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You are here: Home1 / shares

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Four-for-one split for Michelin shares

Company News

Shareholders at the Annual Meeting of Compagnie Générale des Établissements Michelin on 13 May voted in favour of splitting the par value of the Michelin share into four. Michelin explains that this decision is linked to the 66 per cent rise in the share price between 31 December 2018 (€86.70) and 31 December 2021 (€144.15).

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Related news:

  1. Hankook share sale a boost for Michelin entry-level and medium production
  2. Michelin implements partial share buyback management agreement
  3. Were communications issues behind premium tyremakers share price drop?
  4. Michelin, Conti “well positioned” for market change: Goldman Sachs
16th May 2022/0 Comments/by Stephen

Yongsheng Rubber shareholding changes

Company News, International News

Tyrepress has learned from people familiar with the matter that the shareholding of Shandong Yongsheng Rubber Group Co., Ltd. has changed recently. After the equity change, Tian Xiuzhen held 50 per cent and became the group’s major shareholder. Liu Zijun and Liu Huiqin each own 25 per cent of the shares.

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Related news:

  1. Yokohama and Kumho sign technology exchange, capital alliance MOU
  2. Linglong market value exceeds RMB 50 billion
  3. Triangle IPO underway
  4. Guizhou Tyre raises 1 billion yuan for Vietnam tyre factory in private share issue
9th May 2022/0 Comments/by Xuda Wang

Nynas reorganisation closed

Company News, International News
Nynas

Nynas has settled payments to trade creditors with claims remaining, after receiving an initial payment of 100,000 Swedish krone each following the completion of Nynas’s company reorganisation in January 2021. According to a statement published by the speciality oil refiner and supplier on 19 January 2021, those actions are “in accordance with the composition agreement between all creditors and as decided by the District Court of Södertörn”.

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Related news:

  1. Nynas exits reorganisation
  2. Bitumina becomes Nynas’ largest shareholder
  3. Nynas changes hands again
  4. Nynas enters restructuring process
19th January 2022/by Chris

Itochu bids $1.7 billion for Hitachi Construction Machinery stake

Company News, International News
Hitachi Construction Machinery (Europe) NV

Hitachi is selling around half its 51 per cent shareholding in Hitachi Construction Machinery Co Ltd for 200 billion yen (£1.271 billion; 1,524 billion euros; US$1.7 billion) to Kwik-Fit’s owner Itochu and investment fund Japan Industrial Partners, according to reports published by Nikkei on 13 January 2022. Itochu confirmed that it is “considering this matter”, but declined to give further details later the same day in a statement that read:

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Related news:

  1. Yokohama to buy ex-Pirelli commercial/industrial tyre business Prometeon
  2. Yokohama’s Prometeon bid: Delayed by Covid, but nearing completion
  3. Mahansaria Tyres (MTPL) to buy Tyres International
  4. Yokohama offers US$2 billion for Trelleborg Wheel Systems as global off-highway tyre segment consolidates
13th January 2022/by Chris

Goodyear names Christian Gadzinski as IR head

Career Tracks, Company News, International News
Goodyear

The Goodyear Tire & Rubber Company has appointed Christian Gadzinski as senior director of Investor Relations. He reports to Christina Zamarro, vice president, Finance & Treasurer.

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Related news:

  1. Goodyear appoints new EMEA president
  2. Ex-Triangle and Goodyear Tire executive Cohade joins Johnson Controls
  3. Goodyear appoints new HR leadership
  4. Thomas Williams joins Goodyear board
11th January 2022/by Chris

Titan International shares up 49% after market consolidation reports

Company News, International News

What a difference a month makes. Titan International shares are trading 49 per cent higher now than they were before Christmas. The difference? The news that competitor Trelleborg is in talks with “external parties” relating to the sale of its Trelleborg Wheel Systems (TWS) industrial/OTR tyre business and subsequent market comments publish by Titan chairman Morry Taylor.

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Related news:

  1. Titan receives additional settlement put option notice
  2. Yokohama to buy ex-Pirelli commercial/industrial tyre business Prometeon
  3. Titan International sells Wheels India share
  4. Trelleborg confirms acquisition interest from ‘external parties’
10th January 2022/by Chris

Trelleborg share price up 16% after Wheel Systems acquisition reports

Company News

Trelleborg AB’s share price has risen sharply following reports that the company is in talks relating to the sale of Trelleborg Wheel Systems business.

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Related news:

  1. Trelleborg reorganisation brings greater prominence to tyres
  2. Yokohama offers US$2 billion for Trelleborg Wheel Systems as global off-highway tyre segment consolidates
  3. Trelleborg group sales relatively good, but tyre sales impacted
  4. Maurice Taylor: Don’t overlook Titan
4th January 2022/by Chris

Bridgestone delisting from Nagoya Stock Exchange

Company News, International News

Bridgestone Corporation has applied to have its shares delisted from the Nagoya Stock Exchange. Explaining the rationale behind this move, the company notes that it is currently listed on three stock exchanges in Japan – Tokyo, Nagoya and Fukuoka. In order to reduce the management costs and streamline management operations related to duplicate listings, it has decided to delist from the Nagoya Stock Exchange.

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Related news:

  1. Bridgestone decreases stake in Nokian Tyres
  2. Bridgestone cancels Treasury Stock
  3. Toyo sells half its Bridgestone shares
  4. Bridgestone limbering up for Tokyo 2020
15th October 2021/by Stephen

Nynas changes hands again

Company News, International News
Nynas

After a turbulent few years, tyre industry supplier, Nynas AB has changed hands again signing a binding agreement with an investment vehicle managed by Davidson Kempner Capital Management LP for the acquisition of the entire equity stake (49.9%) in Nynas from Bitumina Industries Limited, making it the largest individual shareholder of Nynas.

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Related news:

  1. Cabot buys Chinese nanotube supplier for $115 million
  2. Bitumina becomes Nynas’ largest shareholder
  3. Nynas exits reorganisation
  4. Goodyear launches private offering to raise funds for Cooper Tire acquisition
26th July 2021/by Chris

Camfin increases its stake in Pirelli to 14.1%

Company News, International News
Pirelli

Camfin S.p.A. (Camfin) and Longmarch Holding S.à.r.l. (Longmarch), an investment vehicle owned by the Chinese Niu family which owns Chinese tyremaker Hixih, have entered into an agreement concerning the acquisition of shares in Camfin shareholding by Longmarch. The agreement represents the fulfilment of an April 2020 accord between Camfin and Longmarch, which included a call option for 4.89 per cent of Pirelli and means Camfin now owns 14.1 per cent of Pirelli.

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Related news:

  1. Pirelli and Hixih move closer together
  2. ChemChina now holds 30% of Pirelli shares
  3. Pirelli major shareholder Chemchina restructuring
  4. Pirelli shareholders amend agreement, some parties end co-investment accord
1st July 2021/by Chris

Goodyear’s Cooper acquisition notes set to bear interest of 5%

Company News, International News

Following the news that it is raising money to fund the cash part of its takeover of Cooper Tire, The Goodyear Tire & Rubber Company announced that it has priced its private offering to eligible purchasers of $850 million aggregate principal amount of senior notes due 2029 and $600 million aggregate principal amount of senior notes due 2031.

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Related news:

  1. Goodyear set to buy Cooper Tire for US$2.5 billion
  2. Goodyear and Cooper shares up 30% after takeover news
  3. Fitch rating affirmation partially affirms Goodyear Cooper acquisition strategic logic
  4. Cooper shareholders approve Goodyear merger
14th May 2021/by Chris

Goodyear launches private offering to raise funds for Cooper Tire acquisition

Company News, International News

The Goodyear Tire & Rubber Company commenced a private offering of US$1.45 billion aggregate principal amount of 8- and 10-year senior notes on 13 May 2021.

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Related news:

  1. Goodyear set to buy Cooper Tire for US$2.5 billion
  2. Cooper shareholders approve Goodyear merger
  3. Goodyear to regain number 3 global PCLT tyre volumes ranking – Astutus Research
  4. Bumpy roads and leveraged buy-outs – reflections on the Goodyear/Cooper Tire integration
13th May 2021/by Chris

Cooper will pay 197th consecutive dividend…probably

Company News, International News

With the confirmation of its 197th consecutive quarterly dividend (announced on 6 May 2021), Cooper Tire & Rubber reiterated its position as one of the most consistent dividend-payers out there. However, this time the normally prosaic dividend payment announcement statement was spiced up by a single condition.

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Related news:

  1. Goodyear set to buy Cooper Tire for US$2.5 billion
  2. Goodyear and Cooper shares up 30% after takeover news
  3. Cooper shareholders approve Goodyear merger
  4. Goodyear to regain number 3 global PCLT tyre volumes ranking – Astutus Research
10th May 2021/by Chris

Cooper shareholders approve Goodyear merger

Company News, International News

Cooper shareholders approve proposed merger with Goodyear Cooper Tire & Rubber Company’s stockholders have voted overwhelmingly to approve the planned merger with The Goodyear Tire & Rubber Company. The vote was held at a special meeting of Cooper stockholders today. Cooper reports that approximately 99 per cent of votes cast were in favour of the transaction. Read our coverage of Goodyear’s acquisition of Cooper here, or in our special 12-page e-paper supplement.

Read more

Related news:

  1. Goodyear set to buy Cooper Tire for US$2.5 billion
  2. The Goodyear/Cooper combination’s synergies; global headquarters to be in Akron
  3. Fitch rating affirmation partially affirms Goodyear Cooper acquisition strategic logic
  4. Goodyear to regain number 3 global PCLT tyre volumes ranking – Astutus Research
30th April 2021/by Andrew

Goodyear to regain number 3 global PCLT tyre volumes ranking – Astutus Research

Company News, Premium, UK News

With the addition of the Cooper Tire business, Goodyear will return to the global number three ranking in passenger car and light truck (PCLT) tyre volumes in 2021. After previously holding the clear number three ranking behind the world’s largest tyre manufacturers, Bridgestone and Michelin, Goodyear was joint third with Continental in both 2017 and 2018. In 2019, Goodyear fell behind Continental to fourth position in 2019 and 2020. Working on a pro forma basis combining original equipment and replacement market tyres, Astutus Research data reveals some interesting facts about the nascent conjoined organisation, with reference to their largest tyre business segment in terms of volume.

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Related news:

  1. Is Continental about to break into PCLT tyre global big 3?
  2. Goodyear set to buy Cooper Tire for US$2.5 billion
  3. The Goodyear/Cooper combination’s synergies; global headquarters to be in Akron
  4. Goodyear and Cooper shares up 30% after takeover news
3rd March 2021/by Andrew
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