Tag: Indonesia

Michelin now 99.64% owner of Multistrada

Michelin now 99.64% owner of Multistrada

21st June 2019 | 0 Comments

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.

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Top natural rubber produces cutting exports by 240,000 tons

18th March 2019 | 0 Comments

On 6 March, the International Tripartite Rubber Council (ITRC) announced plans to reduce rubber exports by 240,000 tons for the next four months.

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Michelin: Acquiring Multistrada will help meet growing tier 2 tyre demand

Michelin: Acquiring Multistrada will help meet growing tier 2 tyre demand

11th March 2019 | 0 Comments

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.

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Data increasingly important to future prospects in tyre and mobility sectors

Data increasingly important to future prospects in tyre and mobility sectors

11th February 2019 | 0 Comments

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.

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Michelin buys Indonesian tyre manufacturer Multistrada

Michelin buys Indonesian tyre manufacturer Multistrada

23rd January 2019 | 0 Comments

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.

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Interested parties vie to acquire Indonesian tyre maker Multistrada

19th November 2018 | 0 Comments

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.

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IRC Tire: Work begins on JV motorcycle tyre plant

IRC Tire: Work begins on JV motorcycle tyre plant

7th August 2018 | 0 Comments

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.

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Chinese tyre makers off-shoring in Southeast Asia

Chinese tyre makers off-shoring in Southeast Asia

5th July 2018 | 0 Comments

At the end of May, anti-Chinese truck tyre tariffs were implemented. They included nominal (as opposed to percentage) tariffs at levels that surprised many. As a result, supply shortages and challenges at distributors were predicted. Shuttering of some of the lowest cost Chinese tyremakers is also expected. However, speaking to affected firms during the recent Tire Cologne reveals that many are already prepared to source tyres elsewhere. Indeed, the largest manufacturers have been off-shoring for some time. As a result, virtually all the leading Chinese tyre manufacturers already have non-Chinese tyre production in place. Let’s take a look at who’s got what.

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Continental: Working to improve sustainability within Indonesia’s rubber supply chain

Continental: Working to improve sustainability within Indonesia’s rubber supply chain

22nd February 2018 | 0 Comments

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.

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O’Green Tire exhibiting at Tyre & Rubber Indonesia 2018

26th January 2018 | 0 Comments

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.

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Bridgestone establishes regional mining solutions company in Indonesia

18th December 2017 | 0 Comments

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.

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Wonderful Indonesia – Achilles signs co-branding MoU

Wonderful Indonesia – Achilles signs co-branding MoU

14th August 2017 | 0 Comments

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.

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First training for Multistrada-supported football academy

First training for Multistrada-supported football academy

31st January 2017 | 0 Comments

The Paris Saint-Germain Academy in Bali, an initiative jointly set up by the French football team and its tyre partner PT Multistrada Arah Sarana, held its first training session this week. The inaugural training on 28 January marked the start of twelve-month programme that will see six to 19 year olds develop their football skills at sessions held three times a week.

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MRF exhibiting at Tyre & Rubber Indonesia 2017

7th December 2016 | 0 Comments

MRF Tyre has confirmed it will exhibit at Tyre & Rubber Indonesia 2017 from 29 March - 1 April 2017 at JIExpo Kemayoran Jakarta, Indonesia.

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Multistrada celebrates arrival of Paris Saint-Germain Academy in Bali

Multistrada celebrates arrival of Paris Saint-Germain Academy in Bali

5th December 2016 | 0 Comments

Yesterday in Bali, French football team Paris Saint-Germain and its tyre partner, Indonesian manufacturer PT Multistrada Arah Sarana. Tbk, announced the forthcoming opening of a year-round Paris Saint-Germain Academy run by Indonesian first-division club Bali United. This announcement is supported by the implementation of an exchange programme on training skills and methodology between both clubs through the Parisian youth development academy.

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