Michelin is entering into a partnership with Swedish firm Scandinavian Enviro Systems (Enviro) to develop and industrialise on a large scale pyrolysis technology to recycle end of life tyres into raw materials. The two companies signed a shareholding subscription today that will see a subsidiary of the tyre maker, Michelin Ventures SAS, acquire a 20 per cent stake in Enviro.
Braking systems company Brembo S.p.A. has announced that it holds an interest in consumer tyre manufacturer and fellow Formula 1 supplier Pirelli. As of 31 March 2020, Brembo holds a 2.43 per cent stake in Pirelli, both directly and through its parent company Nuova FourB.
Goodyear’s decision to exit UK retreading in 2015, followed by Continental’s 2016 takeover of Bandvulc and Vaculug’s 2018 acquisition by Zenises Group changed the face of the UK retreading business in just three years. However, while the market has both contracted and consolidated in recent years, a core group of key retreading production bases remain. And while the largest retreading businesses often gain the spotlight, it is worth mentioning fast-growing operations as well. Sussex-based Seryt Tyres is one such company, so Tyres & Accessories got in touch with director Kevin Gillin and marketing manager Olly Townsend in order to find out more.
Goodyear plans to acquire a tyre wholesaler in Germany. Should the deal gain approval from the relevant antitrust authorities, Goodyear Dunlop Tires Germany GmbH will purchase Weilheim, Bavaria-based wholesaler and retailer Reifen Baierlacher. The tyre maker has not disclosed how much it will pay for the family-owned business.
Private equity firm Warburg Pincus is investing around £117 million in Apollo Tyres via a subsidiary. On 26 February, the tyre maker’s Board of Directors approved the issue of up to 108 million compulsorily convertible preference shares, each with a face value of Rs 100, to Emerald Sage Investment Ltd. The transaction is subject to shareholder and regulatory approvals.
The Alsdorf, Germany-based 4JET Group has acquired the Hennecke Systems’ TIS testing systems tyre and wheel inspection business unit.
TIS systems are based on Hennecke Systems’ industrial image processing know-how and enable optical 2D and 3D inspection of tyre treads, sidewalls, rims and mounted wheels. As a result of the
Following the news that Goodyear has bought one of its largest and longest-established HiQ franchisees, Easy Tyre and Autocare, Tyrepress got in touch with executives in order to find out more. For example, how much money changed hands? And, considering the latest purchase is the second acquisition of its kind, is Goodyear planning to go full-circle with retail ownership? The short answer is no. But a Goodyear/HiQ spokesperson did say “the acquisition of Easy Tyre and Autocentres further strengthens the competitive advantage of Goodyear and HiQ”, adding:
Goodyear Tyres UK Limited has acquired Easy Tyre and Autocentres, which runs 17 HiQ branches as a franchisee.
Easy Tyre and Autocentres’ branches span from Telford to Kettering, in a geographical area with a high value car parc and, according to Goodyear, represent the “second step” in the company’s ongoing retail strategy. All sites will become Goodyear’s equity operating under the HiQ brand going forward.
Grantham Capital Ltd, which bought well-known independent retreader Vaculug Traction Tyres 18 months ago, filed a £7.2 million fraud action against Vaculug’s former owners on 16 January 2020.
BorgWarner Inc. and Delphi Technologies PLC agreed that BorgWarner will acquire Delphi Technologies in an all-stock transaction that values Delphi Technologies’ enterprise value at approximately $3.3 billion on 28 January 2020.
Market rumours that Pirelli is considering a €9 billion (£7.7 billion) merger with Finland’s Nokian Tyres have been quashed by company spokespeople. Reports that such a deal was on the horizon emerged in mid-January and were then fuelled by re-reporting in the British and Italian press. However, these stories are “without foundation”, according to two Milan-based Pirelli spokespeople that Tyres & Accessories interacted with. Nokian has yet to comment.
German workshop machinery and equipment manufacturer Beissbarth GmbH has acquired API Car Systems GmbH, a developer of robotic systems for touchless wheel alignment. Stargate Capital, which acquired Beissbarth along with Sicam in 2018, reports that API Car Systems became a Beissbarth company as of 1 January 2020. It will continue as a separate legal entity, with its headquarters remaining in Leipzig, Germany.
On 6 January 2020, Cabot China Limited, a wholly owned subsidiary of Cabot Corporation agreed to buy Shenzhen Sanshun Nano New Materials Co., Ltd, a leading carbon nanotube (CNT) producer in China. The $115 million pricetag reportedly includes “liabilities and contingent payments”. According to the company, the move is designed to strengthen Cabot’s position in the high-growth batteries market, particularly in China, which is the largest and fastest growing electric vehicle market in the world.
Private equity firm One Equity Partners (OEP) reports making a “significant minority investment” in Italian workshop machinery and automotive solutions company Nexion S.p.A. Financial terms of the private transaction have not been disclosed.
The Goodyear Tire & Rubber Company is expanding its company-owned presence in the US Midwest through the purchase of Raben Tire for an undisclosed sum. The Indiana-based company operates several retreading facilities as well as more than 30 tyre and service outlets that cater to fleet and private customers.
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