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Fintyre acquisition shows fast-growing firm is ‘doing OK’

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European finTyre Distribution (EFD) has been growing rapidly since its private equity owners Bain Capital backed the acquisition of Italian tyre wholesaler Fintyre back in March 2017. Since then the company has been on the acquisition trail, buying Pneusmarket and Franco Gomma in Italy as well as Reiff and most recently Reifen Krieg in Germany – all in order to build a “European tyre distribution group”. Tyres & Accessories recently spoke with Fintyre managing director Mauro Pessi and asked who’s next and what’s the exit plan?

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Related news:

  1. Fintyre to open London head office
  2. EC clears Bain Capital’s acquisition of Reiff’s tyre distribution business
  3. European FinTyre Distribution buys Reifen Krieg
  4. Restructuring announced as Fintyre Group misses January wages
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Vietnam Rubber Group announces IPO

Vietnam Rubber Group (VRG), a state-owned business and country’s largest rubber producer/exporter, is scheduled to launch an initial public offering (IPO) on 2 February 2018 with shares being listed on the Ho Chi Minh Stock Exchange in June or July.

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Related news:

  1. China's Rubber Imports Jump 25% in July
  2. Goodyear to Gain Compensation from Jamaica Subsidiary Liquidation
  3. Cooper uncertainty good for Apollo share price
  4. Triangle to upgrade PCR and TBR production with IPO funds
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Pirelli IPO marks landmark in new ownership structure

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If Pirelli’s sale to the ChemChina-led consortium in 2015, along with the legal and integration work in 2016 wasn’t enough, 2017 is proving to have been another complex and busy year for Pirelli. The last 12 months have seen the company pass two key landmarks in its post-acquisition strategy: the separation of the industrial tyre business (including industrial, truck, OTR and agricultural operations) into the new Prometeon Tyre Group in the first part of year; and the successful re-listing of the Pirelli in the autumn. The latest news is that Pirelli’s major shareholder – Marco Polo International – has increased its shareholding in Pirelli following the IPO by exercising a greenshoe option.

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Related news:

  1. Pirelli shareholding to be controlled by ChemChina
  2. ChemChina proudly showing Pirelli connection
  3. Wang Feng resigns as Aeolus Tyre chairman
  4. Pirelli truck tyres separating and merging with Aeolus/ChemChina
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Jiangsu General seeking to leverage IPO for export growth

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In August Chinese tyre manufacturer Jiangsu General Science Technology Co. Ltd established a base in the USA. At the same businesses unfamiliar with the firm took an interest. With this in mind, during a recent visit to China, Tyres & Accessories met with Jiangsu General general manager Wang Xiao Jun in order to find out more about the company.

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Related news:

  1. Jiangsu General investing US$300 million in Thailand tyre plant
  2. Linglong IPO attracts 2000x more interest than offer
  3. Prinx Chengshan invests £19 million in purchasing land for new Thailand tyre factory
  4. Jiangsu General investing $204 million in Cambodia car tyre factory
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Uniwheels for sale? Controlling shareholder assessing “strategic options”

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A sharp dip in the Uniwheels AG share price was reversed on the afternoon of 4 October after the company informed the Warsaw Stock Exchange (WSE) about its controlling shareholder’s decision to “assess its strategic options.” Uniwheels Holding (Malta) Ltd., a holding company owned by former Uniwheels chief executive officer Ralf Schmid and his brother Michael, is currently “at an initial stage” with its assessment, reported the German alloy wheel manufacturer.

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Related news:

  1. Up to 25% share in Schaeffler to be sold through IPO
  2. Triangle Tire gains IPO approval
  3. Pirelli IPO marks landmark in new ownership structure
  4. Uniwheels proceeding with IPO and Warsaw Stock Exchange listing
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Triangle IPO underway

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Triangle Tire’s initial public offering (IPO) got underway as planned on 9 September with the company becoming a public traded entity on the Shanghai Stock Exchange. The listing became active 10 September 2016 following approval by the China Securities Regulatory Commission (CSRC) on 19 August 2016.

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Related news:

  1. Triangle to upgrade PCR and TBR production with IPO funds
  2. Triangle IPO on for early September
  3. Linglong IPO attracts 2000x more interest than offer
  4. Linglong market value exceeds RMB 50 billion
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Triangle to upgrade PCR and TBR production with IPO funds

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Following yesterday’s confirmation that Triangle is going ahead with the initial public offering (IPO) on the Shanghai stock exchange the company planned last year, the company has revealed a number of other key details.

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Related news:

  1. Triangle IPO on for early September
  2. Triangle IPO underway
  3. Linglong IPO attracts 2000x more interest than offer
  4. Jiangsu General investing US$300 million in Thailand tyre plant
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Triangle IPO on for early September

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The China Securities Regulatory Commission (CSRC) approved Triangle Tires’ most recent initial public offering (IPO) bid. Qingdao, Shandong Province-based tyre manufacturer Triangle was one of 13 firms to receive a CSRC go-ahead on Friday 19 August. The IPO is set to take place in Shanghai. An official IPO announcement is expected in September.

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Related news:

  1. Triangle to upgrade PCR and TBR production with IPO funds
  2. Triangle IPO underway
  3. Serbia open for business
  4. Linglong IPO attracts 2000x more interest than offer
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Linglong market value exceeds RMB 50 billion

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When the Shandong Linglong Tire Co., Ltd. IPO went live on 6 July and the tyre maker’s shares became available on the Shanghai Stock Exchange, their value increased by 44 per cent on the first day. The company reports that by 19 July the total market capitalisation in Linglong Tire had reached RMB 50.508 billion (£5.7 billion), giving the company the top ranking from 33 ‘A’ share (mainland China-based) listed companies in Yantai, the number three spot amongst ‘A’ listed companies in Shandong and 128th position in China as a whole.

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Related news:

  1. Linglong IPO attracts 2000x more interest than offer
  2. Triangle IPO on for early September
  3. Triangle to upgrade PCR and TBR production with IPO funds
  4. Triangle IPO underway
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Linglong IPO attracts 2000x more interest than offer

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On 21 June Shandong Linglong Tyre Co Ltd announced it would issue 200 million shares of common stock at 12.98 yuan per share as part of its initial public offering (IPO) on the Shanghai Stock Exchange. At the time, the company said it expected to raise roughly 2.60 billion yuan, which various news sources suggest is intended to fund investment in new tyre production lines.

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Related news:

  1. Jiangsu General investing US$300 million in Thailand tyre plant
  2. Prinx Chengshan invests £19 million in purchasing land for new Thailand tyre factory
  3. Triangle to upgrade PCR and TBR production with IPO funds
  4. Qingdao Doublestar doubling capacity
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Triangle Tire gains IPO approval

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Approval has been given for the long-anticipated Triangle Tire Co Ltd. initial public offering. The Shanghai Stock Exchange disclosed on 6 January that the go-ahead was granted at the meeting of the exchange’s Issuance Examination Committee held earlier that day.

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Related news:

  1. Mesnac consolidates regional operations into global tooling division
  2. Chengshan to buy out Cooper for US$286 million
  3. What cabinet reshuffles and a UK-China free-trade deal might mean for the tyre industry
  4. Guizhou/Advance Tyre release further Vietnam factory plans
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Schaeffler cuts IPO following VW scandal

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In what is being interpreted as fallout of the Volkswagen (VW) emissions scandal, Schaeffler significantly reduced its initial public offering (IPO) after delaying in light of the VW revelations. VW accounts for more than 10 per cent of sales at Schaeffler, which makes ball bearings for products ranging from tools to airplanes.

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Related news:

  1. Is Schaeffler considering another Conti share purchase?
  2. Triangle IPO underway
  3. Reports: Pirelli IPO set for October
  4. Pirelli IPO marks landmark in new ownership structure
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Up to 25% share in Schaeffler to be sold through IPO

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Continental AG majority shareholder and automotive industry supplier Schaeffler today announced its intention to place up to 166 million new and existing non-voting common Schaeffler AG shares with institutional investors and to list these on the Prime Standard segment of the Frankfurt Stock Exchange’s regulated market. The proceeds of this initial public offering will be used to reduce debt within both Schaeffler AG and Schaeffler Holding.

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Becoming a member has benefits such as:

  • Read our sector-leading articles in full
  • Full analysis of tyre business segments
  • Read Tyres & Accessories magazine online/in print

Already a member? Log in here

Related news:

  1. A double win for Conti at TTI Awards
  2. HPTC opening brings Industry 4.0 to Continental’s tyre production
  3. Continental Makes Forbes “Global High Performers” List
  4. There’s money in them tyres – Schaeffler tops Germany’s rich list
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Uniwheels profit up 67% in H1 2015

Alloy wheel manufacturer Uniwheels AG reports sales of 3.9 million wheels in the first half of 2015, 11.3 per cent more than a year earlier and a record first-half volume. This gave the company revenues of €217.0 million, a year-on-year increase of 26.8 per cent. EBITA rose 30.2 per cent in the January to June period to €27.9 million and the margin increased from 12.5 to 12.8 per cent. Net profit rose 66.9 per cent to €19.3 million.

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Related news:

  1. Uniwheels proceeding with IPO and Warsaw Stock Exchange listing
  2. Uniwheels approves IPO share allotment
  3. Uniwheels for sale? Controlling shareholder assessing “strategic options”
  4. Uniwheels reports higher sales, profit in Q1 2017
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