Korea’s Hankook Tire is a 19.49 per cent shareholder in Halla Visteon Climate Control Corp after it and private equity firm Hahn & Company acquired the close to 70 per cent company share that Visteon Corp held in the joint venture. Its 50.5 per cent stake makes Hahn & Company the largest shareholder in the climate control system specialist, while Hankook Tire is the second largest. According to a disclosure made to the Korea Stock Exchange, Hankook Tire paid a total of Krw 1.08 trillion (£630.2 million) for the 20.8 million shares it received.
The winter has been fairly mild so far, but this is no reason for complacency when it comes to driving and your car’s tyres. TyreSafe reminds motorists that winter tyres can help them stay safe and mobile on the road, even if we don’t receive a white Christmas this year. The safety organisation recommends a separate set of winter tyres as the safest choice for British motorists, but says all-season tyres also provide an acceptable balance between summer and winter tyre performance.
Regional government ministers in India met with tyre makers on 18 December to discuss rubber prices. Chief minister of the state of Kerala, Oomen Chandy has chaired a meeting which proposed a minimum guaranteed price for rubber growers – a price of around Rs 125 to 130 (£1.25 to £1.30) per kilogramme was suggested. In recent times the price paid to Indian rubber growers has dipped as low as Rs 90 per kilogramme, a price considered unsustainable.
The retreading business belonging to insolvent German tyre company the Reifen Ihle Group now has a new owner. The sales contract was signed late last Friday, and follows the divestment of the firm’s 12 Point S tyre retail centres to regional retailer Reifen Müller at the end of October. R-I-G Technische Produkte GmbH has been acquired by Frankfurt am Main-based holding company Prolimity Capital Partners and will now be operated under a new entity, Rigdon GmbH.
The Toyo Open Country A25, produced at the company’s Toyo Tire Malaysia factory, has been selected as an original equipment fitment on models of the NP300 Navara pickup produced in Thailand. The 12th generation Navara will receive the Open Country A25 in size 255/70R16 111H. The tyres will be delivered through Toyo Tire (Thailand), the local sales subsidiary established in April 2013. This is the first occasion that a tyre produced at the Toyo Tire Malaysia plant has been adopted as an original equipment tyre, and the first time Toyo Tire (Thailand) has supplied tyres to an OEM customer.
Former UK and Ireland director of consumer tyres for Goodyear Dunlop, Jürgen Titz, has been appointed head of consumer replacement for the tyre maker’s Germany, Austria and Switzerland, or DACH, region cluster. In his new role, he will coordinate all consumer tyre-related sales and marketing activities in the three German-speaking countries. Titz will also join the management of Goodyear Dunlop Tires Germany, which is led by George Rietbergen. Jürgen Titz succeeds his brother Frank Titz, who as general manager will lead Goodyear’s business in Russia.
Tire Industry Association has promised to fight a proposal by the US Rubber Manufacturers Association to reinstate a mandatory tyre registration programme, US journal Tire Review reports. During a panel on tyre registration and recalls at the Passenger Vehicle Tire Safety Symposium held by the National Transportation Safety Board, the RMA cited low registration rates of tyres sold by independent retailers as the reason behind the proposal. RMA reported that overall fewer than 20 per cent of all tyres are registered.