Hankook planning Romanian subsidiary
According to local media, Hankook Tire & Technology is gearing up to establish its own subsidiary in Romania in order to end its reliance upon third-party distributors in this market.
According to local media, Hankook Tire & Technology is gearing up to establish its own subsidiary in Romania in order to end its reliance upon third-party distributors in this market.
According to notifications sent to BSE and the National Stock Exchange of India, tyre maker Ceat Ltd. has set up a wholly-owned subsidiary in Brazil. Ceat Brazil Tires Servicos Ltda has been incorporated, effective 2 October 2023 as an entity for trading products on behalf of Ceat Ltd. Ceat reports that this subsidiary is “yet to commence business.”
Stamford Tyres (Hong Kong) Ltd., a subsidiary of Singapore-based Stamford Tyres Corporation Limited, has set up a wholly-owned subsidiary in China. The new company, Stamford Tyres Dongguan Co Ltd., was set up with a registered capital of US$1 million and will principally engage in the wholesale and distribution of tyres, wheels and automotive accessories.
At present, Toyo Tire & Rubber is restructuring its Toyo Tire Europe GmbH subsidiary, with the aim of operating it as a holding company that will manage the tyre maker’s sales subsidiaries within Europe. Toyo says the restructuring will promote cohesive pricing policies and integrated marketing, optimal distribution and more agile management. As part of this, on 1 May Toyo Tire Europe will hand over sales activities for the German and Austrian markets to a new sales subsidiary, Toyo Tire Deutschland GmbH. This new subsidiary will have responsibilities similar to those held by Toyo Tyre (UK) Ltd and the company’s other national sales organisations. It will be located at the same address as Toyo Tire Europe and Naoki Gonsui will serve as president of both operations.
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