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You are here: Home1 / sale

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LafargeHolcim confirms it will buy Firestone Building Products in US$3.4 billion deal

Company News, International News

The world’s largest cement maker, LafargeHolcim, has confirmed that it will buy Firestone Building Products from Bridgestone Americas in a US$3.4 billion deal. The sale is designed to enable Bridgestone to “strengthen investments in company’s tyre business and fast-growing mobility solutions business”, according to an official statement.

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Related news:

  1. Dunlop Aircraft Tyres confirms sale talks
  2. Bridgestone extends lease on ATW tyre making facility
  3. Bridgestone’s sale of Speedco finalised
  4. Bridgestone expanding OTR tyre production at US plant
7th January 2021/by Chris

Bridgestone in talks with 2 tyremakers about Béthune factory sale

Company News, International News
Bridgestone

Bridgestone announced plans to close Béthune, France factory back in September 2020. Now, however, the location looks likely to retain a role in the broader automotive sector after the Japanese tyremaker reported that it has identified 24 opportunities relating to the future of the site. Two of the options relate the sale of the site to other tyre manufacturers. Five of the identified projects concern the installation of new activities on the site in tyre and rubber fields as well as batteries and other sectors. Two of the proposals relate to “the installation of activities outside the site”. Nine projects are said to be in the study phase.

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Related news:

  1. Bridgestone temporarily closes, slows tyre production at European factories
  2. French government willing to invest in Bridgestone Bethune rescue
  3. Bridgestone confirms Béthune plant closure
  4. Honda closes Swindon car factory
15th December 2020/by Chris

Pirelli transforming former Ceat factory site into new warehousing centre

Company News, International News
Google CNES/Airbus, Mazar Technologies

Pirelli is constructing a new tyre warehouse to serve its industrial hub at Settimo Torinese in partnership with BGO Logistic Fund 1, which is backed by investment from BentallGreenOak and managed by Kervis SGR SpA, with GSE Italis acting as general contractor. The project will redevelop the industrial area where the Ceat factory once stood near Pirelli’s industrial hub with a view to creating “greater efficiency and environmental benefits”. The project is scheduled to be completed in 2021.

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Related news:

  1. Pirelli: all sustainability indicators improved
  2. Pirelli and Hixih move closer together
  3. Pirelli enters ECPI Sustainability Index
  4. Pirelli expands Romania factory and warehousing
7th December 2020/by Chris

Akron Rubber Development Laboratory buys Engineering Testing Services assets

International News
ARDL

Akron Rubber Development Laboratory, Inc. (ARDL) has purchased all Experimental Services Inc’s (ESI) assets on 16 October, ARDL announced in a statement on 5 November. ESI describes itself as, “An engineering laboratory for engineers and researchers.” Providing static, dynamic, fatigue and vibration testing for the past thirty years, ESI’s focus has “allowed it to become the best at what it does” ARDL stated.

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Related news:

  1. Hexpol buys Valley Processing for $44 million
  2. Dongah Tire & Rubber Acquires Avon Automotive Vibration Business
  3. Hexpol buys Trelleborg’s Czech compounding unit for 65 million euros
  4. Hexpol buys 80% of Mesgo for 168 million euros
11th November 2020/by Chris

Siemens Energy sale good for Conti group spin off – Analysts

Company News, International News
Vitesco

Following the reports that Continental is in talks to sell off various parts of its wider group, analysts have responded positively to Siemens’ recent sale of its Energy division, saying it is good for Conti.

Upgrading their rating to “buy”, Jefferies analysts said: “Siemen’s recent spin-off of Energy gives confidence that Conti’s share price will benefit from its planned spin-off of Vitesco as the combined market cap of Siemens and Energy was up 7 per cent on the day of transaction (DAX +3%)” The implication, they explained, was that there was a discount in Siemens’ sum-of-the-parts valuation. That being the case, given Conti’s “more attractive transaction structure”, the analysts predicted that Conti’s “re-rating should be more pronounced.”

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Related news:

  1. Dunlop Aircraft Tyres confirms sale talks
  2. Continental delays Vitesco spin-off
  3. Continental AG measures ‘encouraging’, but R&D budgets and European tyre factories could be cut – analysts
  4. Continental in talks to sell parts of its group
14th October 2020/by Chris

Continental in talks to sell parts of its group

Company News, International News
NRZ, Arno Borchers

The recent news that Continental AG will close its Aachen, Germany tyre factory underlines the fact that it is aiming to cut 13,000 of 59,000 jobs in Germany as part of a major group-wide cost-cutting programme. Now, the German Manager Magazin is reporting that Continental is also considering the sale of parts of the wider group. Indeed, Continental is said to be in talks “already with prospective customers”. The Rubber Technologies business sector, which includes Continentals Tire and ContiTech division is also said to be affected.

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Related news:

  1. Continental holds HQ topping out ceremony
  2. Continental bosses lay foundation stone for new HQ
  3. Revisiting the past for a better future – Continental looks at Nazi era activities
  4. Continental to expand restructuring programme to save 1 billion euros by 2023
13th October 2020/by Chris

Itochu sold 26 Kwik-Fit freeholds in the first half of 2020

UK News

While speculation continues relating to the apparent sale of the Kwik-Fit tyre retail business, we do know that the Itochu-owned enterprise sold the freeholds to 26 of its branches in a double-digit million-pound series of transactions during the first half of 2020.

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Related news:

  1. Kwik Fit owner Itochu prepares for sale scenario
  2. ETEL announces senior promotions, new management team
  3. ETEL continues to lead top 20 UK tyre retailers 2019
  4. ETEL, Kwik-Fit decline to comment on sale speculation
22nd September 2020/by Chris

ETEL, Kwik-Fit decline to comment on sale speculation

Company News, International News

On Friday 18 September 2020, it emerged that Kwik-Fit and European Tyre Enterprises Ltd (ETEL) owner Itochu has appointed investment bankers Nomura to act as its strategic investment consultancy with relation to the future of its European tyre business. The move has been widely interpreted as sale preparation. In light of the news, Tyres & Accessories contacted ETEL and Kwik-Fit representatives in order to find out more. Both declined to comment officially. However, supplementary information on Itochu’s third-quarter 2020 and full fiscal year 2020 results give further details of the conglomerate’s explanation as to why the company did not present a 2021 profit forecast for ETEL as it normally would.

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Related news:

  1. Kwik Fit owner Itochu prepares for sale scenario
  2. Itochu Buys Kwik-Fit for £637 million
  3. Itochu sold 26 Kwik-Fit freeholds in the first half of 2020
  4. Pirelli Sells CPK Tyre Wholesale Business to Stapleton’s
21st September 2020/by Chris

Kwik Fit owner Itochu prepares for sale scenario

Company News, UK News

The UK’s largest tyre retailer, Kwik Fit, is being prepared for a sale. The Japanese Itochu group, which owns the European Tyre Enterprises Ltd (ETEL) holding company that controls both Kwik Fit and its wholesale counterpart Stapleton’s Tyre Services, has appointed investment bankers Nomura to advise on strategic options for the company, according to Sky News, with insiders suggesting a sale is very likely.

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Related news:

  1. Kwik Fit benefiting from increased mechanical work
  2. Itochu sold 26 Kwik-Fit freeholds in the first half of 2020
  3. UK tyre retailers continue right-sizing
  4. Kwik Fit expanding into Italy, across Europe
19th September 2020/1 Comment/by Chris

Geneva Motor Show to be sold to Palexpo, next event 2022

International News

The Committee and Council of the Foundation “Salon International de l’Automobile” has today decided it will not organise a Geneva International Motor Show (GIMS) in 2021, it will not accept a loan from the State of Geneva and moving forward the sale of GIMS to Palexpo SA is the preferred solution. Organisers had previously said the 2021 show was “very uncertain”.

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Related news:

  1. Coronavirus – Geneva Motor Show cancelled as Switzerland bans large events
  2. Geneva Motor Show 2021 “very uncertain”
  3. Update: HiQ to Franchise Off 109 Equity Outlets
  4. Dunlop Aircraft Tyres confirms sale talks
30th June 2020/by Chris

Dunlop Aircraft Tyres confirms sale talks

Company News, International News, News, Premium, Product News, Retreading, UK News

Birmingham-based Dunlop Aircraft Tyres Ltd (DATL) has confirmed that the company is looking for new investors. And this means that “initial discussions” with “a number of interested parties” are already underway.

According to the company’s executive chairman Ian Edmondson, the goal is to find a suitable partner to help the company continue to move forward at its current rate of positive growth: “Our shareholders are now seeking to find a new investor who is in a position to help the business maintain the outstanding growth record that it has delivered in recent years.”

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Related news:

  1. Ready for take-off: is Dunlop Aircraft Tyre Ltd (DATL) up for sale?
  2. Dunlop Aircraft Tyres to open US retread facility
  3. Conti’s Bandvulc purchase results in UK market remoulding
  4. Dunlop Aircraft Tyres sold to Liberty Hall Capital Partners for US$135 million
28th September 2016/by Tyrepress Editors

Titan puts Italtractor subsidiary up for sale

Company News, International News

Titan International, Inc. has engaged Goldman, Sachs & Co. to advise on the sale of its Italtractor ITM S.p.A. subsidiary on 25 April 2016. The news follows the announcement that the firm had established a special committee of its board of directors to review and analyze the issues relating to the possible sale of ITM. These moves and the language of the legal disclaimers attached to the official statements announcing them suggest Italtractor is now well and truly up for sale.

Read more

Related news:

  1. Italtractor ITM for sale? Titan International is considering its options
  2. Titan International looking at potential ITM listing
  3. Titan International postpones ITM listing
  4. Titan International sells Wheels India share
3rd May 2016/by Tyrepress Editors

Tyretraders.com enters administration

News, UK News

Martin T Coyne & Matt D Hardy of Birmingham based Poppleton & Appleby have been appointed as joint administrators of Tyretraders.com Ltd. Overhead expenses, rising costs, the fall in tyre prices and investment that apparently outpaced growth of the business are all said to have led to the company entering administration. Moving forward, the administrators aim to sell the business as a going concern.

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Related news:

  1. ATD enter bankruptcy proceedings
  2. Euro Car Parts buys 27 Unipart Automotive branches
  3. Sears enters Chapter 11
  4. Will Amazon buy ATD?
16th February 2016/by Tyrepress Editors

Cooper Tire closes Cooper Chengshan sale

Company News, International News

Cooper Tire & Rubber Company reports that it has completed the sale of its 65 per cent ownership in Cooper Chengshan (Shandong) Tire Company Ltd (CCT) to Chengshan Group Company Ltd on 1 December for approximately US$262 million net of taxes and including dividends in accordance with the previously announced option agreement. Earlier reports suggested […]

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Related news:

  1. Cooper: Chengshan worth US$440 million, say valuers
  2. Analysts: Cooper 3Q results surprise, but shares fall
  3. Chengshan to buy out Cooper for US$286 million
  4. Cooper counters Apollo offer reduction talk with statement
1st December 2014/by Tyrepress Editors

Euro Car Parts buys 27 Unipart Automotive branches

Career Tracks, UK News

Euro Car Parts acquired 27 former Unipart Automotive branches yesterday (7 August). Following negotiations with Unipart Automotives’s administrators, Mark Orton, Will Wright and Jonny Marston from KPMG, Euro Car Parts has secures the sites across England, Scotland and Wales, taking the ECP network to 194 branches. At the same time Parts Alliance reported it had taken on over 500 ex-Unipart Automotive works.

Read more

Related news:

  1. Is Unipart Automotive being lined up for sale to Euro Car Parts?
  2. Are Unipart Automotive rescue bids in?
  3. William Blair in favour of a Euro Car Parts rescue of Unipart Automotive
  4. New bidders enter into Unipart Automotive rescue talks
8th August 2014/by Tyrepress Editors
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