Kenda Rubber Industrial has been producing bicycle and motorcycle tyres at its Indonesia plant since 2015. According to local media reports, the Taiwanese manufacturer now wants to move production capacity from China to Indonesia.
Former Maxxis International president Dr Wally Chen is leaving retirement to assume the chairmanship of the company. Dr Chen, who oversaw Maxxis’ rise to the ranks of the world’s top 10 tyre companies, will assume the chairmanship effective immediately following a vote by the company’s board of directors at a recent meeting. He replaces former Maxxis/Cheng Shin chairman Robert Lo (pictured).
Dunlop Aircraft Tyres Ltd (DATL) is planning to invest 1 trillion rupiah (£54.14 million; 64 million euros; US$70.92 million) in an aircraft tyre retreading factory in Karawang, West Java, Indonesia. According to several local news sources, the retreading factory will be followed by a new aircraft tyre production plant as well.
Following a successful public offer, Michelin now holds a 99.64 per cent shareholding in Indonesian tyre maker PT Multistrada Arah Sarana TBK. After acquiring an 87.59 per cent share of Multistrada on 8 March, Michelin launched a public offer for the remaining outstanding shares, at the same price per share as previously offered. The transaction enabled Michelin to acquire an additional 12.05 per cent in the company.
On Friday, Michelin announced its acquisition of 88 per cent of Indonesian tyre maker PT Multistrada Arah Sarana TBK (Multistrada) for US$480 million. The share purchase was completed in line with the terms announced on 22 January 2019 and after obtaining all necessary approvals. As part of the transaction, Michelin also takes on a 20 per cent stake in the tyre retail and automotive service chain PT Penta Artha Impressi, as well as 50 hectares of land.
It is not unusual for the start of the year to be replete with corporate acquisitions. Some even happen while much of the western world is enjoying Christmas and new year holidays. While European FinTyre Distribution (EfTD) did indeed enact the latest move in its ongoing strategic purchasing programme during the 2018 holiday break, it seems that this year February was the month of choice for getting the chequebooks out, with Bridgestone, Michelin and – in the UK at least – Goodyear all announcing strategic spending. For different but connected reasons all three challenge us to consider the impact of changing mobility trends.
Michelin has agreed to buy 80 per cent of PT Multistrada Arah Sarana TBK, the Indonesia-based tyre manufacturer. With a production capacity of more than 180 thousand tons (which equates to 11 million passenger car tyres, 9 million two-wheel tyres and 250 thousand truck tyres), Multistrada generated net sales of US$281 million in 2017.
Quoting sources from the “investment banking industry,” BusinessKorea reports that “a number of global tyre companies” have shown interest in acquiring Indonesia’s second-largest tyre maker, PT Multistrada Arah Sarana Tbk. The publication names Hankook Tire and Michelin as two of the interested parties.
A groundbreaking ceremony took place on 1 August for the joint venture tyre plant that Indonesian tyre maker PT Gajah Tunggal is setting up with Inoue Rubber Co., Ltd., a subsidiary of Japan’s Inoac Corporation. The joint venture, known as IGM, is located in Tangerang, Indonesia and will manufacture motorcycle tyres sold under the IRC Tire brand name.
A partnership between Continental and the German Corporation for International Cooperation (the Deutsche Gesellschaft für Internationale Zusammenarbeit, or GIZ) aims to improve the sustainability of the natural rubber supply chain in Indonesia, the world’s second largest producer of natural rubber. The goals of the collaboration are to develop a criteria catalogue for the sustainable production of natural rubber, to train farmers in sustainable production in accordance with these criteria and to track the rubber from smallholders all the way to production at Continental. By doing so, the partners expect that this optimisation of the supply chain, paired with increases in rubber quality and yield, will generate higher incomes for rubber tree cultivators.
Shandong O’Green Group has announced plans to exhibit at Tyre & Rubber Indonesia 2018.
Established in July 2006, O’Green is located in Guangrao, Dongying, Shandong. The company, covering an area of 360,000 square meters, has a capital of 2 billion yuan and annual output of 3 billion yuan as well as over 2000 staff including 260 technicians.
Bridgestone Corporation today announced it has established PT. Bridgestone Mining Solutions Indonesia (BMSI) from 9 November 2017. BMSI integrates the Bridgestone Corporation Jakarta Representative Office, which provides maintenance services for tyres for construction and mining vehicles, with PT. Bridgestone Engineered Products Indonesia (BSEA-IN), a subsidiary in Indonesia that sells conveyor belts for mining applications. As part of this integration, BSEA-IN has been officially renamed as BMSI.
The Achilles Radial tyre brand is one of 28 brands in Indonesia that recently agreed to promote the ‘Wonderful Indonesia’ tourism initiative. On 8 August, tyre maker PT Multistrada Arah Sarana Tbk and the companies behind the other brands signed a Memorandum of Understanding with the Republic of Indonesia’s Ministry of Tourism.