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You are here: Home1 / acquisition

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Goodyear approached Cooper Tire regarding multi-billion-dollar acquisition

Company News, International News
Cooper

Cooper Tire wasn’t initially looking to sell when Goodyear chief executive Rich Kramer approached the company, Cooper’s president and CEO told journalists in a virtual press conference on 22 February 2021. Rather, Cooper’s management and board were convinced by Goodyear’s “compelling offer” and “strategic logic”. So, what exactly was it that convinced Cooper’s leadership team?

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Related news:

  1. Cooper finalises Serbian acquisition
  2. Serbia to become PCLT tyre production hub
  3. Cooper Tire reopening US and Serbia tyre factories
  4. Goodyear set to buy Cooper Tire for US$2.5 billion
22nd February 2021/0 Comments/by Chris

The Goodyear/Cooper combination’s synergies; global headquarters to be in Akron

Company News, International News
Goodyear

Explaining the rationale behind Goodyear’s multi-billion dollar acquisition of Cooper Tire, executives said the combination offers “compelling strategic and financial benefits”. Specifically, they suggested the transaction “further strengthens Goodyear’s leading position in the US, while significantly growing its position in other North American markets.” With just two home-grown domestic tyremakers in the US (Goodyear and Cooper), that much is clear. However, the benefits of the announced merger are not limited to North America. In China, the combination will almost double Goodyear’s presence. According to Goodyear, it will also increase the Akron, Ohio-based tyremaker’s OE tyre supply position, while creating broader distribution for Cooper replacement tyres through Goodyear’s network of 2,500 branded retail stores.

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Related news:

  1. Goodyear set to buy Cooper Tire for US$2.5 billion
  2. Goodyear implements direct online sales in US
  3. Veyance Expands Presence into South America
  4. Kumho Raises US Prices
22nd February 2021/0 Comments/by Chris

Goodyear set to buy Cooper Tire for US$2.5 billion

Company News, International News

The Goodyear Tire & Rubber Company and Cooper Tire & Rubber Company have made “a definitive transaction agreement” that will see Goodyear buy Cooper for roughly $2.5 billion. The combined company will have approximately $17.5 billion in pro forma 2019 sales. Upon closing of the transaction, Goodyear shareholders will own approximately 84 per cent of the combined company, and Cooper shareholders will own approximately 16 per cent.

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Related news:

  1. Goodyear implements direct online sales in US
  2. Dunlop Aircraft Tyres confirms sale talks
  3. Doublestar back in pole-position for Kumho purchase
  4. Cooper takes suitor Apollo to court
22nd February 2021/0 Comments/by Chris

Toyo closes loss-making Silverstone tyre plant in Malaysia

Company News, International News
Silverstone

Toyo Tire Corporation is closing its loss-making wholly-owned Silverstone Berhad Malaysian tyre manufacturing subsidiary in June 2021. Established on 12 July 1986 and purchased by Toyo in 2011, Silverstone currently manufactures tyres for (primarily Malaysian) new vehicles and Silverstone branded tyres for the aftermarket as well as certain Toyo branded tyres. The dissolution of the Silverstone subsidiary (Silverstone Berhad) will commence by 31 December 2021.

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Related news:

  1. Toyo’s Shandong Silverstone acquisition finalised
  2. Toyo announces plans for new Malaysian tyre plant
  3. Michelin: Acquiring Multistrada will help meet growing tier 2 tyre demand
  4. Michelin now 99.64% owner of Multistrada
15th February 2021/0 Comments/by Chris

Radburg Center buys Kingpin tyre brand and retread production line

Company News, International News, Retreading
Radburg Center

Kingpin Tyres, one of the last remaining passenger car tyre retreaders in the UK, has sold its Kingpin brand name and retread production line to Romanian retreader SC Radburg Center Srl. The transaction took place during the summer of 2020 following several months of negotiations, representatives of new owners Radburg told Tyres & Accessories during a recent interview.

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Related news:

  1. Dunlop Aircraft Tyres confirms sale talks
  2. Retreader Seryt Tyres reports growth in a time of consolidation and attrition
  3. £7 million fraud suit brought against Vaculug’s former owners
  4. Hankook is transforming itself into a system provider with the help of Reifen Müller
10th February 2021/by Chris

UTAC CERAM completes Millbrook acquisition, new governance introduced

Company News, International News, UK News
UTAC Ceram

In December 2020 French group UTAC CERAM announced that it was buying British test specialists Millbrook, which also owns well-known tyre test centres such as Test World in Finland. The plan is to merge the two companies, creating “a market-leading group in vehicle testing, vehicle type approval and emerging technologies for autonomous, connected and electric vehicles”.

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Related news:

  1. Millbrook buys Test World
  2. Test World wins Tire Industry Supplier of the Year Award again
  3. Test World open for indoor testing
  4. Millbrook’s Test World acquisition followed ‘strategic collaboration’
2nd February 2021/by Chris

LafargeHolcim confirms it will buy Firestone Building Products in US$3.4 billion deal

Company News, International News

The world’s largest cement maker, LafargeHolcim, has confirmed that it will buy Firestone Building Products from Bridgestone Americas in a US$3.4 billion deal. The sale is designed to enable Bridgestone to “strengthen investments in company’s tyre business and fast-growing mobility solutions business”, according to an official statement.

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Related news:

  1. Dunlop Aircraft Tyres confirms sale talks
  2. Bridgestone extends lease on ATW tyre making facility
  3. Bridgestone’s sale of Speedco finalised
  4. Bridgestone expanding OTR tyre production at US plant
7th January 2021/by Chris

ClearCourse acquires Garage Data Systems

UK News

ClearCourse Partnership LLP, a group of technology companies providing software solutions, has acquired Garage Data Systems (GDS). GDS creates business software for motor trade professionals across the UK and Ireland. This deal represents the 23rd company acquired by ClearCourse, and the first in the motor industry. No financial terms of the acquisition have been released.

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Related news:

  1. Compilator buys Team Systems
  2. Blackcircles Partners With RAC in Online Tyre Deal
  3. Tyresoft making a name for itself in the e-commerce niche
  4. Chevin: Future fleet software must support increased autonomous vehicle data security
15th December 2020/by Chris

Nexion acquires Kompunet Informatica

Company News, International News
Nexion

Nexion SpA has agreed to acquire Kompunet Informatica, a leading software and data provider in the automotive sector. As a result, Kompunet will become part of the Nexion Group. Kompunet CEO Antonio Russo will remain in the group carrying out the Kompunet projects.

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Related news:

  1. Nexion acquires Stenhøj Group
  2. Cemb buys M&B Engineering
  3. Hexpol buys 80% of Mesgo for 168 million euros
  4. Univergomma acquires Overgom
19th November 2020/by Chris

Brembo acquires SBS Friction

Company News

Brembo has signed an agreement for the acquisition of a 100 per cent stake in SBS Friction A/S, a Danish company which develops and manufactures sintered and organic material brake pads for motorcycles. The transaction entails a consideration of 224 million Danish Krone, equal to approximately £27 million. The company will pay this using available cash. Enterprise value is 300 million Danish Krone (£36 million). Brembo expects the agreement’s finalisation in the first quarter of 2021.

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Related news:

  1. Brembo EBIT up 40.8 per cent to 251.3 million euros
  2. Reports: Brembo aiming for largescale acquisition
  3. Brembo acquires 2.43% interest in Pirelli
  4. Federal-Mogul showing brake pad developments at Automechanika
19th November 2020/by Stephen

Akron Rubber Development Laboratory buys Engineering Testing Services assets

International News
ARDL

Akron Rubber Development Laboratory, Inc. (ARDL) has purchased all Experimental Services Inc’s (ESI) assets on 16 October, ARDL announced in a statement on 5 November. ESI describes itself as, “An engineering laboratory for engineers and researchers.” Providing static, dynamic, fatigue and vibration testing for the past thirty years, ESI’s focus has “allowed it to become the best at what it does” ARDL stated.

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Related news:

  1. Hexpol buys Valley Processing for $44 million
  2. Dongah Tire & Rubber Acquires Avon Automotive Vibration Business
  3. Hexpol buys Trelleborg’s Czech compounding unit for 65 million euros
  4. Hexpol buys 80% of Mesgo for 168 million euros
11th November 2020/by Chris

Kerr’s Tyres buys Roundabout Tyre & Battery Service

UK News
Kerr’s Tyres

Kerr’s Tyre’s & Auto has acquired Belfast-based Roundabout Tyre & Battery Service. Roundabout Tyre & Battery Service have been operating from Belfast’s outer ring for 31 years. No price details have been released.

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Related news:

  1. Kerr’s Tyres & Auto creates 20 new jobs in £2.5 million investment
  2. Kerr’s invests in 14 new jobs, Newtownards tyre centre
  3. Kerr’s Tyres & Auto to invest £2 million creating 15 new jobs
  4. Kerr’s Tyres buys M & S Tyres Enniskillen
3rd November 2020/by Chris

Le Fooding now a 100% Michelin-owned company

Company News

Michelin has added to its portfolio of non-tyre business assets with the acquisition of all outstanding shares in Le Fooding three years after the two companies first began collaborating. The deal is the culmination of an agreement signed with the co-founders of Le Fooding in 2017 – after Michelin acquired a 40 per cent stake in its share capital – that provided for Michelin’s future acquisition of the remaining interest.

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Related news:

  1. Michelin purchases Mondéos publishing business
  2. Michelin to purchase additional SIPH shareholding
  3. Michelin shows hard surface tyre at Agritechnica
  4. Michelin, Bridgestone interested in TomTom telematics business
29th October 2020/by Stephen

Georg Brunstam appointed president and CEO of Hexpol

Career Tracks, Company News

Hexpol AB (publ) has appointed Georg Brunstam as president and CEO of Hexpol AB (publ) effective 20 November 2020. Georg Brunstam is currently chairman of the Board for Hexpol AB (publ) and had previously been President and CEO for Hexpol AB (publ) 2007-2017.

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Related news:

  1. Hexpol buys Berwin Group for £25 million
  2. Hexpol buys Trelleborg’s Czech compounding unit for 65 million euros
  3. Hexpol buys Preferred Compounding for $232 million
  4. Bloom named president Hexpol Compounding Americas
23rd October 2020/by Chris

Asset manager buys GKN’s wheel business

Company News

German asset management firm Aurelius Equity Opportunities SE & Co. KGaA is acquiring the GKN Wheels & Structures business from GKN. The transaction is expected to complete in November and is conditional on receiving anti-trust approval. Following the deal’s completion, GKN Wheels & Structures will gain an as-yet-undisclosed new name.

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Related news:

  1. Black Belt
  2. GKN Wheels publishes hub catalogue
  3. GKN Wheels reports 300% increase in wheel output at Telford factory
  4. Solideal USA Buys Distributor
22nd October 2020/by Stephen
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