![Goodyear approached Cooper Tire regarding multi-billion-dollar acquisition](https://www.tyrepress.com/wp-content/uploads/2021/02/Brad_Hughes_approved_photo-e1614022241846.jpg)
Goodyear approached Cooper Tire regarding multi-billion-dollar acquisition
Cooper Tire wasn’t initially looking to sell when Goodyear chief executive Rich Kramer approached the company, Cooper’s president and CEO told journalists in a virtual press conference on 22 February 2021. Rather, Cooper’s management and board were convinced by Goodyear’s “compelling offer” and “strategic logic”. So, what exactly was it that convinced Cooper’s leadership team?
Continue Reading![Magna Tyres Portal goes global](https://www.tyrepress.com/wp-content/uploads/2021/02/magna-portal.jpg)
Magna Tyres Portal goes global
Customers based in Europe have been able to place orders and gain information at the Magna Tyres Portal since last October, and Magna Tyres Group is now extending its reach to markets all around the world. Effective immediately, all Magna customers can utilise the entire Magna Tyres Portal, which in addition to covering the entire process from providing initial information to ordering tyres, includes many important features such as product and technical documentation, marketing support and aftersales service.
Continue Reading![The Goodyear/Cooper combination’s synergies; global headquarters to be in Akron](https://www.tyrepress.com/wp-content/uploads/2020/08/Goodyear-Akron.jpg)
The Goodyear/Cooper combination’s synergies; global headquarters to be in Akron
Explaining the rationale behind Goodyear’s multi-billion dollar acquisition of Cooper Tire, executives said the combination offers “compelling strategic and financial benefits”. Specifically, they suggested the transaction “further strengthens Goodyear’s leading position in the US, while significantly growing its position in other North American markets.” With just two home-grown domestic tyremakers in the US (Goodyear and Cooper), that much is clear. However, the benefits of the announced merger are not limited to North America. In China, the combination will almost double Goodyear’s presence. According to Goodyear, it will also increase the Akron, Ohio-based tyremaker’s OE tyre supply position, while creating broader distribution for Cooper replacement tyres through Goodyear’s network of 2,500 branded retail stores.
Continue Reading![Goodyear set to buy Cooper Tire for US$2.5 billion](https://www.tyrepress.com/wp-content/uploads/2014/02/np-spiritgdyr01.jpg)
Goodyear set to buy Cooper Tire for US$2.5 billion
The Goodyear Tire & Rubber Company and Cooper Tire & Rubber Company have made “a definitive transaction agreement” that will see Goodyear buy Cooper for roughly $2.5 billion. The combined company will have approximately $17.5 billion in pro forma 2019 sales. Upon closing of the transaction, Goodyear shareholders will own approximately 84 per cent of the combined company, and Cooper shareholders will own approximately 16 per cent.
Continue Reading![Capacity expansion: TVS Srichakra signs MoU](https://www.tyrepress.com/wp-content/uploads/2021/01/generic01-1.jpg)
Capacity expansion: TVS Srichakra signs MoU
Tyre maker TVS Srichakra has signed a Memorandum of Understanding with the government of India’s Tamil Nadu state in order to facilitate the investment to expand capacities at its plant in Madurai.
Continue Reading![SRI evaluating hydrogen as production power source, joins association](https://www.tyrepress.com/wp-content/uploads/2021/02/japan-hydrogen-sml.jpg)
SRI evaluating hydrogen as production power source, joins association
Sumitomo Rubber Industries (SRI) is working to achieve carbon neutrality in its tyre manufacturing processes by 2050, and as part of these efforts recently began examining the possibility of utilising hydrogen energy within its major tyre factories in Japan. In order to “participate more actively in efforts to overcome the challenges involved in bringing about the hydrogen economy while also exchanging useful information with other companies and organisations,” SRI has joined the Japan Hydrogen Association.
Continue ReadingIndonesia not on track to meet vehicle export target, says GlobalData
Following the news from the Association of Indonesia Automotive Industries (GAIKINDO) that automotive exports from the country declined by 30.1 per cent, Bakar Sadik Agwan, senior automotive consulting analyst at GlobalData, says: “Indonesia’s automotive output tumbled significantly due to the COVID-19 and troubled economic environment in 2020. Production, domestic sales, exports and imports all were significantly below the initial expected levels. Indonesia, which is the second largest vehicle manufacturer in the Southeast Asia, depends heavily on exports, making it a key variable for the domestic automotive economy.
Continue Reading![Yokohama Rubber partners in tyre & road surface sensing tests](https://www.tyrepress.com/wp-content/uploads/2021/02/Yokohama-Alps-Zenrin.jpg)
Yokohama Rubber partners in tyre & road surface sensing tests
Three Japanese firms are jointly conducting pilot testing that involves joining data gained from an internet-capable tyre with a road surface sensing system to map data. The trio – tyre maker The Yokohama Rubber Co., Ltd.; map and navigation technology specialist Zenrin Co., Ltd.; and technology company Alps Alpine Co., Ltd. – have now also begun studying ways to monetise this technology.
Continue Reading![Yazd Rubber ups tyre output](https://www.tyrepress.com/wp-content/uploads/2020/09/mohammadali-dahaghin-lm0LeTEOplA-unsplash-scaled.jpg)
Yazd Rubber ups tyre output
Iranian tyre manufacturer Yazd Rubber Industries has completed a capacity expansion project at its tyre manufacturing facility in Yazd.
Continue Reading![Horiba MIRA: Brexit trade rules will drive UK demand for battery development](https://www.tyrepress.com/wp-content/uploads/2021/02/Battery-EV-image.jpg)
Horiba MIRA: Brexit trade rules will drive UK demand for battery development
Test specialist Horiba Mira expects the new ‘rules of origin’ clause will drive a surge in demand for development and testing of EV battery packs. It comes as last month Aston Martin boss and Nissan planning chief Dr Andy Palmer issued a warning to the UK government that the Brexit trade deal, alongside ambitious plans to ban the sale of new petrol and diesel cars by 2030, presents a risk of “crippling tariffs” for the UK automotive industry unless the sector invests heavily in domestic battery production for electric vehicles.
Continue Reading![Michelin to hold 90% shareholding in Enviro, Chile joint venture](https://www.tyrepress.com/wp-content/uploads/2020/10/tlo_biz83a-scaled-e1602237521703.jpg)
Michelin to hold 90% shareholding in Enviro, Chile joint venture
Further details of Scandinavian Enviro Systems’ cooperation with Michelin have been revealed alongside a formal notice ahead Swedish firm’s EGM on the subject of its strategic partnership with Michelin. They include an overview of: licensing rules, percentage ownership of the two companies Chile recycling joint venture and how much Enviro is investing in that project.
Continue Reading![Pirelli’s Burton consultation, MIRS tyre production and the possibility of transferring tyre manufacturing to Carlisle](https://www.tyrepress.com/wp-content/uploads/2020/10/59_QWJzdHJhY3QgYmFja2dyb3VuZCB3aXRoIGVhcnRoLmpwZw-scaled-e1602237450291.jpg)
Pirelli’s Burton consultation, MIRS tyre production and the possibility of transferring tyre manufacturing to Carlisle
Following the news that Pirelli is consulting on reorganising part of its Burton tyre production, the company reaffirmed its commitment to both its Burton and Carlisle locations. But could the consultation relating to Pirelli’s Burton MIRS line mean transferring tyre production to Carlisle?
Continue Reading![Mexican retreader Rimay becomes Galgo dealer](https://www.tyrepress.com/wp-content/uploads/2021/02/galgo.jpg)
Mexican retreader Rimay becomes Galgo dealer
Galgo has announced that Rimay has become part of its worldwide network of independent dealers. The new state-of-the-art 10,000 sqft Rimay retread plant is strategically located in the Central Business Park in Mérida Yucatán, Mexico.
Continue Reading![Fintyre submits settlement plan](https://www.tyrepress.com/wp-content/uploads/2020/06/Fintyre-2014.jpg)
Fintyre submits settlement plan
Roughly a year after its German operations collapsed, late in the evening of Friday 12 February, the Italian parent company Fintyre filed a settlement plan with local courts. According to the Italian members of our international publishing group, Pneusnews.it, it is a decisive step for the company from Seriate, in the province of Bergamo.
Continue Reading![MegaRide introduces RIDEsuite tyre simulation platform](https://www.tyrepress.com/wp-content/uploads/2021/02/grafico.png)
MegaRide introduces RIDEsuite tyre simulation platform
Billed as “the first complete simulation platform that cuts time and costs in the development and testing phases of both tyres and vehicles”, MegaRide has launched the RIDEsuite tyre simulation platform road and motorsport applications. Boasting performance enhancements of up to 30 per cent, RIDEsuite is described as a modular and multi-physical platform consisting of four applications.
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