As of 1 January, Jörg Burfien has succeeded John DeSalle as president of Hoosier Racing Tire. This role within the 2016-acquired company is the third US-based assignment that Burfien has taken on since joining Continental in 1998.
Hoosier Racing Tire Corp. co-founder Joyce Newton, the matriarch of the company, has passed away at the age of 85. “The thoughts and prayers of Hoosier Tire employees and Distributors are with Joyce’s family,” the company said in a statement.
Hoosier has launched a new line of gravel rally tyres. According to the company, the tyres were in development for two years and were tested and raced at stages in the US, UK and South Africa. Indeed, they have already earned approval from the Motor Sport Association of the UK, according to Hoosier.
When Continental AG announced its purchase of Hoosier Racing Tire last month, it didn’t disclose the price paid for the US-based company. Details of the transaction can be found in Continental’s Q3 2016 financial report, however, and there the company writes that the provisional purchase price for Hoosier Racing Tire was approximately €126 million. This sum was paid in cash, it adds.
John DeSalle has been named president of Hoosier Racing Tire Corporation following the company’s acquisition by Continental. In his new role he will report directly to Dr Jochen Etzel, chief executive officer of Continental Tire the Americas, LLC and Hoosier Racing Tire Corporation.
Germany’s Continental AG has acquired US-based tyre specialist Hoosier Racing Tire for an undisclosed sum. The deal to purchase the formerly privately-owned company was completed on 3 October. The acquisition of Hoosier Racing Tire follows seven years of collaboration with Continental, during which time the two companies worked together on various development and motorsport projects.