSIP has made the strategic decision to exit the heavy duty vehicle air spring market in India and terminate its interest in Firestone-TVS (FS-TVS), effective November 30, 2017. FS-TVS was a joint venture formed in 2008 between FSIP and Sundaram Industries. FS-TVS is a strong business, but FSIP is realigning its resources and simplifying its business to focus on strategic growth markets. .

About Firestone Industrial Products Company, LLC:

Firestone Industrial Products Company, LLC, specializes in air spring manufacturing and technology with a history of more than 75 years of research and development on technologically advanced air springs for the global marketplace. Headquartered in Indianapolis, Ind., Firestone Industrial Products manufactures air springs and related products for commercial trucks and trailers, cars, sport utility vehicles, light trucks, mini vans, motor homes, buses, agricultural equipment, rail and industrial applications. The company has quality-certified manufacturing/assembly plants and technical centers in North America, Latin America, Europe and Asia. For more information, visit www.firestoneip.com.

Firestone offers a line of Complete Suspension Solutions that includes Ride-Rite™, Sport-Rite™, Coil-Rite™, and Level-Rite™ Air Helper Springs, and Work-Rite™ Load Assist Springs. These products have become synonymous with quality, durability and outstanding customer support. For more information, visit www.riderite.com.