Merger-and-acquisition activity soared to unprecedented heights in 2018, especially in the North American wholesale and retail sectors.
Prices for raw materials continued to increase in 2018, causing a widespread impact throughout the tire and rubber industries in our No. 3 story of the year.
At the end of 2017, two strong global tire manufacturers almost linked up to form a major player in the industry.
Qingdao Doublestar Industrial Co. Ltd. didn’t give up, and in July finalized a deal to acquire Kumho Tire Co. Ltd. in a $607 million deal, giving it a 45 percent stake and control of South Korea’s second-largest tire maker.
ONTARIO, Calif. — Wanli Tire Corp. Ltd., China’s 19th largest tire maker, has established a U.S. sales office — in partnership with Aufine Group Co. Ltd. — in Ontario to handle sales of Wanli-brand truck and bus tires in the U.S., Canada and Mexico.
JOHANNESBURG, South Africa — Off-the-road tire specialist Magna Tyre Group has opened a regional office in Waterfall City, part of the Johannesburg metropolitan municipality.
QUINCY, Ill.—An affiliate of Russian Direct Investment Fund, one of three shareholders of Voltyre-Prom, has notified Titan International it is exercising a put option on its share in the Russian tire maker, which could be worth up to $76.2 million.
Fort Mill, South Carolina – Tire price hikes continue in North America as Continental and Pirelli announce plans to raise tire prices in the region.
In an 8-Nov statement, Continental Tire the Americas LLC said it planned to raise prices on Continental- and General-branded passenger and light truck tires sold in the US market, effective 7 Jan.
TOKYO—Japanese conglomerate Mitsubishi Corp. and Toyo Tire & Rubber Co. Ltd.
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.
GREENVILLE, S.C.—When it comes to attracting young talent, Michelin North America is among the best, according to Forbes magazine, which recently named the Greenville-based tire maker one of the “Best Employers for New Grads.”