Tag: merger

Tructyre ATS transition now complete

Tructyre ATS transition now complete

11th July 2019 | 0 Comments

Last October, Tructyre ATS announced plans to create a new nationwide tyre management specialist with the merger of Tructyre and ATS Euromaster’s heavy tyre operation. The company says that after “eight months of hard work” it has completed this transition.

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Marangoni and Vipal announce partnership

Marangoni and Vipal announce partnership

5th December 2018 | 0 Comments

Marangoni Spa and Borrachas Vipal SA have announced that the two retreading material suppliers have entered into a partnership agreement aimed at “increasing the synergies and productivity, strengthening the industrial and commercial organisation of both groups”. Details of precisely what this means are still scarce but, according to a statement issued by Marangoni, this will lead to the creation of “the largest global independent player in the tyre retreading sector”.

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Continental, Bandvulc fleet services merging

Continental, Bandvulc fleet services merging

12th November 2018 | 0 Comments

In the more than two years since Continental Tyre Group acquired Bandvulc, both the Conti360° Fleet Services network and the Bandvulc Plus+ fleet services continued to run in parallel, with customers receiving services from both brands. This will now change – Continental Tyre has announced the merger of Conti360° and Bandvulc Plus+. The two operations will unite as Conti360° Fleet Services, with Bandvulc’s key partners joining Continental’s current Conti360° Fleet Services.

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Tructyre, ATS Euromaster merging heavy tyre businesses

Tructyre, ATS Euromaster merging heavy tyre businesses

15th October 2018 | 0 Comments

When Michelin acquired truck tyre supplier and service provider Tructyre almost a year ago, it gained one of the UK’s most successful independent commercial vehicle tyre management groups. It now intends to evolve this asset into Britain’s largest national heavy tyre business by merging Tructyre with the heavy tyre operation currently belonging to ATS Euromaster.

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Bain Capital building ‘European tyre distribution group’

Bain Capital building ‘European tyre distribution group’

18th October 2017 | 0 Comments

This year specialist private equity firm Bain Capital has been busy making strategic acquisitions in the European tyre wholesale and retail sectors. First off the company bought Italian tyre wholesaler Fintyre from previous owners Bluegem Capital back in March. Then at the end of June the firm added the German Reiff operation to its portfolio, an acquisition that was subsequently approved by the EC in August. Tyres & Accessories recently interviewed Ivano Sessa, one of Bain Capital Private Equity’s managing directors, and learnt that there are plans for further mergers and acquisitions with a view to creating a “larger tyre distribution group across Europe”.

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Kumho takeover implosion isn’t the end of market consolidation attempts

9th October 2017 | 0 Comments

No I am not talking about the unqualifiable rumours that Doublestar made an offer of up to 250 million euros for Zenises. Rather, that in the first week of September we learnt that Doublestar’s proposed acquisition of Kumho was collapsing before the firm’s eyes after the Qingdao-Chinese tyre manufacturer asked for a double-digit discount. And it is also worth considering what all this means for the wider tyre manufacturing sector.

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Aeolus continues to rise in Chinese tyre market

4th October 2017 | 0 Comments

With one industry insider calling ChemChina’s acquisition of Pirelli “a genius move”, it would have been remiss of us not to take the opportunity to spend time with new Aeolus general manager Giovanni Pomati and find out more about how the changes affect the best-known ChemChina brand (Aeolus) and the company’s views on the latest changes in the Chinese marketplace during Tyres & Accessories recent visit to China.

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Zircotec Group acquires Performance 1 Coatings

1st September 2017 | 0 Comments

The Zircotec Group has acquired performance exhaust coating and thermal management specialist Performance 1 Coatings (P1C). The takeover, which includes 100 per cent of the P1C business, widens the breadth of Zircotec Group’s product range, which now includes high quality performance coatings at every price point. The group states that the buy-out will enable P1C and its performance aftermarket customers to benefit from future product enhancements by Zircotec’s technology, OE-expertise and extensive in-house R&D facilities.

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Working hand-in-hand: Obo Tyres anticipates synergies with Magna Tyres Group

Working hand-in-hand: Obo Tyres anticipates synergies with Magna Tyres Group

13th April 2017 | 0 Comments

While spent revellers slept or nursed New Year’s hangovers and the well-meaning scribbled out resolutions they’d struggle to keep for a week, let alone a year, on 1 January Obo Tyres began something more significant. The first day of 2017 was also the Dutch retreader’s first as member of the Magna Tyres Group. The acquisition of Obo was announced shortly before the festive season got under way, and the new arrangement enables Magna, a specialist in the field of new off-highway and truck tyres, to offer its range as a full lifecycle portfolio. The benefit to Obo Tyres is measurable in terms of access to new markets, improved casing supply and the opportunity to develop new and qualitatively superior products.

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Reports: ChemChina interested in Kumho

17th October 2016 | 0 Comments

ChemChina is said to have expressed interest in Kumho Tire Co., according to Korean news source. Citing “industry sources” Pulse News said ChemChina “signed a non-disclosure agreement (NDA) with creditors of Kumho Tire last month and began preparing for an official bid. The Chinese company selected Boston Consulting Group to advice on the deal.”

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Rubber business included in Sibur division merger

11th April 2016 | 0 Comments

Russian gas processing and petrochemicals company Sibur has announced that it will merge its Synthetic Rubbers Division and Plastics and Organic Synthesis Division into a single business unit. This will be known as the Plastics, Elastomers and Organic Synthesis Division. Pavel Lyakhovich, managing director of Sibur’s former Plastics and Organic Synthesis Products Division and member of the company’s Management Board, takes charge of the newly-merged division.

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Pirelli truck tyres separating and merging with Aeolus/ChemChina

Pirelli truck tyres separating and merging with Aeolus/ChemChina

21st March 2016 | 0 Comments

Pirelli’s Chinese owner ChemChina has officially entered into negotiations relating to the separating out the Italian firm’s truck tyre business in order to combine it with Aeolus and the three other ChemChina-owned tyre businesses.

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Point S/Däckteam partnership is the largest tyre retailer in Sweden

5th January 2016 | 0 Comments

Point S Development’s existing network in Sweden has joined forces with Däckteam to form the largest independent tyre dealer network in the country.

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 Pirelli reverse merges with Marco Polo

23rd December 2015 | 0 Comments

Pirelli & C. S.p.A. is to officially reverse merge with Marco Polo Industrial Holding S.p.A. This transaction will be submitted to the extraordinary shareholders’ meetings on 15 February 2016, with a view to completing during the first half of 2016.

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Icahn returns with higher Pep Boys offer

21st December 2015 | 0 Comments

The bidding war for The Pep Boys – Manny, Moe & Jack has entered a new round, with Icahn Enterprises L.P. offering an extra dollar per share to acquire the US automotive aftermarket retail and service network – a total of around US$56 million more than the offer it made earlier this month. This higher figure has found favour with the Pep Boys Board of Directors – after consultation with legal and financial advisors it determined on 20 December that Icahn’s proposal to acquire Pep Boys for US$16.50 per share in cash constitutes a ‘Superior Proposal’.

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