Merger-and-acquisition activity soared to unprecedented heights in 2018, especially in the North American wholesale and retail sectors.
It appears that Michelin and Bridgestone are interested in acquiring the TomTom Telematics business unit from Netherlands-based company TomTom. According to Dutch financial daily Het Financieele Dagblad (FD), Michelin – one of four companies vying to acquire the business – allegedly aims to add the business into its Michelin Solutions portfolio.
North West Rubber Ltd. (NWR) and Moose Creek Tire Recycling Inc. (MCTR) a Subsidiary of Animat Inc. are pleased to announce their acquisition of the assets of Nexxsource Recycling (and all related companies). The new company will operate under the name Evolve Recycling Inc. (Evolve), and will also include Trillium MC Inc., MCTR’s tire hauling subsidiary. Evolve is headquartered at 300 Henry Street, Brantford, Ontario.
Evolve is the largest transporter and processor of end-of-life tires in Canada, with operations spanning Manitoba and Ontario. Evolve processes these tires into valuable end-products, helping Ontario Producers comply with the Regulations made under the Resource Recovery and Circular Economy Act, 2016, while satisfying the product demands of their customers.
NOVI, Mich.—Certain opportunities are just too perfect to pass up.
Continental A.G.’s Vibration Control business, which produces anti-vibration parts like engine mounts for the automotive industry, has a strong global presence, with 10 manufacturing plants mostly concentrated in Europe. But it needed to enhance its presence in North America.
Cooper Standard Automotive Inc.’s Anti-Vibration Systems business makes similar parts, but its strength is in the U.S. and Canada, with one site in France and two in India through a joint venture.
MONTREAL and MISSISSAUGA, ON, Nov. 8, 2018 /CNW Telbec/ – Groupe Touchette Inc., one of Canada’s largest tire distributors, has taken a major step toward completing its Canadian market coverage by acquiring Atlas Tire Wholesale Inc.—a recognized leader that boasts a strong presence in Ontario. The transaction was announced this morning to both companies’ employees and clients. No reorganization is planned, apart from a few adjustments that may be necessary, and the two companies will gradually integrate the Ontario market over the next year.
The acquisition of Atlas Tire Wholesale Inc. enables Groupe Touchette to expand its operations, mostly in Ontario. Atlas Tire Wholesale Inc. is a leading tire distributor to car dealerships and independent tire retailers and it operates three distribution centres in the Greater Toronto Area, namely in Mississauga, Scarborough and Vaughan, and a fourth one, also in Vaughan, of over 182,000 sq. ft. to be in operation in the spring of 2019, which will become Groupe Touchette’s largest facility. Atlas Tire Wholesale Inc. also has operations in Alberta, namely in Edmonton and Calgary, as well as in Delta, British Columbia. Up to now, Groupe Touchette had been distributing tires in the Ontario market under DT Tire and TireLink from five distribution centres—including one in Brampton to serve the Greater Toronto Area.
Groupe Touchette is, therefore, pursuing the implementation of its business plan, which is aimed at accelerating its growth in the Canadian tire distribution market. With the acquisition of Atlas Tire Wholesale Inc., Groupe Touchette forecasts sales revenues in the range of $550 to $650 million.
AKRON — In a year when Discount Tire/America’s Tire grabbed the North American tire retailing spotlight with the opening of its 1,000th store, mergers and acquisitions continued to play a key role in the evolving retail aftermarket.
KALUTARA, Sri Lanka — Continental A.G. has acquired full ownership of Sri Lankan solid tire maker Eu-Retec (Pvt) Ltd., buying the 49-percent stake it didn’t own from the company’s managing director.
Linglong Tire confirms the signing of a US$300 million deal with Paraguay-based tyre distributor Sunset Tires. Wang Feng, chairman of Linglong Tire, put his signature on a strategic cooperation agreement along with Nabil Chamseddine, chief executive officer and president of Sunset, on 12 October.
BOSTON – Cabot Corp. has acquired Chinese carbon black manufacturing company NSCC Carbon (Jiangsu) Co. Ltd., from Nippon Steel Carbon Co.
Continental has taken over Czech machine tool manufacturer VUK. The acquisition is said to strengthen the tire maker’s presence in Otrokovice, Czech Republic, which is also the home to Continental’s largest tire plant worldwide with 4,500 employees. Together with the new unit Conti will be driving forward the development and production of tire assembly machines to the latest standards.