Dealer Tire, LLC has announced that it is making “a significant investment” in SimpleTire, a Philadelphia-based online tyre retailer that has developed an e-commerce platform and network of independent tyre distributors. Terms of Dealer Tire’s investment were not disclosed. The news follows Dealer Tire’s decision to invest in Tyrata – a Duke University tyre sensor and data startup – in February 2018.
15 months after bidding got underway, Qingdao-based Doublestar and its consortium of Chinese banks and investors bought 45 per cent of the South Korean tyremaker Kumho Tire over the Easter weekend. Whatever other clauses are written into the deal, following the release of shares issued for the purpose of the sale, Kumho Tire’s creditors will own a 23.1 per cent shareholding in the tyre maker, down from 42.01 per cent. This makes the Chinese tyre firm controlling shareholders in South Korea’s Kumho Tire.
The Executive Board of Axle Group Holdings Limited have ratified a £12 million, three-year inward investment strategy to help drive its business forward. Further announcements specifically relating to the firm’s acquisition strategy are expected.
More than 250 million euros will be invested into Pirelli’s business in Latin America over the next three years in order to reinforce its ‘High Value’ strategy within the consumer tyre segment. The investment plan was announced by Marco Tronchetti Provera, executive vice-chairman and chief executive officer of Pirelli, during his visit to the company’s […]
A new compounding system will be installed at Marangoni’s plant in Rovereto, Italy. The retreading company says it is continually investing in technologies to meet the demand for improved compounds for the evolving tyre market, including advances for dosing, handling, management and checking of raw materials.
Well-known Finnish test centre Test World is expanding its year-round testing options. According to the company, this year it is more than doubling the length of the existing natural snow and ice platforms, and introducing asphalt tracks for wet and dry braking and aquaplaning, all under one roof. The new and extended indoor tracks will be opening from April 2018.
Sir Bill Cash, MP for Stone officially cut the ribbon on a giant machine tool as part of an investment of over £1 million by the car parts manufacturing company Klarius.
Dealer Tire, a US replacement tyres and parts distributor for automotive dealerships, has announced it is the leading investor in financing Duke University startup Tyrata, a tyre sensor and data management company.
Petlas Tire and Trade Corp. reports that it recently completed its Final Finish Sorting System (FFSS) and also started to build a fully automatic warehouse.
With that smart warehouse Petlas aims to have product traceability feature from production line to delivery to all its customers around the world. In addition, the smart warehouse means less space and effectiveness compared with other conventional solutions.
Online retailer Tyremarket.com is seeking to establish a market leading position in India through its latest investment drive. With India already the world’s second-largest internet user, and online transactions expected to rise rapidly in the next few years, the company is pursuing a strategy to reach the top spot in what is one of the largest developing tyre markets too. Lead by former Siemens executive Sanjeev Agrawal, and with UK online tyre retailer Blackcircles.com founder Michael Welch OBE on board as strategic adviser and shareholder, Tyremarket.com states that it is “on track for market leading position in the $5 billion plus domestic replacement market.”
Univergomma Spa, the apparent number two in the Italian tyres replacement market, has reported significant sales improvement in 2017. The firm specifically reported a turnover figure north of 135 million euros. This figure includes international sales, with particular success reported in the Europe, Middle East and Africa (EMEA) region.
Belarusian tyre maker Belshina is investing an undisclosed sum to expand its heavy tyre capacity. The project will see production of all-steel radial industrial tyres with 25- to 29-inch rim diameters begin within the main factory at Belshina’s heavy tyre plant. Plant director Vadim Nikitenko shares that Belshina intends to begin serial production of these tyres in sizes 18.00R25, 17.5R25, 20.5R25 and 23.5R25 by the end of this year.
Already a market leader in the agricultural tyre segment in the North Africa, Middle East and Eastern Europe, Turkish tyre manufacturer Petlas is now aiming to increase its passenger car and truck tyre sales figures in the years to come. To this end, the firm reports that it made a series of investments in its passenger car tyre production during 2017.
North Carolina’s Edgecombe County will build a manufacturing training centre at Kingsboro to provide a trained workforce for Triangle, as part of its agreement with Chinese tyre manufacturer.
Triangle Tire’s decision to build its North American manufacturing facility in North Carolina was helped by the offer of $152 million in state and local financial enticements, state officials announced December 19. The company will receive $66 million in state incentives and $86 million from Edgecombe County. The two-phase project is expected to be complete by 2023.
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