The Italian tyre brand Momo Tires has signed a contract to manufacture Momo tyres “in Europe”. According to the company, the new partnership includes the production of three brand new models, along with an innovative “four season” tyre to complete the line-up. However, no further details of exactly where the tyres will be produced have yet been released. In answer to questions from Tyres & Accessories, Momo representatives simply said they will publish the name of the producer and the factory soon, which could suggest it is a manufacturer with more than one factory.
Following earlier reports suggesting Sailun Company Ltd had bought two other Chinese tyre firms, Sailun representatives have confirmed that the Chinese tyre manufacturer has entered into a “framework agreement” to acquire equity in both Shandong Jinyu Industrial Co. Ltd and Shenyang Peace Radial Tyre Manufacturing Co. Ltd. The framework was agreed on 10 July 2012.
On 10 July Sailun Co Ltd. announced its entry into an agreement to acquire another Chinese tyre maker and also purchase a large share in a third company. In separate statements, Sailun said it will buy Shenyang Peace Radial Tyre Manufacturing Co. Ltd. for about RMB 120 million (£12.2 million) and acquire 49 per cent equity in Shandong Jinyu Industrial Co. Ltd. for around RMB 200 million (£20.3 million). Shenyang Peace has annual capacity of 1.2 million all-steel radial truck tyres, while Shandong Jinyu has capacity to produce three million all-steel radials and 10 million semi-steel radials per year.