Interested parties vie to acquire Indonesian tyre maker Multistrada
Quoting sources from the “investment banking industry,” BusinessKorea reports that “a number of global tyre companies” have shown interest in acquiring Indonesia’s second-largest tyre maker, PT Multistrada Arah Sarana Tbk. The publication names Hankook Tire and Michelin as two of the interested parties.
Continue Reading![Cooper Tire opens ‘central’ US warehouse](https://www.tyrepress.com/wp-content/uploads/2018/11/Cooper-Byhalia-facility-002.jpg)
Cooper Tire opens ‘central’ US warehouse
The million square foot (92,900 square metre), centrally-located warehouse that Cooper Tire & Rubber Company erected near three of its factories in the USA is now in operation. The new warehouse in Byhalia, Mississippi employs approximately 100 people and is Cooper’s largest distribution centre nationwide.
Continue ReadingTire+ 2018 opens
The second edition of the Tire+ exhibition, organised by China United Rubber Company, got underway today in Guangzhou, Guangdong Province China at the world-famous Canton show ground. The show runs in parallel with the large-scale Guangzhou Autoshow (itself a top three automotive event in China) as well as the China Essen Motor Show and continues until 19 November.
Continue Reading![Prinx Chengshan goes public ahead of expansion drive](https://www.tyrepress.com/wp-content/uploads/2018/11/Prinx-managers-sml.jpg)
Prinx Chengshan goes public ahead of expansion drive
With the striking of a ceremonial gong, Prinx Chengshan (Cayman) Holding Limited went live on the Hong Kong Stock Exchange at precisely 9:30am on 9 October. The tyre maker’s listing last month followed nearly a year of preparations and represents an important step in a growth and internationalisation strategy that also includes producing in Southeast Asia and making greater inroads into European and North American markets.
Continue Reading![Leadership team, private equity firm acquire Coker Group](https://www.tyrepress.com/wp-content/uploads/2018/11/Coker-Tire-Logo-small.jpg)
Leadership team, private equity firm acquire Coker Group
US-based vintage and classic tyre manufacturer the Coker Group has new owners. Four years after the death of company founder Harold Coker, the Coker family has sold the business to Wade Kawasaki, the company’s president and chief executive officer, and the current Coker Group leadership team in partnership with private equity firm Irving Place Capital.
Continue Reading![Bridgestone expanding truck/bus tyre capacity at Warren County, USA plant](https://www.tyrepress.com/wp-content/uploads/2018/11/Warren_County_sml.jpg)
Bridgestone expanding truck/bus tyre capacity at Warren County, USA plant
Production capacity for truck and bus radials at Bridgestone’s Warren County factory in Tennessee, USA will increase as part of a three-year, US$40 million investment to “meet market demand and address emerging customer needs.” Bridgestone Americas says it will break ground on expansion work at the 28-year old plant before the end of this year.
Continue ReadingInterpneu named exclusive Yokohama truck, OTR tyre distributor for Germany
With the signing of a three-year contract, Interpneu has taken on exclusive distribution of Yokohama truck/bus and OTR tyres in Germany. This arrangement takes effect in 2019 and is a further step in an established partnership between the Pneuhage Group wholesale business and Yokohama.
Continue ReadingMichelin increasing prices in North America
Michelin North America has announced increases for US national account prices of up to eight per cent for all commercial brands, products and services. The new pricing takes effect 1 December 2018. Separately, prices for car, light truck and two-wheeler tyres sold under the Michelin, BFGoodrich and Uniroyal brands in the United States and Canada will increase by up to five per cent, effective 1 January 2019.
Continue ReadingHella promotes intelligent mobility infrastructure in Beijing
Hella, the lighting and electronics specialist is participating in a consortium initiated by the Chinese automobile manufacturer BAIC to develop an intelligent mobility infrastructure in Beijing. This includes communication between vehicles and their environment, via traffic lights equipped with sensor technologies, for example. A total of thirteen international and Chinese technology companies are involved in the non-exclusive cooperation.
Continue ReadingUSA price increase for Pirelli car/light truck tyres
Prices for Pirelli car and light truck tyres sold in the US market will rise from 1 January 2019. Pirelli says the increase will be up to six per cent on average; it says it is implementing the new pricing in response to higher raw materials prices and “growing investment in the development of new technologically advanced products.”
Continue Reading![EU publishes definitive anti-subsidy and updated anti-dumping rates](https://www.tyrepress.com/wp-content/uploads/2018/11/Anti-Subsidy-Docs.png)
EU publishes definitive anti-subsidy and updated anti-dumping rates
The European Union has published its definitive decision relating to anti-subsidy duties imposed on Chinese-produced truck tyres imported into the continent. This follows the EU’s final decision on anti-dumping duties, which was released on 18 October 2018. In short, the latest document (which runs to well over 120 pages) demonstrates how large subsidies have supported some Chinese tyre makers. However, it doesn’t mean the overall per tyre rate importers have to pay will change.
Continue Reading![Construction begins on Ronal innovation centre](https://www.tyrepress.com/wp-content/uploads/2018/11/groundbreaking-ronal-sml.jpg)
Construction begins on Ronal innovation centre
Work on a new Ronal innovation centre is now under way. Alloy wheel manufacturer the Ronal Group broke ground at the site of its future facility in Forst, Germany in late September, and on 12 October founded Ronal Technologie GmbH, the company that will take responsibility for the centre’s functions.
Continue ReadingCanada: Group Touchette acquires Atlas Tire Wholesale
Canadian tyre wholesaler Groupe Touchette Inc. has extended its market coverage in that country by acquiring Atlas Tire Wholesale Inc., a distributor with a strong presence in the Ontario region. According to Groupe Touchette, it does not intend to reorganise the businesses apart from “a few adjustments that may be necessary.” The plan is for the two companies to gradually integrate the Ontario market over the next year.
Continue Reading![US market receives first Magna OTR tyre production from Thailand](https://www.tyrepress.com/wp-content/uploads/2018/11/magna-thailand-ma01.jpg)
US market receives first Magna OTR tyre production from Thailand
One way of avoiding anti-dumping duties applicable to tyres imported from China is not to import tyres from China. This is what Magna Tyre Group is now doing in the USA – the company is meeting increased demand for OTR tyres in this market by expanding its production capacity in Thailand. Tyres made in this facility, comments Magna, are don’t attract tariffs in the USA and thus offer the opportunity for the company to “massively increase our presence on American market.”
Continue Reading![Apollo Tyres’ Onkar Kanwar receives Japanese Imperial honour](https://www.tyrepress.com/wp-content/uploads/2018/11/onkar-kanwar-apollo.jpg)
Apollo Tyres’ Onkar Kanwar receives Japanese Imperial honour
In its 2018 Autumn Imperial Decorations, the Government of Japan has conferred upon Onkar S Kanwar the Order of the Rising Sun, Gold and Silver Star. The chairman of Apollo Tyres Ltd. received this recognition for his contributions towards strengthening the economic relations between Japan and India, and for promoting Japanese company’s entry into the Indian market.
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