Tag: joint venture

Clarification: Michelin, Sumitomo Corporation tyre wholesaling JV

Tuesday 9th January 2018 | 0 Comments

In order to clear any consfusion arising from the announcement that Michelin and Sumitomo Corporation of Americas (SCOA) are forming a joint venture to pool tyre wholesale resources in the USA and Mexico, the Micheldever Group has issued a statement stressing that it is not in any way connected with Sumitomo Corporation or its North American subsidiary.

Continue Reading

Michelin, Sumitomo Corporation to pool tyre wholesale resources in USA & Mexico

Thursday 4th January 2018 | 0 Comments

With the creation of a 50-50 joint venture, Michelin North America Inc. says it and Sumitomo Corporation of Americas will form the second-largest player in the United States’ wholesale tyre market. The two companies have entered into a definitive agreement to combine their respective North American replacement tyre distribution and related service operations. The transaction is subject to customary approvals.

Continue Reading

Michelin sells its 40% Double Coin (Anhui) Warrior Tire shareholding

Monday 20th November 2017 | 0 Comments

Michelin has announced the sale of its 40 per cent equity in Double Coin (Anhui) Warrior Tire Co. Ltd. Specifically, as the tyre maker reported today, Huayi Group (Hong Kong) Co., Ltd. will purchase 30 per cent of the equity in the business held by Compagnie Financière Michelin SCmA, and Double Coin Tire Group Co., Ltd. will purchase the remaining ten per cent of the equity, currently held by Michelin (China) Investment Co. Ltd.

Continue Reading

Michelin X Multi range grows with addition of drive sizes

Friday 10th November 2017 | 0 Comments

Michelin’s new X Multi range of commercial vehicle tyres for regional and long haul transportation applications, launched in the UK earlier in 2017 at the CV Show, has been extended with the addition of two new drive sizes – 315/60R22.5 and 295/60R22.5. These X Multi D fitments are particularly targeted at car transporters and low-height 4x2 tractor units, on which they are popular sizes. The manufacturer took the opportunity of the extensions to the X Multi range to host Tyres & Accessories at its recently redeveloped research and development campus in Ladoux, just outside Clermont-Ferrand, introducing one of its latest joint ventures which has helped enhance the production process for the latest Michelin commercial and consumer tyres. It also demonstrated the X Multi range’s performance characteristics against competitors at its proving ground.

Continue Reading

Osram and Continental planning intelligent lighting JV

Monday 6th November 2017 | 0 Comments

Osram and Continental are set to establish an intelligent lighting joint venture. The global joint venture will operate under the name Osram Continental GmbH and have its registered office in the Munich region. Osram and Continental will each have a 50 per cent stake in the joint venture. The aim is to generate annual sales in the mid-triple-digit-million-euro range with a workforce of around 1,500 employees and 17 locations worldwide.

Continue Reading

Zenises denies Doublestar acquisition rumours

Wednesday 13th September 2017 | 0 Comments

Zenises Group CEO, Harjeev Kandhari has denied rumours emanating from the Spanish market that Chinese tyremaker Doublestar has bid as much as 250 million euros for the company. Doublestar and Zenises entered into a European joint venture in October 2016.

Continue Reading

Nexion Group and Bright Technology form joint venture

Nexion Group and Bright Technology form joint venture

Friday 9th June 2017 | 0 Comments

During May’s Autopromotec, leading Italian garage machinery firm Nexion Group and Chinese garage equipment-maker Bright Technology announced that they have formed a joint venture. According to the two companies, the two firms have formed a third company that will allow Bright and the Nexion Group to “assert itself as a leader in the industry and be active on all global markets with a full range in all product segments from the top of the range to the entry level”.

Continue Reading

Yokohama confirms Belshina meeting took place

Wednesday 31st May 2017 | 0 Comments

Yokohama Rubber Co. Ltd. executives have confirmed that the firm’s chairman recently visited Belshina. According to the company, the visit followed earlier meetings with Belarussian managers in Japan. However, Yokohama executives stopped short of confirming joint venture reports and instead issued the following carefully worded statement:

Continue Reading

Reports: Belshina discussing Yokohama JV

Tuesday 30th May 2017 | 0 Comments

Belarusian OTR tyre manufacturer is reportedly discussing the establishment of a joint venture with Japanese tyremaker Yokohama. According to the local Belarusian Telegraph Agency (BelTA), talks were held during a visit from a delegation of Yokohama's executives led by chairman and representative member of the board Tadanobu Nagumo. BelTA cited representatives of Belarusian state petrochemical concern Belneftekhim as its source.

Continue Reading

Bridgestone’s Russia tyre plant to officially open next week

Bridgestone’s Russia tyre plant to officially open next week

Friday 19th May 2017 | 0 Comments

An official opening ceremony for Bridgestone’s new passenger car tyre factory in Russia will be held next Thursday, states the tyre maker. Although commercial production at the Bridgestone Tire Manufacturing C.I.S. LLC facility began last December, on 25 May more than 200 invited guests, including key Bridgestone partners, suppliers and representatives from local, regional, national and also Japanese government authorities, will attend a ceremony at the 81-hectare plant site in the Zavolzhye Industrial Zone, some 560 miles southeast of Moscow.

Continue Reading

Zenises, Doublestar officially confirm strategic partnership

Zenises, Doublestar officially confirm strategic partnership

Tuesday 16th May 2017 | 0 Comments

Qingdao Doublestar and Zenesis have made their first official comment on their operational joint venture, Doublestar Europe. Tyrepress.com reported last year that the company had been formed on 22 September 2016 between the Zenesis Group and the top five Chinese tyre manufacturer.

Continue Reading

Continental enters mobility services JV in China

Thursday 20th April 2017 | 0 Comments

In order to increase its activities in the new mobility services market, Continental has signed a strategic joint venture contract with China Unicom Smart Connection (CUSC), an end-to-end service and operations provider for the connected car market and fully owned subsidiary of mobile network operator China Unicom. The contract was signed on 19 April and creates a joint venture that, in Continental’s words, “aims to establish and operate as a world class ITS solution provider to satisfy the increasing market demands in China.”

Continue Reading

China recycling plant and joint venture: Enviro signs MoUs with Vanlead Group

China recycling plant and joint venture: Enviro signs MoUs with Vanlead Group

Tuesday 4th April 2017 | 0 Comments

State-owned Chinese firm Guangzhou Vanlead Group, parent company of Wanli tyre brand manufacturer South China Tire & Rubber Co., Ltd, has signed two memorandums of understanding with Swedish firm Scandinavian Enviro Systems. The first of these covers the establishment of a turnkey recycling plant in Guangdong province, and the second the setting up of a joint venture to market Enviro’s patented technology across China.

Continue Reading

Reliance-Sibur JV to set up halogenated butyl unit

Reliance-Sibur JV to set up halogenated butyl unit

Wednesday 18th January 2017 | 0 Comments

Reliance Sibur Elastomers Private Limited (RSEPL), a joint venture between Russian gas and petrochemicals company Sibur and India’s Reliance Industries Limited (RIL), has announced plans to establish southern Asia’s first halogenated butyl rubber unit at RIL’s integrated petrochemical facility in Jamnagar, India. Halogenated butyl is a key ingredient in the manufacture of tubless tyre inner liners.

Continue Reading

Nexen Tire begins Japan joint venture

Nexen Tire begins Japan joint venture

Tuesday 17th January 2017 | 0 Comments

Travis (Ho-chan) Kang, chief executive officer of Nexen Tire, has taken part in the official inauguration of a new joint venture company set up to sell the Nexen and Roadstone tyre brands in Japan. The joint venture is called Nexen Tire Japan Inc. and is 51 per cent owned by Nexen Tire, with Toyota Tsusho Corporation, the Toyota Group’s trading arm, holding the remaining 49 per cent share.

Continue Reading