Yokohama Prometeon bid nearing completion, Aeolus Tyres now involved
In September 2019, Tyrepress.com broke the news that Yokohama is set to buy the ex-Pirelli industrial tyre business Prometeon. Back then, we reported that the deal was at an advanced stage and could be completed before the end of 2019. That clearly didn’t happen, but the deal is still live and the latest news is that it is nearing completion and also involves Aeolus Tyres.
At the start of 2020 industry sources told us that Yokohama decided against buying the ex-Pirelli/Prometeon Egyptian tyre factory on the basis that its processes and equipment were less advanced than Prometeon’s Turkey and South American production bases.
Here’s where Aeolus come in. Aeolus Tyres have reportedly successfully bid for the Egypt plant and began moving in Aeolus-branded moulds in January. Such a move is advantageous to the Aeolus because it helps the company fulfil US demand and at the same time side-step current and future import tariffs levied against Chinese-produced tyres.
Meanwhile, Yokohama has continued the plans we reported in September and is buying Prometeon’s plants in Brazil and in Turkey. ERJ reports that the plans could be completed during the first quarter of 2020.
Promoteon’s official line remains: “Prometeon does not comment on speculation”. Yokohama representatives did not respond to requests for comment.