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You are here: Home1 / acquisitions

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What 2022’s most popular tyre industry stories tell us about the future

Company News, Editorial/Comment, International News
Aron Visuals; Unsplash

Those that don’t learn from history are doomed to repeat it. The well-known saying might not be completely transferable to this column, but as we kick-start 2023 analysing the most popular stories on our Tyrepress.com website does help us understand what the major themes of last year were. And a closer look at those themes will reveal which issues are continuing into this year. January’s magazine focuses on the ever-resilient agricultural tyre sector (see Tyres & Accessories, January, page 36 onwards) as well as the latest developments in the TPMS and sensor technology segment (see page 20), but first let’s take a look at the biggest stories of 2022 as recorded online.

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  4. Nokian Tyres investing 650 million euros in greenfield factory in Romania
5th January 2023/by Chris

Key tyre industry themes for 2022: acquisitions, consolidation and sustainability

Editorial/Comment
Dendoktoor

A quick glance at our recent top 10 articles of 2021 email offers a unique overview of the major themes of the last 12 months. Since most of those issues are ongoing stories, they bring with them a useful insight into some of the things we can expect in 2022 – an insight that can be summarised by these three words: acquisitions, consolidation and sustainability.

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Related news:

  1. Clever tyres – how tyres, TPMS and RFID are combining
  2. Kumho takeover implosion isn’t the end of market consolidation attempts
  3. Who cares what tyres are made from? – BTMA
  4. Eurotire Becomes Global PressurePro Distributor
6th January 2022/by Chris

More than just products: T&A speaks with TWS’ Paolo Pompei

Company News

Tyre makers have a lot on their minds these days. In addition to experiencing an extraordinary couple of years that began with a virus and then mutated into a succession of rising input prices, they also need to think far beyond the traditional product development cycle. Legislation and end user expectations are driving manufacturers to explore new materials and achieve greater sustainability, while at the same time evolving technology means a growing focus upon connectivity and services. We recently caught up with Paolo Pompei to find out how Trelleborg Wheel Systems (TWS) is addressing these key issues.

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Related news:

  1. Trelleborg finalises acquisition of Mitas manufacturer, CGS Holding
  2. ‘Planning, communication’ help Trelleborg implement plans during pandemic
  3. Massey Ferguson concept wears Trelleborg carbon-free tyres
  4. Trelleborg acquires Mitas parent company, CGS Holding
23rd December 2021/by Stephen

Halfords Autocentres reports 89.6% increase in pre-tax profit – next stop ‘market leadership’

Company News, Premium, UK News
Halfords

The Halfords Group reported a strong set of full-year 2021 that saw the company generate total sales of 1,292.5 million in 2021, up 13.1 per cent compared with the 2020 financial year (2020: 1,155.1 million). The financial report, which was published on 17 June 2021, shows that by all measures pre-tax profits skyrocketed. Indeed, Halfords Group reported profit before tax after the impact of IFRS 16 of £64.5 million, which amounts to a headline-grabbing increase of 184.1 per cent compared with the previous year.

Halfords Autocentres accounted for an increasing proportion of the group’s overall sales figures, reporting 2021 sales of £252.5 million, up 31.6 per cent compared with 2020’s £194.1 million.

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Related news:

  1. McConechy’s Tyre Service Ltd sold to Halfords for £8.5 million
  2. Halfords’ major tyre retail play
  3. Halfords reports £1 billion annual group revenues, a year earlier than planned
  4. Goodyear and Halfords moves represent the virtualization of the tyre distribution chain
23rd June 2021/by Chris

Fitch rating affirmation partially affirms Goodyear Cooper acquisition strategic logic

Company News, International News
PublicDomainPictures; Pixabay

The day after Goodyear announced that it is buying Cooper Tire for north of $2.5 billion, Fitch Ratings affirmed its Long-Term Issuer Default Ratings of The Goodyear Tire & Rubber Company (GT) and its Goodyear Europe B.V. (GEBV). Fitch also affirmed its ratings on a number of specific funding lines. Both moves can be interpreted as partially affirming the Goodyear Cooper acquisition’s strategic logic – something that was described as compelling by the senior executives of both companies.

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Related news:

  1. Goodyear set to buy Cooper Tire for US$2.5 billion
  2. The Goodyear/Cooper combination’s synergies; global headquarters to be in Akron
  3. Cooper shareholders approve Goodyear merger
  4. Goodyear and Cooper shares up 30% after takeover news
24th February 2021/by Chris

Halfords’ major tyre retail play

Company News, UK News
Halfords Autocentres

The last few weeks have seen well-known automotive retailer and autocentre owner Halfords Group make a major move into the tyre retail space. Of course, this is nothing new, the company has been travelling towards tyre retail for about a decade. The last push of this scale was in February 2010 when the company bought Nationwide Autocentres for £73 million – a move that was laden with history of its own.

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Related news:

  1. McConechy’s Tyre Service Ltd sold to Halfords for £8.5 million
  2. Goodyear and Halfords moves represent the virtualization of the tyre distribution chain
  3. Halfords buys Tyres on the Drive for £746,000
  4. The growing influence of autocentres on tyre retail
14th November 2019/by Chris

McConechy’s Tyre Service Ltd sold to Halfords for £8.5 million

Company News, Premium, UK News
McConechy's

Halfords Group plc bought McConechy’s Tyre Service Limited, the sixth-largest tyre retail business in the UK, on 7 November 2019 for £8.5 million. This makes the newly-expanded Halfords Autocentres the second largest tyre retailer in the UK.

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Related news:

  1. Halfords’ major tyre retail play
  2. Halfords Buys Nationwide Autocentres for £73.2 million
  3. Nationwide Autocentre Purchase Brings Halfords Full Circle
  4. Goodyear and Halfords moves represent the virtualization of the tyre distribution chain
13th November 2019/by Chris

Trail enters into an exclusivity agreement for the acquisition of Electropoli

Company News

Trail, the European private equity investment firm, today announces the signature of an exclusivity agreement to acquire Electropoli, a leading provider of surface treatment services in Europe, notably for the automotive industry.

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Related news:

  1. National Tyres and Autocare board approves leases for 10 new branches
  2. Euro Car Parts acquires Arleigh
  3. LKQ Corporation acquires Andrew Page
  4. Continental has billions for automotive sector acquisitions
29th March 2019/by Andrew

Kordsa buys US firms Fabric Development Inc and Textile Products Inc

International News

Kordsa has spent roughly US$100 million buying Fabric Development Inc (FDI) and Textile Products Inc. (TPI), which provide advanced composite materials to the commercial aviation industry. With these acquisitions Kordsa aims to follow the same path that led to leadership in tyre reinforcement technologies.

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Related news:

  1. Kordsa Global a ‘great place to work’
  2. Kordsa presents at Michelin Movin’ On event
  3. Kordsa presents lightweighting concepts at Movin’On
  4. Kordsa wins Platin Global 100 award
30th July 2018/by Chris

European FinTyre appoints Massimiliano Messina as CFO

Career Tracks, Company News, International News

European FinTyre Distribution Limited (EfTD) has appointed Massimiliano Messina as chief financial officer of the group.

Messina role makes him responsible for optimising the financial resources of the group and securing the synergy between its different companies. In addition, he will coordinate the merger and acquisition activity with the support of the management team and will report directly to Mauro Pessi, CEO of the group.

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Related news:

  1. Nokian Tyres appoints Hille Korhonen as president and CEO
  2. Cooper Tire names new North American president
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  4. Fintyre Group names Passerini as CEO
30th July 2018/by Chris

Fintyre acquisition shows fast-growing firm is ‘doing OK’

Company News, International News, Premium

European finTyre Distribution (EFD) has been growing rapidly since its private equity owners Bain Capital backed the acquisition of Italian tyre wholesaler Fintyre back in March 2017. Since then the company has been on the acquisition trail, buying Pneusmarket and Franco Gomma in Italy as well as Reiff and most recently Reifen Krieg in Germany – all in order to build a “European tyre distribution group”. Tyres & Accessories recently spoke with Fintyre managing director Mauro Pessi and asked who’s next and what’s the exit plan?

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Related news:

  1. Fintyre to open London head office
  2. EC clears Bain Capital’s acquisition of Reiff’s tyre distribution business
  3. European FinTyre Distribution buys Reifen Krieg
  4. Restructuring announced as Fintyre Group misses January wages
26th June 2018/by Chris

Hankook Tire acquires majority stake in Model Solution

Company News

By acquiring a 75 per cent equity stake in high-tech digital prototype company ‘Model Solution Ltd.’, Hankook Tire hopes to benefit from synergies gained by combining the company’s know-how with that of its affiliate, super-size mould equipment company M&K Technology. The tyre maker paid KRW 68.6 billion (£47.3 million) for the stake.

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Related news:

  1. Trelleborg finalises acquisition of Mitas manufacturer, CGS Holding
  2. Wholesale acquisition: Hankook Tire buys Reifen Müller
  3. Interested parties vie to acquire Indonesian tyre maker Multistrada
  4. Hankook launches CMF LAB design database
15th May 2018/by Stephen

Messe Frankfurt buys Forest Exhibitions

UK News

On Wednesday 28th February, Messe Frankfurt bought Automechanika Birmingham organiser Forest Exhibitions.

According to a statement released on 1 March, Messe Frankfurt – the world’s third biggest exhibition organiser and the owner of the Automechanika name – the acquisition is designed to set up a UK subsidiary.

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  1. Automechanika coming to Birmingham
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  4. Exhibitor day aims to enhance visitor & exhibitor experience
5th March 2018/by Chris

Continental has billions for automotive sector acquisitions

Company News

In an interview published by German financial daily Börsen-Zeitung on Saturday, chief financial officer of Continental AG, Wolfgang Schäfer, stated that the company has set at least 3 billion euros aside for expanding within automotive markets through acquisitions.

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Related news:

  1. Continental: Net income up 2.1% despite higher in raw material costs
  2. Continental: Tyre division growth behind group average in Q1-3 2017
  3. Stronger euro hits Continental in Q1 2018
  4. Less optimistic: Continental revises 2019 outlook, announces preliminary Q2 results
18th December 2017/by Tyrepress Editors

Kumho takeover implosion isn’t the end of market consolidation attempts

Company News, Editorial/Comment, International News, Premium

No I am not talking about the unqualifiable rumours that Doublestar made an offer of up to 250 million euros for Zenises. Rather, that in the first week of September we learnt that Doublestar’s proposed acquisition of Kumho was collapsing before the firm’s eyes after the Qingdao-Chinese tyre manufacturer asked for a double-digit discount. And it is also worth considering what all this means for the wider tyre manufacturing sector.

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Related news:

  1. Giti enters the top 10 of leading tyre manufacturers
  2. 2015 tyre manufacturer rankings: Stability at the top?
  3. 4×4 or SUV tyre sector?
  4. Triangle returns to China car tyre top 10, Michelin retains top spot
9th October 2017/by Tyrepress Editors
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