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Trelleborg finalises acquisition of Mitas manufacturer, CGS Holding

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Trelleborg has finalised its acquisition of leading agricultural, industrial and specialty tyre manufacturer, CGS Holding as. The total cash consideration amounted to approximately 10.9 billion Swedish krona (approximately £0.91 billion) on a cash and debt-free basis. CGS is headquartered in the Czech Republic and generated sales of approximately SEK 5.6 billion (£0.47 billion) in 2015 with an operating margin of 16.5 percent. The Czech company also produces engineered polymer solutions.

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Related news:

  1. Trelleborg acquires Mitas parent company, CGS Holding
  2. The Mitas touch – a new plant, agri tyre ‘revolution’, and a changing brand focus
  3. Kenda buys Starco
  4. ‘Planning, communication’ help Trelleborg implement plans during pandemic
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Trelleborg acquires Mitas parent company, CGS Holding

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Trelleborg has signed an agreement to acquire the Czech Republic’s CGS Holding a.s. for approximately 10.9 billion Swedish Krona (£830 million) on a cash and debt-free basis. The privately-owned company is active in the agricultural and specialty tyre business segments, including the strong Mitas tyre brand, as well as engineered polymer solutions. Closing of the transaction is subject to approvals from relevant competition authorities and is expected to be completed in the first half of 2016.

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Related news:

  1. Trelleborg finalises acquisition of Mitas manufacturer, CGS Holding
  2. The Mitas touch – a new plant, agri tyre ‘revolution’, and a changing brand focus
  3. Preparing for re-entry: Continental returns to agri tyres with Project LousAgro
  4. ‘Planning, communication’ help Trelleborg implement plans during pandemic
/by

Savatech recalls Sport Force radial motorcycle tyres

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Savatech Sport Force recall

Slovenian tyre producer Savatech has recalled its Sport Force radial motorcycle tyres. The tyres, which were sold to customers mostly in Europe, may develop a bulge in the tread during sustained high speed riding. This could cause vibration and, in the most extreme of cases, some of the tread may become detached. Savatech clarified that the problem has only been simulated in controlled and the most severe of conditions. The Sport Force recall is pre-emptive.

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Related news:

  1. Mitas enters bike radial market with Sport Force
  2. Michelin unveils latest moto offerings
  3. Bridgestone instigates 1.2m tyre recall
  4. A graphene tyre breakthrough?
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The Mitas touch – a new plant, agri tyre ‘revolution’, and a changing brand focus

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Ask many Subaru owners if they’re familiar with Fuji Heavy Industries and you’ll receive a negative response, even though one of the company’s products is parked in the driveway. Czech Republic-based tyre maker Mitas has faced a similar situation in recent years. Even though the off-road specialist’s share of the European agricultural tyre market (not counting imports from outside Europe) is said to be around 35 per cent, recognition of the Mitas name doesn’t necessarily reflect this. The company now intends to change this state of affairs, and the percentage of tyres it produces under the Mitas brand name is set to markedly increase over the coming five years.

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Related news:

  1. Trelleborg acquires Mitas parent company, CGS Holding
  2. Trelleborg finalises acquisition of Mitas manufacturer, CGS Holding
  3. ‘Mitas Premium’ announced at EIMA – Continental name to be phased out on OE agri tyres
  4. PneuTrac offers ‘clear benefits’, says Mitas
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