ATG launches four new patterns at Tyrexpo Asia
Alliance Tire Group launched four new patterns to its materials handling range of tyres at Tyrexpo Asia. All four are introductions to ATG's Galaxy range of products.
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Reports: KKR close to Alliance Tire Group buyout
NewsReports from India suggest private equity firm KKR and Co. is in the last stage of talks to buy as much as an 80 per cent stake Alliance Tire Group. The latest news, which follows a couple of months of speculation about the deal, values the company at around US$600 million. According to livemint.com, KKR will buy out the stake currently held by another private equity firm, Warburg Pincus Llc, as well as the minority stake held by certain other stakeholders.
Three SIMA debutants from ATG
NewsAt last week’s SIMA show in Paris, Alliance Tire Group launched three new patterns; the tyre maker says all three utilise state of the art IF and VF technologies, designed at the group’s research and development testing. ATG says its IF and VF products have undergone “comprehensive lab and field testing” and the range will be completed in the coming future.
Further Alliance Tire Group sale reports
NewsThe latest round of speculation associated with the sale of shares in Alliance Tire Group puts Kohlberg Kravis Roberts (KKR), Blackstone, TPG Capital and Advent International at the front of the pack. According to a Times of India report published on 20 February the firms are “set to fire bids valued at more than US$300 million to acquire majority shares in Alliance Tire Group.” Standard Chartered Private Equity is also said to be bidding.
TGI appoints international program sales VP
NewsUS wholesaler Tire Group International has expanded its international sales team with the appointment of Luis Torres as the company’s new vice-president of international program sales. Torres, who has more than 25 years of experience within the tyre industry, joins TGI from the Alliance Tire Group, where he served as export sales manager. Prior to this he was director of export sales at Hercules Tires International. According to TGI, Torres boasts a vast amount of experience in all tyre segments, with particular emphasis on agricultural, industrial and OTR.
New factory, more capacity: Alliance outlines India production plans
NewsNews out of India indicate Alliance Tire Group is planning to erect a new OTR tyre plant there and boost capacity at another plant. According to a report in the Business Standard, the tyre maker is looking at investing a total of around US$160 million; this will go towards a 50,000 tonne per annum greenfield facility in Gujarat state and to boost output from the company’s Tamil Nadu factory from 48,000 tonnes per annum to 61,000 tonnes. A co-generation plant will also be installed in Tamil Nadu.
Alliance Claims Industry First with All-Steel Flotation Radial
NewsThe 390 – an all-steel radial flotation tyre released by Alliance Tire Group in the US – has become the first flotation radial to receive Department of Transport certification for highway use at 50mph. According to Michel Aguon, Alliance Tire Americas’ product manager, the 390 is also the industry’s first all-steel flotation radial plus the first that can carry nearly 11,000 pounds (5,000kg) of load at 50mph.
Alliance Europe Opens New Head Office
Company NewsAlliance Tire Group has selected the Netherlands town of Halsteren as the location for Alliance Europe BV’s new office, commenting that the site positions it well to ensure improved responsiveness and to serve the market in a quick and reliable manner. The company adds that the move to a new office “facilitates the group’s ability to provide excellent customer support and sales services to its European business partners.”
Alliance Tire Buys GPX Assets
Company News, International News, Legislation, NewsJust a day after GPX International Tire Corporation (GPX) filed Chapter 11 bankruptcy protection, Israel-based Alliance Tire Group announced it has signed an agreement to purchase certain assets for a reported $38.3 million. According to Alliance, the deal includes: “GPX’s US operations, customer relationships, warehouse footprint, worldwide rights to the Galaxy and Primex brands, the company’s medium radial truck tyre distribution business and the Company’s South African entity, GPX Tyre South Africa (Pty.).”
According to GPX the purpose of entering chapter 11 was “to separate the company’s operations into three distinct businesses in order to facilitate the sales of those businesses in transactions, which will allow 95 per cent of the company’s current North American workforce to remain employed.” Crucially, the statement points out that “the company will wind down its European operations.” GPX also explained that it has buyers lined to purchase various parts of the business.
Alliance Appoints Trio of VPs
Product NewsAlliance Tire Group has announced that the Company appointed Jean-Paul Spijker as vice president sales global OEM, B.S. Rama Murthy as group vice president commercial and D. Suresh as vice president of Technology function at the end of February.
