In October, Yokohama announced that the company had appointed ex-Pirelli and ex-Prometeon executive Gregorio Borgo as its European president. Roughly nine months later, there are a number of indications that the European business is entering a new chapter, which includes plans to invest in the construction of a factory “in the heart of Europe”.
Trelleborg Wheel Systems has released a new radial for earthmoving operations, the Trelleborg EMR1031. Designed to perform on the most demanding terrain, from sand to rock or extra hard surfaces, EMR1031 features a cut-resistant compound and a sidewall protector for damage protection and longer tyre life, along with a multi-surface tread design for superior traction.
Mitas’s newest two-wheeler tyre production facility in India has been formally inaugurated, following our early 2022 article that the factory was ready to commence production. The factory, which will serve global motorcycle tyre markets, is the result of a joint venture with the Mahansaria Group. The two companies are combining their expertise to bring Mitas tyre engineering into the two-wheeler tyre market. Both companies have been working throughout the challenges of the last two years, to test and produce tyres. The Mitas brand is part of Trelleborg Wheel Systems, whose sale to Yokohama for 2.1 billion euros was confirmed at the turn of the year.
Following Trelleborg Group’s confirmation that it cancelled plans to invest in new manufacturing facilities in Russia following Russia’s invasion of Ukraine at the end of February, Yale School of Management has upgraded the Swedish-based rubber products specialist business from grade “F” to “B”.
Trelleborg Group cancelled plans to invest in new manufacturing facilities in Russia following Russia’s invasion of Ukraine at the end of February. Back in October 2021 Trelleborg had announced plans to invest roughly 30 million euros in manufacturing operations in Russia, Vietnam, Japan and Morocco. The Russia project was set to focus on sealing solutions.
Now Yokohama has confirmed its acquisition of Trelleborg Wheel Systems (TWS), we can talk more definitively about the rationale behind the purchase. There are several drivers behind the acquisition, but they all boil down to Yokohama’s desire to increase global leadership and rebalances its product mix.
Three months after we published the news, The Yokohama Rubber Co., Ltd., has confirmed that it has entered into a share purchase agreement with Swedish-based Trelleborg AB to acquire all outstanding shares of Trelleborg Wheel Systems Holding AB (TWS). According to Yokohama, TWS’s enterprise value is €2,040 million (about ¥265.2 billion). But the acquisition agreement includes a performance-linked earn-out clause, which could increase the acquisition price by up to €60 million depending on TWS’s 2022 financial results. And therefore Trelleborg refers to the sale as a 2.1 billion euro deal.
Trelleborg Wheel Systems says it is looking to “significantly improve material handling operations” with the launch of its latest tyre for maximum intensity applications, the XP1000. It adds that the tyre provides customers moving materials around ports, warehouses, and shop floors with optimum traction and minimal vibration. The claimed result is greater comfort, increased safety, lower fuel consumption and a longer tyre life for more cost effective and sustainable operations. The XP1000 is also available in a non-marking version.
From the end of the second quarter of 2022, Katarina Olsson will succeed Charlotta Grähs as General Counsel of the Trelleborg Group. Grähs is stepping down from her position at Trelleborg to take a similar role at another company.
Trelleborg Wheel Systems (TWS) has confirmed a timetable of beginning volume two-wheeler tyre production at the SYAM Trelleborg Tires LLP joint venture factory “by early 2022” following the start of trial manufacturing last December. With the plant’s entry into operation, TWS looks forward to an increased production capacity of two-wheeler tyres that not only “contributes to consolidate market presence” in southeast Asia, a region where two-wheeled vehicles are in great demand, but also “augmenting motorcycle operations across Europe and North America.”
A quick glance at our recent top 10 articles of 2021 email offers a unique overview of the major themes of the last 12 months. Since most of those issues are ongoing stories, they bring with them a useful insight into some of the things we can expect in 2022 – an insight that can be summarised by these three words: acquisitions, consolidation and sustainability.
Following our coverage of Yokohama’s offer for Trelleborg Wheel Systems, the tyre and wheel manufacturer’s Swedish parent company Trelleborg AB has confirmed that “external parties have shown interest to acquire Trelleborg’s business area Trelleborg Wheel Systems”. At the same time, Titan International offered its view on third-party interest in Trelleborg Wheel Systems.
Prices for Trelleborg Wheel Systems (TWS) products will increase by up to ten percent as of January 2022. Trelleborg says the price rises apply to all TWS brands and products and is a consequence of the escalating energy, logistics and raw materials costs in all markets.