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You are here: Home1 / consolidation

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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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Related news:

  1. Ukraine war continues putting tyre production under pressure
  2. Ready for take-off: is Dunlop Aircraft Tyre Ltd (DATL) up for sale?
  3. Premium tyremakers continue to lead global top 20
  4. Nokian Tyres investing 650 million euros in greenfield factory in Romania
5th January 2023/by Chris

Titan International shares up 49% after market consolidation reports

Company News, International News

What a difference a month makes. Titan International shares are trading 49 per cent higher now than they were before Christmas. The difference? The news that competitor Trelleborg is in talks with “external parties” relating to the sale of its Trelleborg Wheel Systems (TWS) industrial/OTR tyre business and subsequent market comments publish by Titan chairman Morry Taylor.

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Related news:

  1. Titan receives additional settlement put option notice
  2. Yokohama to buy ex-Pirelli commercial/industrial tyre business Prometeon
  3. Titan International sells Wheels India share
  4. Trelleborg confirms acquisition interest from ‘external parties’
10th January 2022/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

Yongtai Group enters administration

Company News, International News, Premium

The Chinese Yongtai Group, which once ranked as the 32nd largest tyre manufacturer in the world and which used to produce World Rally Championship tyres for DMack as well as the well-known Durun budget brand, is bankrupt. Shandong Yongtai Group Co., Ltd. officially entered administration on 16 July 2018. On 4 August 2018 Shandong Dongying Intermediate People’s Court published documents showing that Guangrao County-based Caijin Asset Management Co., Ltd.’s application for Yongtai to enter administration had been accepted. The Beijing-based Dacheng (Jinan) law firm was appointed as the administrator of Yongtai Group.

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Related news:

  1. CITExpo 2018: still room for small-medium Chinese players, though times are tough
  2. Dmack targeting ‘correct’ dealers to deliver mid-range PCR strategy
  3. Show review: Reifen China 2014
  4. Deruibao Tire enters ‘restructuring’ proceedings
17th August 2018/by Chris

European FinTyre Distribution buys Reifen Krieg

Company News, International News

European FinTyre Distribution Limited (EfTD), one of the largest Pan European tyre distributors, has agreed to acquire the privately held Reifen Krieg Group, a leading full-range tyre wholesaler in Germany. As a result, EfTD is set to become the market leader in two key European countries, Germany and Italy, with 1.1 billion euros of total revenue. According to EfTD, Reifen Krieg’s current owners, Holger Krieg and Tobias Fink, will continue as the group’s managing directors

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Related news:

  1. Fintyre to open London head office
  2. FinTyre buys RS Exclusiv Reifengrosshandel and TyreXpert Reifen + Autoservice
  3. EC clears Bain Capital’s acquisition of Reiff’s tyre distribution business
  4. Restructuring announced as Fintyre Group misses January wages
14th June 2018/by Chris

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

Ready for take-off: is Dunlop Aircraft Tyre Ltd (DATL) up for sale?

Company News, International News, News, Premium, Product News, Retreading, UK News

While the vast majority of the UK’s tyre production and retreading capacity refers to trucks and a relatively small amount of car tyre retreading still takes place as well as some specialist earthmover retreading, one of the nation’s largest retreaders makes aircraft tyres. Dunlop Aircraft Tyre Ltd or DATL as it is known has demonstrated strong growth in recent years and is majority-owned by private equity. Put the two together and it begs the question – is Dunlop Aircraft Tyre Ltd (DATL) up for sale?

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Related news:

  1. Dunlop Aircraft Tyres confirms sale talks
  2. Dunlop Aircraft Tyres to open US retread facility
  3. Dunlop Aircraft Tyres invests £4m into UK manufacturing
  4. Kumho takeover implosion isn’t the end of market consolidation attempts
23rd September 2016/by Tyrepress Editors

Reports: Deruibao bankrupt

Company News, International News

Reports suggest that struggling Shandong, China-based tyre manufacturing Deruibao tyre has now officially declared bankruptcy. As Tyres & Accessories reported in February, the company called on local Grungrao County officials for support who tried to restructure the business. Qingdao Doublestar and Hengfeng tyre were also linked to the firm as possible buyers.

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Related news:

  1. Deruibao Tire enters ‘restructuring’ proceedings
  2. Yongtai Group enters administration
  3. Guangrao County Delegation Visits Brityrex
  4. Deruibotire Targets 24 Million Tyres Produced in 2011
8th July 2015/by Tyrepress Editors

Now Pirelli’s been sold, who’s next?

Company News, Editorial/Comment

In case you haven’t heard, as much as 65 per cent of Pirelli is in the process of being sold to ChemChina. It’s a complex plan and there’s a long road ahead, but the deal has been done and so takeover wheels are in motion (see page 28 for complete coverage of this part of the story). So what’s next? The deal can’t fail to have an impact at Pirelli, but what about the other top five tyre manufacturers and beyond? We hinted at market consolidation in this column last month, with reference to restructuring proceedings at Shandong Deruibao Tire Co., Ltd and possible contagion in China; and Pirelli CEO Marco Tronchetti Provera made the market aware of that he was planning to sell his stake within two years in January 2014. But few would have named this particular bidder and this particular timing. Now we are faced with the possibility, even the likelihood that the Pirelli/ChemChina deal is going to precipitate further micro and macro consolidation within the tyre market – even a re-shuffle of the tyre industry’s top 10.

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Related news:

  1. Pirelli/ChemChina deal, the story so far
  2. Will sale to ChemChina alter Pirelli’s motorsport focus?
  3. Kumho takeover implosion isn’t the end of market consolidation attempts
  4. Pirelli truck tyres separating and merging with Aeolus/ChemChina
30th March 2015/by Tyrepress Editors

Point S focuses on consolidation following growth years

UK News

Point S used the platform provided by the Reifen show in Essen to promote a new private brand tyre, a new Point S website and, of course, to meet with members and suppliers. Tyres & Accessories met with Fabien Bouquet, deputy managing director of Point S Development as well UK managing director John Cowderoy and network development manager Dean Dyoss to find out more.

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Related news:

  1. 6 new retailers join Point S UK
  2. Kerr’s tyres joins Point S
  3. Point S presenting consolidation strategy at Reifen
  4. ‘Obligations not fulfilled’ – Point S Development gives its side of the Dutch break-up story
3rd July 2014/by Tyrepress Editors

Point S presenting consolidation strategy at Reifen

Company News, International News

While Point S used the 2012 Reifen show to announce the signing of partnership agreements in South Africa, Slovenia and Canada, at this year’s event the retail cooperatives will be reporting details of its consolidation strategy.

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Related news:

  1. Reifen debut for latest additions to point S private brand
  2. Continental plans a comprehensive Reifen show presence
  3. Point S focuses on consolidation following growth years
  4. Triangle takes westward steps
22nd May 2014/by Tyrepress Editors

Continental lifts 2014 EBIT outlook

Company News

After what it says was “a successful start to the new year,” Continental Corporation has raised its adjusted EBIT outlook. “For fiscal 2014 we intend to comfortably achieve an adjusted EBIT margin of 10.5 per cent instead of the originally advised 10.0 per cent,” announced Continental CEO Dr. Elmar Degenhart at last Friday’s Annual Shareholders’ Meeting.

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Related news:

  1. Continental: €44 billion in sales, 10.8% EBIT margin in 2017
  2. Continental discussing ‘need for action’ with employee representatives
  3. Continental withdraws outlook for ‘uncertain’ 2020
  4. Continental CEO Degenhart resigns
28th April 2014/by Tyrepress Editors

Michelin FY2013 net profits down 28 per cent…

Company News

Michelin has reported full year 2013 net sales of 20.247 billion euros, down 5.7 per cent (or 1.2 billion euros) on last year. Meanwhile operating income was fell roughly 10 per cent to 2.234 billion euros and net income plummeted some 23 per cent to 1.127 billion euros. According to Dow Jones analysts’ consensus was that this figure would fall less – by 22.0 per cent, and operating profit to retreat by 5.8 per cent.

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Related news:

  1. Analysts: Michelin H1 Results “Good”
  2. Analysts: Michelin 1Q figures below consensus
  3. Conti Hails ‘Record Breaking’ Second Quarter
  4. Strong Truck Tyre Demand Means Short Supply in Europe
12th February 2014/by Tyrepress Editors

Yokohama and Kumho sign technology exchange, capital alliance MOU

Company News, International News

The Yokohama Rubber Co., Ltd. And Kumho Tire Co., Inc. signed a Memorandum of Understanding (MOU) on 29 November. The companies report that they have agreed to open discussions relating to technology exchanges and a capital alliance based on “cross-shareholdings”.

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Related news:

  1. Kumho takeover implosion isn’t the end of market consolidation attempts
  2. From Birmingham to Beijing, on Goodyear tyres
  3. Cooper expresses ‘surprise’ at off-take reports
  4. Chinese recall of 75,000 Kumho-shod cars announced
2nd December 2013/by Tyrepress Editors

Pirelli 1H earnings down, but growing in 2Q

News

Announcing its results for the first half of 2013, Pirelli has shown a year on year 6.1 per cent reduction in earnings before interest and taxes compared with the first half of 2012. This occurred in spite of a second quarter in which the manufacturer saw signs of improvement, with revenues climbing 8.8 per cent on 2Q 2012 following a 1.3 per cent YoY reduction in the first three months of the year. However, net profit for the quarter was also some way off that of the 94.9 million euro achieved in 2012, at 78 million euro.

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Related news:

  1. Can Russia Close the Gap Between Itself and Europe?
  2. Amtel-Vredestein debt dispute to be heard on 26 October
  3. Voronezh tyre plant transferred to Pirelli-Russian Technologies JV
  4. Pirelli to supply major Russian garage network
6th August 2013/12,345 Comments/by Tyrepress Editors
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