The Tire and Rubber Association of Canada News
Online tire sale platform
The online retailing helps in reaching out too many consumers without launching stores and this results in cost benefits which are ultimately passed on to the customers. Moreover, increasing spending on e-commerce platform by OEM’s due to high internet penetration rate will drive the online tire market during the forecast period as well.
Seoul – South Korean petrochemicals company Kumho Petrochemical has reported an upward trend in the prices of butadiene and synthetic rubber in the first half of 2018.
The “gradual” increase in butadiene prices, said the company 6 Aug, was a result of a decline in supply, due to “regular maintenances, ‘troubles’ and increased demand caused by favourable ABS market”.
The year is barely 110 days old, and changes continue to happen within the tire industry at a breakneck pace.
First, Michelin North America Inc. and Sumitomo Corp. of America (SCOA) announced their intentions to combine Michelin’s wholesale distribution assets with TBC Corp., creating a 50/50 joint venture, National Tire Wholesale (NTW). The business, with 144 locations across North America, will distribute nearly 15 million tires.
Days later, Continental A.G. revealed it is considering restructuring to position itself for the upcoming disruption in the automotive industry.
In early March, Mavis Discount Tire and…
The global tire industry almost saw another big merger in 2017, but there was plenty of other activity keeping firms busy in the year. From new investments to new structures, here are four of the biggest events within the tire sector.
Doublestar tries to buy Kumho
It looked for a moment another big-time tire merger was about to happen.
Doublestar Tire Co. Ltd. had agreed to acquire Kumho Tire Co. Inc. for about $830 million in March, but in September Kumho creditors rejected the deal after Doublestar allegedly asked for the price to be reduced by 16 percent amid disputes over trademark rights.
The deal is on thin ice as both sides were…
AKRON—Despite relatively lackluster first-half financial performances, tire makers for the most part are optimistic about their second half and fiscal 2017 earnings prospects.
AKRON —Status quo reigned over the 2017 global tire rankings, even as the estimated value of the entire industry declined for a third straight year.
AKRON — The world’s leading tire makers committed more than $7.3 billion in the past year toward new plants and capacity expansions, a measurable drop from record spending of $10 billion-plus in 2015-16 but still ahead of the annualized average for the past decade.
The investment sum was buoyed by nearly $3.3 billion in spending on acquisitions, deals that involved companies with collective annual sales of more than $2.5 billion — including Qingdao Doublestar Tire Co. Ltd.’s still-pending $830 million bid to buy what amounts to a controlling interest in South Korea’s Kumho Tire Co. Inc.
LONDON, July 10, 2017 /PRNewswire/ — This report analyzes the worldwide markets for Automotive Aftermarket in US$ Million by the following Product Segments: Mechanical Products, Electrical Products, Electronic Products, Exterior and Structural Products, Motor Oil, Fluids and Additives, and Appearance Chemicals.
The report provides separate comprehensive analytics for the US, Canada, Japan, Europe, Asia-Pacific, Middle East & Africa, and Latin America. Annual estimates and forecasts are provided for the period 2015 through 2022. Also, a six-year historic analysis is provided for these markets. Market data and analytics are derived from primary and secondary research. Company profiles are primarily based on public domain information including company URLs.
Asia BD price drop… Nike sales… Clariant-Huntsman link-up… Michelin buys wine reviewer… Conti acquires… Eversafe Rubber… SKF sued ?… Firestone leak… UK down… Kumho limbo… Thai NR…
Summary of Latest News and Events in the Global Rubber Industry …
June
21/6 Indonesian authorities are unfazed by a recent drop in natural rubber prices as market fundamentals remain strong, Reuters has reported. According to…