Tag: Doublestar

Kumho delisting from London Stock Exchange

18th March 2019 | 0 Comments

Kumho Tire plans to delist its shares from the London Stock Exchange (LSE) at the end of April 2019, according to South Korean company filings.

Continue Reading

Kumho the strongest ‘local’ in South Korea’s aftermarket

Kumho the strongest ‘local’ in South Korea’s aftermarket

6th March 2019 | 0 Comments

It may not be the best-selling Korean tyre brand worldwide, but at home Kumho outsells its domestic rivals. Data from the Korea Tire Manufacturers Association (KOTMA) indicates that 6.52 million replacement market Kumho tyres were sold in South Korea in 2018. This is more than 40 per cent of all locally-made tyres sold in the country.

Continue Reading

Reports: Kumho “struggling” to find CEO

12th February 2019 | 0 Comments

Kumho Tire has been struggling appoint new company leadership after its previous chairman left following Doublestar's purchase of the company.

Continue Reading

Doublestar car tyres on-sale in Carrefour Spain

Doublestar car tyres on-sale in Carrefour Spain

29th November 2018 | 0 Comments

Doublestar Tyres, the new majority shareholder of Kumho, recently announced that its tyres are on-sale alongside premium brands at Carrefour supermarkets in Spain. According to Doublestar, which compared Carrefour founded in 1959 to Walmart in the USA, the supermarket chain is Europe's favourite. Having pioneered the so-called hypermarket approach in Europe Carrefour has developed into the largest retailer in Europe and the second largest international retail chain group in the world, with business scope covering more than 40 countries and regions. Carrefour owns 17 large chain stores in Spain, which covers the Iberian area and radiates to the whole pan-European region. With an annual population of 400 million, Carrefour is a perfect channel for product sales and a perfect platform for brand exposure.

Continue Reading

Doublestar names Antonio Smith as general director for Spain and Portugal

Doublestar names Antonio Smith as general director for Spain and Portugal

21st November 2018 | 0 Comments

Qingdao Doublestar Group, recently named Antonio Smith Montero as general director for the company in Spain and Portugal. With this announcement the company, which recently acquired Korean manufacturer Kumho Tire and is well-known for its Doublestar, Crossleader and Aosen brands has underlined its commitment to the Iberian tyre market.

Continue Reading

Tire+ 2018 opens

16th November 2018 | 0 Comments

The second edition of the Tire+ exhibition, organised by China United Rubber Company, got underway today in Guangzhou, Guangdong Province China at the world-famous Canton show ground. The show runs in parallel with the large-scale Guangzhou Autoshow (itself a top three automotive event in China) as well as the China Essen Motor Show and continues until 19 November.

Continue Reading

Kumho Tire to aid Pakistani firm’s entry into tyre manufacture

Kumho Tire to aid Pakistani firm’s entry into tyre manufacture

27th September 2018 | 0 Comments

Under a technology transfer agreement signed with Pakistan-based battery manufacturer Century Engineering Industries, South Korean tyre maker Kumho Tire will provide technological and manufacturing know-how as Century establishes its own tyre production plant. The agreement signed in Seoul today covers the ten-year period to September 2028; Century Engineering will initially pay Kumho Tire US$5 million and 2.5 per cent of turnover for the assistance provided, with the contract scheduled for review after five years.

Continue Reading

Yokohama Rubber ends technology tie-up with Kumho Tire

9th August 2018 | 0 Comments

A new beginning, and also an end: 6 July, the date on which Doublestar Tire’s acquisition of a 45 per cent share in Kumho Tire was officially completed, was also the day a full stop was placed behind more than four years of technological cooperation between Yokohama Rubber and Kumho Tire. In a statement issued today, Yokohama Rubber informs that it terminated these tie-ups according to their terms and condition following the change in Kumho Tire’s controlling shareholder.

Continue Reading

Doublestar acquisition of Kumho Tire completed

Doublestar acquisition of Kumho Tire completed

11th July 2018 | 0 Comments

A ceremony was held on 6 July to mark to completion of Doublestar Tire’s acquisition of a 45 per cent share in Kumho Tire. The event in Seoul was titled ‘Celebrating New Beginning’ and was attended by the Chinese and South Korean tyre makers’ management teams as well as representatives from Korea Development Bank, which together with other creditors still maintains a 23 per cent share in Kumho Tire.

Continue Reading

Linglong to become first Chinese global Top 10 car tyre manufacturer by 2019 – analyst

Linglong to become first Chinese global Top 10 car tyre manufacturer by 2019 – analyst

4th June 2018 | 0 Comments

New research by London based independent research company Astutus Research suggests that a domestic Chinese company could be about to join the top 10 global manufacturers of passenger car and light truck (PCLT) tyres. Linglong Tyre, currently ranked 12th globally in the segment by unit sales, is forecast to take tenth place by 2019, replacing South Korea’s Kumho Tyre. The move would make the manufacturer the first from China to enter the PCLT top 10.

Continue Reading

Kumho Tire CEO ‘grateful’ for dealers’ support as first post-acquisition tyre launched

Kumho Tire CEO ‘grateful’ for dealers’ support as first post-acquisition tyre launched

17th May 2018 | 0 Comments

A new owner has arrived on the scene, but it is business as usual for Kumho Tire in Korea. The tyre maker has launched its first new tyre since Doublestar became Kumho Tire’s largest shareholder last month. More than 350 dealers from across South Korea attended the unveiling of the Kumho Majesty 9 Solus TA91 yesterday.

Continue Reading

Kumho Tire delisting as military supplier

8th May 2018 | 0 Comments

A very small percentage of Kumho Tire’s output in recent years was shipped to the Republic of Korea Air Force for its F-16 fighter and T-50 trainer jet, and this military business was a complicating factor in the sale a 45 per cent stake in the tyre maker to China’s Doublestar Tyre. Following the vote to accept Doublestar’s KRW 646.3 billion (£441.9 million) bid, Kumho Tire has requested that South Korea’s government cancel its designation as a defence-related company. This request is now being reviewed.

Continue Reading

Toyo wins latest round of Doublestar legal action

24th April 2018 | 0 Comments

Toyo Tire and Rubber and Toyo Tire USA have prevailed in the liability phase of the company's trade dress infringement and breach of contract suit in Los Angeles Federal Court against Doublestar Dong Feng Tyre and Qingdao Doublestar Tire Industrial.

Continue Reading

Doublestar names GB Tyres as exclusive UK and Ireland distributor

Doublestar names GB Tyres as exclusive UK and Ireland distributor

12th April 2018 | 0 Comments

Qindao Doublestar Overseas Trading Co. Ltd. has appointed GB Tyres UK Ltd, based in Tipton, West Midlands, as the exclusive United Kingdom and Ireland distributor of the Doublestar branded range of radial truck tyres.

Continue Reading

Why Doublestar’s Kumho purchase is a good idea

Why Doublestar’s Kumho purchase is a good idea

6th April 2018 | 0 Comments

15 months after bidding got underway, Qingdao-based Doublestar and its consortium of Chinese banks and investors bought 45 per cent of the South Korean tyremaker Kumho Tire over the Easter weekend. Whatever other clauses are written into the deal, following the release of shares issued for the purpose of the sale, Kumho Tire’s creditors will own a 23.1 per cent shareholding in the tyre maker, down from 42.01 per cent. This makes the Chinese tyre firm controlling shareholders in South Korea’s Kumho Tire.

Continue Reading

[ + ]