Qingdao Doublestar Tire, owner of Kumho Tire since July 2018, has once again grown through an acquisition. The Chinese tyre maker says it has completed the purchase of Shandong Hengyu Technology Co., Ltd. for RMB 899 million (£103.1 million). Doublestar disclosed in March that it had signed an agreement with Hengyu Technology’s administrator to acquire 100 per cent equity in the business.
Headway Tyres Europe, the European subsidiary of the Asian manufacturer Hengyu Technology Group, has achieved C rated wet grip and rolling resistance with its ultra-high performance tyre, Horizon HU901. The company said this has been achieved as a result of investment in innovation and compound technology. The rating applies to sixteen of the tyre’s nearly 100 sizes between 16” to 24”.
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