Merger-and-acquisition activity soared to unprecedented heights in 2018, especially in the North American wholesale and retail sectors.
Mergers, acquisitions help to define 2018
2018 Top 10: Raw material volatility
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.
Year in Review: Doublestar, Kumho complete merger after failed attempt in 2017
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.
Wanli sets up U.S. unit to handle truck/bus tire sales in North America
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.
Magna opens regional office in South Africa
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.
Russian investment group seeks to exit Voltyre venture with Titan
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.
Conti, Pirelli raise North America tire prices
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.
Mitsubishi’s increased stake in Toyo increases tire maker’s ability to compete globally
TOKYO—Japanese conglomerate Mitsubishi Corp. and Toyo Tire & Rubber Co. Ltd.
Conti takes full ownership of Sri Lankan tire maker Eu-Retec
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.
Michelin ranks high in attracting young talent
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.”