Posts
Martins acquires Checkpoint
MartinsTowards the end of April, tyre servicing equipment supplier Martins has recently acquired UK company Checkpoint, which is known for its wheel security products. Checkpoint has 30 years of experience in the market that began with founder, CEO and inventor Mike Marczynski.
TrelleborgFurther global leadership and rebalanced product mix – Yokohama’s goals for Trelleborg Wheel Systems purchase
YOHTNow Yokohama has confirmed its acquisition of Trelleborg Wheel Systems (TWS), we can talk more definitively about the rationale behind the purchase. There are several drivers behind the acquisition, but they all boil down to Yokohama’s desire to increase global leadership and rebalances its product mix.
Zhongce Rubber Group acquires Tianli OTR, agricultural tyre manufacturer
ZhongceZhongce Rubber Group (Zhongce) has acquired Tianjin United Tire & Rubber International Co, Ltd (TUTRIC), the manufacturer of the Tianli off-the-road tyre brand. The acquisition means Zhongce will expand its business into the agricultural and giant OTR tyre segments, while bolstering its already strong offering to OTR and industrial tyre markets. Established in 1985 in the coastal city of Tianjin, near Beijing, TUTRIC manufactures 35,000 tonnes of OTR and agricultural tyres per year. The TUTRIC factory at Tianjin covers an area of 480,000sqm, employing more than 1,000 people. Zhongce says the acquisition is the next step in its continued global expansion. The manufacturer is China’s largest tyre-maker, and the world’s ninth biggest in Tyres & Accessories’ 2021 ranking.
HELLA and Faurecia to cooperate in the independent aftermarket
ForviaFollowing the news that HELLA and Faurecia are joining forces, the two automotive suppliers have announced that they will be operating jointly in the aftermarket. This means that Faurecia products will soon also be available through HELLA’s aftermarket division. By bundling activities, not only do customers benefit from a comprehensive range of services, but above all from a significantly expanded product spectrum.
Faurecia acquires Hella
HellaFaurecia, a leading global player in the automotive industry, has successfully completed the acquisition of lighting and electronics specialist Hella after receiving all necessary regulatory approvals. Faurecia acquired a total of approx. 79.5 per cent of the shares in Hella, including the 60 per cent share package of the Hella pool shareholders as well as ca. 19.5 per cent as part of the public takeover offer ended on 11 November 2021. The transaction creates the seventh-largest automotive supplier worldwide and a global market leader in high-growth technology fields.
Continental sells South Africa agricultural and industrial tyre factory assets
Continental AGContinental Tyre South Africa has sold the manufacturing assets it used to make industrial and agricultural tyres in Port Elizabeth, South Africa. Prior to the sale, Continental manufactured bias-ply and radial agricultural tyres at the Port Elizabeth location. Continental’s ongoing production operations, such as its passenger car and light truck lines, are not affected by the news.
Itochu bids $1.7 billion for Hitachi Construction Machinery stake
Hitachi Construction Machinery (Europe) NVHitachi is selling around half its 51 per cent shareholding in Hitachi Construction Machinery Co Ltd for 200 billion yen (£1.271 billion; 1,524 billion euros; US$1.7 billion) to Kwik-Fit’s owner Itochu and investment fund Japan Industrial Partners, according to reports published by Nikkei on 13 January 2022. Itochu confirmed that it is “considering this matter”, but declined to give further details later the same day in a statement that read:
Unlikely to harm competition – regulator approves Michelin’s Allopneus acquisition
French competition regulator the Autorité de la concurrence has approved the Michelin Group’s move to acquire sole control over French tyre e-tailer Allopneus SAS and its subsidiaries. In a statement published on 28 December, the Autorité said it cleared the deal unconditionally in the belief that it is “not likely to harm competition.”
Magna Tyres Group buys Polish tyres dealer Industra
Magna TyresMagna Tyres has agreed to buy Polish tyre dealer Industra Ltd. Financial details have not been disclosed. But Magna Tyres Group did report that it is “on track to increase turnover to 600 million euros in three to five years amd that Industra’s annual net turnover is almost 10 million euros.
Megaride acquires Wriggle Solutions Technologies
Wriggle SolutionsMegaride Applied Vehicle Research has acquired tyre wear and integrity monitoring systems developed by Wriggle. The purchase continues Megaride’s recent expansion of technical know-how in the tyre technology sphere. No details relating to the nature of the investment associated with the acquisition have been released.
Maurice Taylor: Don’t overlook Titan
On 14 December, Tyrepress.com shared information from sources who anticipate a Yokohama Rubber bid to acquire Trelleborg Wheel Systems. While the parties involved have neither confirmed nor denied such a transaction, the chairman of Titan International Inc. (TWI) has commented on a deal he apparently views as problematic.
