Doublestar to acquire financially troubled Hengyu

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Qingdao, China – Doublestar plans to acquire tire maker Hengyu Technology, currently undergoing bankruptcy restructuring, for €118 million (899 million yuan).

The investment will go through Jixing Tire, a subsidiary of Doublestar, said the company’s announcement on 15 March.

Hengyu currently has 650,000 unit annual truck and bus tire capacity and 6 million unit annual passenger car tire capacity on stream since 2015, Doublestar’s board office told ERJ.

Read the source article at European Rubber Journal

Michelin acquires Indonesian tire maker

France: Michelin has completed the acquisition of 88% control of Indonesia’s PT Multistrada Ara Sarana Tbk., producer and marketer of the Achilles and Corsa tire brands as well as a number of private brands.

Michelin paid $439 million (€386 million) for the publicly-listed shares, held by an investment group, the company announced 8 March.

The French tire maker is now launching a public offer for the remaining shares in Multistrada, at the same price it is offering the investor group.

Read the source article at European Rubber Journal

Ravago buys rubber distributor HB Chemical

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Twinsburg, Ohio – Ravago Holdings America Inc has acquired  HB Chemical Inc for an undisclosed amount.

Based in Twinsburg, Ohio, HB Chemical is a North American distributor for the rubber industry.

The company’s product portfolio includes synthetic rubber, accelerators, plasticisers and antioxidants required by manufacturers of rubber and elastomer products.

“HB represents a unique combination of Ravago’s core businesses: polymers and chemicals,” Ravago America CEO Jim Duffy said in a statement.

Read the source article at European Rubber Journal

Continental cleared to acquire Cooper Standard AVS business

Hanover, Germany – Continental Corp. has received necessary approvals from all antitrust authorities to acquire the anti-vibration systems business of Cooper Standard.

The acquisition is now expected to be completed in the first half of the year, Continental said in a 5 March release.

The two parties announced the €230-million deal, which includes five productions sites and R&D facilities, in November last year.

Read the source article at European Rubber Journal

Marangoni acquires Leader Rubber majority shareholding

The Marangoni Group has acquired a majority shareholding, 51 per cent, in the South African tread maker Leader Rubber Company SA (Pty) Ltd. The move is the latest development in the decade-long partnership between Leader Rubber and Marangoni. The Italian company acquired a 25 per cent share in the company in 2015 , a move it described as the “culmination of a partnership that has been ongoing for several years.”

Read the source article at Tyrepress

Germany ready to buy company stakes to safeguard under-threat industry | Reuters

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BERLIN (Reuters) – Germany could take stakes in companies to prevent foreign takeovers in some key technology areas, Economy Minister Peter Altmaier said on Tuesday, presenting a new industrial strategy he said was necessary for the country’s cohesion. The pivot to a more defensive industrial policy is driven by German concerns about foreign – particularly Chinese – companies acquiring German know-how and eroding the manufacturing base on which much of Germany’s prosperity is built.

Read the source article at reuters.com

Michelin finalizes Camso purchase

Michelin has completed its acquisition of Camso under the terms released on July 12, 2018, having obtaining all of the necessary approvals for the transaction. Michelin purchased the solid tire maker for US$1.36bn.

With net sales of US$1bn, Camso has been developing OTR mobility solutions since 1982, including rubber tracks for farm equipment and snowmobiles, solid and bias tires for material handling equipment, as well as track and tire solutions for small heavy equipment.

Read the source article at Tire Technology International

Trelleborg acquires tire service provider and distributor in Canada

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Trelleborg Wheel Systems announced it has signed an agreement and finalized the acquisition of Pneus ICM Inc – a specialized industrial tire service provider and distributor in Montreal, Canada.

Pneu ICM is the second largest industrial tire dealer in the Montreal area, and a main service provider for eastern Canada. With annual sales of approximately C$3.39 Million, this bolt-on acquisition is part of Trelleborg’s strategy to strengthen its positions in attractive market segments.

Read the source article at Traction News

Bridgestone buying Tomtom Telematics for 910 million euros

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Bridgestone Europe NV/SA, the Europe Middle East and Africa (EMEA) subsidiary of Bridgestone Corporation, has entered into an agreement with TomTom to acquire its telematics business for a cash consideration of 910 million euros. Michelin had also been named as a suitor for the business when the news that TomTom Telematics was for sale emerged in November 2018 .

Read the source article at Tyrepress

Mergers, acquisitions help to define 2018

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Merger-and-acquisition activity soared to unprecedented heights in 2018, especially in the North American wholesale and retail sectors.

Read the source article at Tire Business