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Toyo closes loss-making Silverstone tyre plant in Malaysia

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Silverstone

Toyo Tire Corporation is closing its loss-making wholly-owned Silverstone Berhad Malaysian tyre manufacturing subsidiary in June 2021. Established on 12 July 1986 and purchased by Toyo in 2011, Silverstone currently manufactures tyres for (primarily Malaysian) new vehicles and Silverstone branded tyres for the aftermarket as well as certain Toyo branded tyres. The dissolution of the Silverstone subsidiary (Silverstone Berhad) will commence by 31 December 2021.

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Related news:

  1. Toyo’s Shandong Silverstone acquisition finalised
  2. Toyo announces plans for new Malaysian tyre plant
  3. Michelin: Acquiring Multistrada will help meet growing tier 2 tyre demand
  4. Michelin now 99.64% owner of Multistrada
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Radburg Center buys Kingpin tyre brand and retread production line

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Radburg Center

Kingpin Tyres, one of the last remaining passenger car tyre retreaders in the UK, has sold its Kingpin brand name and retread production line to Romanian retreader SC Radburg Center Srl. The transaction took place during the summer of 2020 following several months of negotiations, representatives of new owners Radburg told Tyres & Accessories during a recent interview.

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Related news:

  1. Romanian car tyre retreader Radburg prospering in adversity
  2. Dunlop Aircraft Tyres confirms sale talks
  3. Retreader Seryt Tyres reports growth in a time of consolidation and attrition
  4. Hexpol buys 80% of Mesgo for 168 million euros
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UTAC CERAM completes Millbrook acquisition, new governance introduced

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UTAC Ceram

In December 2020 French group UTAC CERAM announced that it was buying British test specialists Millbrook, which also owns well-known tyre test centres such as Test World in Finland. The plan is to merge the two companies, creating “a market-leading group in vehicle testing, vehicle type approval and emerging technologies for autonomous, connected and electric vehicles”.

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Related news:

  1. Millbrook buys Test World
  2. Test World wins Tire Industry Supplier of the Year Award again
  3. Test World open for indoor testing
  4. Millbrook’s Test World acquisition followed ‘strategic collaboration’
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LafargeHolcim confirms it will buy Firestone Building Products in US$3.4 billion deal

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The world’s largest cement maker, LafargeHolcim, has confirmed that it will buy Firestone Building Products from Bridgestone Americas in a US$3.4 billion deal. The sale is designed to enable Bridgestone to “strengthen investments in company’s tyre business and fast-growing mobility solutions business”, according to an official statement.

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Related news:

  1. Dunlop Aircraft Tyres confirms sale talks
  2. Bridgestone extends lease on ATW tyre making facility
  3. Bridgestone’s sale of Speedco finalised
  4. Bridgestone expanding OTR tyre production at US plant
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ClearCourse acquires Garage Data Systems

ClearCourse Partnership LLP, a group of technology companies providing software solutions, has acquired Garage Data Systems (GDS). GDS creates business software for motor trade professionals across the UK and Ireland. This deal represents the 23rd company acquired by ClearCourse, and the first in the motor industry. No financial terms of the acquisition have been released.

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Related news:

  1. Compilator buys Team Systems
  2. Blackcircles Partners With RAC in Online Tyre Deal
  3. Tyresoft making a name for itself in the e-commerce niche
  4. Chevin: Future fleet software must support increased autonomous vehicle data security
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Nexion acquires Kompunet Informatica

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Nexion

Nexion SpA has agreed to acquire Kompunet Informatica, a leading software and data provider in the automotive sector. As a result, Kompunet will become part of the Nexion Group. Kompunet CEO Antonio Russo will remain in the group carrying out the Kompunet projects.

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Related news:

  1. Nexion acquires Stenhøj Group
  2. Cemb buys M&B Engineering
  3. Hexpol buys 80% of Mesgo for 168 million euros
  4. Univergomma acquires Overgom
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Brembo acquires SBS Friction

Brembo has signed an agreement for the acquisition of a 100 per cent stake in SBS Friction A/S, a Danish company which develops and manufactures sintered and organic material brake pads for motorcycles. The transaction entails a consideration of 224 million Danish Krone, equal to approximately £27 million. The company will pay this using available cash. Enterprise value is 300 million Danish Krone (£36 million). Brembo expects the agreement’s finalisation in the first quarter of 2021.

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Related news:

  1. Brembo EBIT up 40.8 per cent to 251.3 million euros
  2. Reports: Brembo aiming for largescale acquisition
  3. Brembo acquires 2.43% interest in Pirelli
  4. Federal-Mogul showing brake pad developments at Automechanika
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Akron Rubber Development Laboratory buys Engineering Testing Services assets

ARDL

Akron Rubber Development Laboratory, Inc. (ARDL) has purchased all Experimental Services Inc’s (ESI) assets on 16 October, ARDL announced in a statement on 5 November. ESI describes itself as, “An engineering laboratory for engineers and researchers.” Providing static, dynamic, fatigue and vibration testing for the past thirty years, ESI’s focus has “allowed it to become the best at what it does” ARDL stated.

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Related news:

  1. Hexpol buys Valley Processing for $44 million
  2. Dongah Tire & Rubber Acquires Avon Automotive Vibration Business
  3. Hexpol buys Trelleborg’s Czech compounding unit for 65 million euros
  4. Hexpol buys 80% of Mesgo for 168 million euros
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Kerr’s Tyres buys Roundabout Tyre & Battery Service

Kerr’s Tyres

Kerr’s Tyre’s & Auto has acquired Belfast-based Roundabout Tyre & Battery Service. Roundabout Tyre & Battery Service have been operating from Belfast’s outer ring for 31 years. No price details have been released.

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Related news:

  1. Kerr’s Tyres & Auto creates 20 new jobs in £2.5 million investment
  2. Kerr’s invests in 14 new jobs, Newtownards tyre centre
  3. Kerr’s Tyres & Auto to invest £2 million creating 15 new jobs
  4. Kerr’s Tyres buys M & S Tyres Enniskillen
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Le Fooding now a 100% Michelin-owned company

Michelin has added to its portfolio of non-tyre business assets with the acquisition of all outstanding shares in Le Fooding three years after the two companies first began collaborating. The deal is the culmination of an agreement signed with the co-founders of Le Fooding in 2017 – after Michelin acquired a 40 per cent stake in its share capital – that provided for Michelin’s future acquisition of the remaining interest.

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Related news:

  1. Michelin purchases Mondéos publishing business
  2. Michelin to purchase additional SIPH shareholding
  3. Michelin shows hard surface tyre at Agritechnica
  4. Michelin, Bridgestone interested in TomTom telematics business
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Georg Brunstam appointed president and CEO of Hexpol

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Hexpol AB (publ) has appointed Georg Brunstam as president and CEO of Hexpol AB (publ) effective 20 November 2020. Georg Brunstam is currently chairman of the Board for Hexpol AB (publ) and had previously been President and CEO for Hexpol AB (publ) 2007-2017.

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Related news:

  1. Hexpol buys Berwin Group for £25 million
  2. Hexpol buys Trelleborg’s Czech compounding unit for 65 million euros
  3. Hexpol buys Preferred Compounding for $232 million
  4. Bloom named president Hexpol Compounding Americas
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Asset manager buys GKN’s wheel business

German asset management firm Aurelius Equity Opportunities SE & Co. KGaA is acquiring the GKN Wheels & Structures business from GKN. The transaction is expected to complete in November and is conditional on receiving anti-trust approval. Following the deal’s completion, GKN Wheels & Structures will gain an as-yet-undisclosed new name.

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Related news:

  1. Black Belt
  2. GKN Wheels publishes hub catalogue
  3. GKN Wheels reports 300% increase in wheel output at Telford factory
  4. Solideal USA Buys Distributor
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Camso acquires Metro businesses in the USA

Camso, the off-road tyre specialist acquired by Michelin in 2018, has grown its off-highway transportation tyre service and distribution presence in North America with the acquisition of two material-handling solutions businesses from Metro Industrial Tires. These businesses are based in Chicago and provide service to the market via their own press truck fleets.

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Related news:

  1. Michelin acquires telematics provider NexTraq
  2. Camso acquires Omni Industrial Tire
  3. Solideal Names John Howe as New UK Sales Manager
  4. Michelin negotiating to acquire Camso
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Yokohama’s Prometeon bid: Delayed by Covid, but nearing completion

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Prometeon share ownership pie chart

Yokohama’s Prometeon bid: Delayed by Covid, but nearing completion

Today Yokohama announced that it is consolidating its OTR tyre businesses into Yokohama Off-Highway Tires, which could be read as a prelude to the announcement Yokohama’s bid for the Prometeon tyre business. Roughly a year after the story broke, Yokohama’s bid for Prometeon isn’t the best kept secret in the tyre industry. Tyres & Accessories first heard talk of Yokohama’s bid for the ex-Pirelli industrial and commercial vehicle tyre business back in July 2019. The news was reported world-wide after we broke the story in September 2019, followed days later by third-party confirmation from the Chinese side of the deal. At that time, the deal was set to go public by the end of 2019. A few months later at the start of 2020, the timeframe switched to an end-of-first-quarter 2020 deadline. Then the coronavirus pandemic happened. And in the months that have followed things have gone quiet. So, where is Yokohama’s bid for Prometeon up to? The latest news is that deal is still on-track, but that there have been a few changes along the way. Here, Tyres & Accessories brings an update on the status of the acquisition and offers a different view on the deal by looking at it from a South American perspective.

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Related news:

  1. Yokohama to buy ex-Pirelli commercial/industrial tyre business Prometeon
  2. Pirelli truck tyres separating and merging with Aeolus/ChemChina
  3. Camfin gains right to buy up to 15% of Pirelli shares
  4. Yokohama consolidates OTR tyre businesses into Yokohama Off-Highway Tires
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Palatine Private Equity takes majority stake in NRG Fleet Services

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Private equity firm Palatine Private Equity has completed the acquisition of a majority shareholding in NRG Fleet Services Ltd, a fast-growing provider of specialist services to the commercial vehicle sector. Headquartered in Skelmersdale, Lancashire, and operating 10 national technical centres, NRG has annual revenues of £90m and employs 280 people. It comprises two divisions, Riverside Truck Rental and Direct Tyre Management.

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Related news:

  1. Compilator invests in fleet business with Inforoute acquisition
  2. Sumitomo MTS acquisition ‘ensures continuity’ of management, brand strategy
  3. Bridgestone buys ETB, Britannia Tyres
  4. Goodyear buys Easy Tyre and Autocentres
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