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Millbrook’s Test World acquisition followed ‘strategic collaboration’

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The formal agreement to acquire Test World was preceded by the establishment of a “strategic collaboration” between Millbrook and the Finnish facility in June 2015. The collaboration was announced at Automotive Testing Expo Europe 2015, in Stuttgart which ran from 16 – 18 June. There the growing partnership between the two companies could be seen in their adjoining exhibition stands designed to demonstrate the range of facilities and services the two businesses can offer.

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Related news:

  1. Millbrook buys Test World
  2. Millbrook expanding Test World facilities in Finland
  3. Test World opening indoor wet and dry asphalt test tracks
  4. Hankook building winter tyre proving ground in Finland
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Millbrook buys Test World

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Millbrook, the well-known vehicle test, validation and engineering service provider, signed a contract to acquire specialist winter test centre Test World on 14 September. No price-tag has been publically released.

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Related news:

  1. Hankook building winter tyre proving ground in Finland
  2. Michelin buys ‘Fox Farm’ test centre in Ivalo, Finland
  3. Technotrac: Hankook Tire opens own winter test facility in Finland
  4. Test World opens newly expanded indoor proving ground
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JK Tyre acquires Kesoram subsidiary, tyre factory

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The acquisition of tyre, tube and flap manufacturer Cavendish Industries Ltd. has been approved by the Board of Directors at JK Tyre & Industries. The Indian tyre maker is acquiring 100 per cent equity in Cavendish from Kesoram Industries Ltd. for just under Rs 22 billion (£214.6 million). According to JK Tyre, it and other JK Group companies will fund the acquisition by a combination of debt and internal accruals, and JK Tyre’s financial exposure is expected to be some Rs 4.5 billion (£43.9 million). The deal is expected to close in December 2015.

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Related news:

  1. Kesoram to invest almost £30M in PCR tyre production
  2. Truck/bus radial production reaches 10M mark at JK Tyre
  3. JK Tyre now 26% shareholder in Treel Mobility Solutions
  4. It’s “high time” for anti-dumping duties, says JK Tyre & Industries’ Singhania
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Mitas acquires Australian distributor, opens local sales office

Mitas will have its own physical sales presence in Australia before the end of this year following the company’s acquisition of local Mitas tyre importer and distributor, Mityre Australia Pty Ltd. The deal will come into effect in the fourth quarter of 2015.

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Related news:

  1. Jax and Quick Fit Merge
  2. Trelleborg acquires Australian agricultural tyre business
  3. Tyres4U buys Tyre and Tube Australia
  4. GRI acquires Australia’s Axis Tyres
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Carlstar sells belts business to Timken

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The Carlstar Group has agreed to sell its Carlstar Belts Business to Timken Company. The transaction is expected to close in the third quarter of 2015 following customary government and regulatory approvals.

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Related news:

  1. 96% of Pirelli shares purchased by Marco Polo
  2. Trelleborg buys Brazil-based industrial tyre manufacturer Standard Tyres Group
  3. Yokohama acquires Aichi Tire Industry
  4. Mahansaria Tyres Private Limited (MTPL) completes acquisition of EATD
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Auto Windscreens buys AA AutoWindshields

Auto Windscreens has acquired AA AutoWindshields, the AA’s automotive glazing business for an undisclosed sum.

The deal will see AA AutoWindshields’ Preston offices and its 200 staff and technicians integrated with Auto Windscreens and, under a 10-year partnership arrangement, the AA will continue to use Auto Windscreens to deliver glass repair and replacement services for AA members; its business-to-business and insurance customers.

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Related news:

  1. Auto Windshields completes AA AutoWindshields acquisition
  2. First winners of Auto Windscreens’ ‘Clearly the Best’ competition
  3. National sales manager for Auto Windscreens
  4. Tyretraders.com enters administration
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Michelin acquires second German wholesaler

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Last year Michelin made news when it bought out the parent company of Germany’s largest wholesaler, Ihle Baden-Baden AG, and now the French tyre maker has increased its wholesale presence in Germany with the 100 per cent acquisition of Meyer Lissendorf, a wholesaler with a strong car tyre focus. Michelin has not disclosed the purchase price.

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Related news:

  1. Michelin to buy Germany’s largest tyre wholesaler
  2. German authorities give Michelin green light to acquire Ihle Baden-Baden
  3. Michelin acquisition “rescues” German tyre wholesaler
  4. EC clears Bain Capital’s acquisition of Reiff’s tyre distribution business
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BorgWarner to acquire Remy International

BorgWarner has entered into a definitive agreement to acquire Remy International, Inc. (Remy), a global producer of rotating electrical components. With key technologies and operations in ten countries on five different continents, Remy is strongly positioned to benefit from global growth. As of December 31, 2014 the company employed 6,600 people and, for the fiscal year, it generated sales of $1.2 billion.

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Related news:

  1. Uni-Select Inc. acquires The Parts Alliance Group
  2. Autosupplies Group to acquire Leisureways UK Ltd
  3. Andrew Page gets further growth funding
  4. ELTA subject of management buyout
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Magna International to acquire transmission supplier Getrag

Today, Magna International Inc. announced the signing of an agreement that will see it acquire the Getrag Group of Companies, one of the world’s largest suppliers of automotive transmissions.

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Related news:

  1. Delticom Acquires Asian Retail Portal
  2. Cooper: Chengshan worth US$440 million, say valuers
  3. Sumitomo Rubber acquires Sport Direct International’s Dunlop brand rights
  4. Two hundred year-old firm snapped up by Tetrosyl
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MIRA sold to Japan’s Horiba

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The Tokyo-listed Horiba Group has acquired MIRA Ltd’s entire business operations for approximately £83.1 million. Horiba states it purchased the UK-based company in order to expand its vehicle development and testing business, and to further the development of next-generation mobility solutions, such as autonomous vehicles. A new firm, HRA International Ltd., was established in the UK on 5 June 2015; this took over MIRA’s assets yesterday and commenced operations as Horiba MIRA Ltd.

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Related news:

  1. Michelin to capitalise on Blackcircles.com, ATS Euromaster ‘synergies’
  2. Sumitomo Rubber Industries to acquire Micheldever Group
  3. Sumitomo MTS acquisition ‘ensures continuity’ of management, brand strategy
  4. PSA acquires Opel/Vauxhall
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Court dismisses Cooper Tire shareholder lawsuit

The US District Court in Delaware has dismissed the class action against Cooper Tire & Rubber that followed the unsuccessful Apollo Tyres acquisition attempt. The lawsuit, which was filed in January 2014, alleged the tyre maker, along with CEO Roy Armes and CFO Bradley Hughes, violated US federal securities laws by misrepresenting its financial condition, financial prospects, and the effectiveness of its internal controls. The action was filed by law firms Entwistle & Cappucci LLP and Bernstein Litowitz Berger & Grossmann LLP on behalf of Cooper Tire investors OFI Risk Arbitrages, OFI Risk Arb Absolu and Timber Hill L.L.C.

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Related news:

  1. Cooper Appoints New HR Senior VP
  2. Cooper counters Apollo offer reduction talk with statement
  3. Cooper not yet ready to resume financial reporting
  4. Long awaited Cooper 2013 3Q report reveals Apollo, Chengshan damage
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MAM buys Origin Software Solutions

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MAM Software has announced the acquisition of Origin Software Solutions Ltd (“Origin”), a UK-based provider of e-commerce solutions for the automotive aftermarket.

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  • Read our sector-leading articles in full
  • Full analysis of tyre business segments
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Related news:

  1. Michelin buys Blackcircles.com for £50 million
  2. Michelin to capitalise on Blackcircles.com, ATS Euromaster ‘synergies’
  3. Andrew Page, The Parts Alliance buy 33 Unipart Automotive branches
  4. Parts Alliance acquires 3 more Unipart Automotive sites, appoints ex-Car Care head
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JK Tyre denies Birla acquisition report

Indian manufacturer JK Tyre denies it is negotiating the acquisition of Birla Tyres with current owner Kesoram Industries. Responding to an article published by Indian financial daily The Economic Times earlier today, the tyre maker told BSE Ltd (the Bombay Stock Exchange) that “there is no transaction between JK Tyre & Industries Ltd. and Kesoram Industries Ltd.”

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Related news:

  1. JK Tyre acquires Kesoram subsidiary, tyre factory
  2. Overseas purchases, plant on JK Tyre agenda
  3. Kesoram to invest almost £30M in PCR tyre production
  4. Cavendish now a JK Tyre subsidiary
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EU gives ChemChina green light for Pirelli purchase

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ChemChina (China National Chemical Corp) has gained European Union antitrust approval for Pirelli takeover. According to a Reuters report, the completed transaction would give the combined company a 10 per cent market share. As a result, ChemChina unit China National Tire & Rubber is now expected to go ahead with plans to set up a joint venture to acquire a 26.2 per cent stake from Italian holding firm Camfin and then make a mandatory takeover bid for the rest of Pirelli.

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Related news:

  1. Pirelli shareholding to be controlled by ChemChina
  2. ChemChina now holds 30% of Pirelli shares
  3. Pirelli and ChemChina agree closing date, triggering mandatory tender offer
  4. Pirelli reverse merges with Marco Polo
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Antitrust authorities approve Mahle’s Delphi Thermal acquisition

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Mahle has acquired the thermal business of UK automotive supplier Delphi Automotive, following approval from antitrust authorities on 1 July 2015. The Stuttgart-based group is expanding its Thermal Management business unit, which it describes as “strategically important”. Mahle reasons that its increased commitment in the sector is due to a comprehensive, energy-efficient thermal management system being as much in demand for combustion engines as for electric drives or fuel cells.

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Related news:

  1. Mahle acquires thermal management division of US automotive supplier Delphi
  2. Andrew Page, The Parts Alliance buy 33 Unipart Automotive branches
  3. Unipart Automotive branches’ fate – full list
  4. Parts Alliance acquires 3 more Unipart Automotive sites, appoints ex-Car Care head
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