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Michelin to leverage economies of scale with Multistrada privatisation

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Although 99.64% Michelin owned, Indonesian tyre maker PT Multistrada Arah Sarana Tbk is currently a public company. This will soon change, and to facilitate Multistrada’s delisting from the Indonesia Stock Exchange, Michelin has allocated funds of IDR 278.71 billion (£13.66 million) to conduct a tender offer. According to information disclosed by Multistrada on 29 December, Michelin intends to purchase the 0.36% stake owned by 646 public investors, 33,180,234 shares in total, for a tender offer price of IDR 8,400 per share.

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Related news:

  1. Interested parties vie to acquire Indonesian tyre maker Multistrada
  2. Michelin: Acquiring Multistrada will help meet growing tier 2 tyre demand
  3. Michelin now 99.64% owner of Multistrada
  4. Gajah Tunggal: Multistrada merger rumour untrue
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Von Hirschheydt to head independent company following Continental Automotive spin-off

Continental has shared its concrete plan for the spin-off of its Automotive group sector. According to information discussed at a meeting held on Wednesday, the plan involves completing the spin-off of Automotive as a Societas Europaea compnay listed on the Frankfurt stock exchange by the end of 2025. The independent company will operate under a new brand, which Continental will launch by the end of April 2025, under the leadership of Philipp von Hirschheydt.

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Related news:

  1. Two independent companies – Continental evaluating Automotive spin-off
  2. Continental to spin-off Automotive group sector
  3. Continental extends & appoints
  4. “Fully committed” to spin-off – Olaf Schick leaving Continental
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Sailun Group anticipates major rise in profit

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In a stock exchange submission dated 11 October 2024, Sailun Group Co., Ltd. shares its estimation that net profit attributable to shareholders of the listed company for the first three quarters of 2024 will range between RMB 32.10 billion and RMB 32.80 billion (£3.47 billion and £3.55 billion), a year-on-year increase of 58.52 per cent to 61.98 per cent compared with the same period of last year.

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Related news:

  1. SSE debut for new Sailun Group ticker symbol
  2. Work begins on Sailun JV test facility
  3. Sailun boosting Vietnam production to meet demand in Europe & North America
  4. Sailun approves Cambodia TBR project
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IPO for India’s Tolin Tyres

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Today is the third and final day of the initial public offering for Tolins Tyres Ltd., a Kerala, India-based manufacturer of on- and off-highway tyres and tread rubber. According to information supplied by stock exchange BSE, the company is offering up to Rs 2,300 million (£20.9 million) worth of shares, including a fresh issue worth Rs 2,000 million and an offer for sale of up to Rs 300 million by the selling shareholders.

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Related news:

  1. Kesoram to spin off Birla Tyres
  2. Titan International sells Wheels India share
  3. Bridgestone delisting from Nagoya Stock Exchange
  4. Continental included in tyre cartel investigation
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Sailun overtakes Linglong into pole position in China: Analysing the 2022 annual reports of listed Chinese tyremakers

NASA; Unsplash

Recently, Chinese listed companies have released their 2022 annual reports. Tyrepress China conducted a statistical analysis of the annual report data of 10 tyre companies. Among the companies included in the analysis list, Sailun, Linglong, Triangle, Huayi (the parent company of Double Coin), Aeolus, and Jiangsu General are listed on the Shanghai Stock Exchange. Guizhou Tyre, Doublestar, and Sentury are listed companies on the Shenzhen Stock Exchange. The data of Prinx Chengshan comes from the Hong Kong Stock Exchange.

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Related news:

  1. Advanced ID to Supply 2 million RFID Chips to Mesnac in China
  2. EU makes final truck tyre anti-dumping duties decision, retains fixed rates for manufacturers
  3. Rebuilding Sailun: Multi-billion dollar plans for new tyre and materials factories analysed
  4. Shen Jinrong: The competitive advantage of Chinese tyres may be disappearing
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IPO for Hankook subsidiary Model Solution

Last week, a subsidiary of tyre maker Hankook & Company Group (formerly Hankook Tire Group) became the first Korean prototype company to be listed on the KOSDAQ technology index. Model Solution joined the index with a final issue price of KRW 27,000 (£16.71), which was at the upper end of the announced price range.

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Related news:

  1. Hankook launches CMF LAB design database
  2. Hankook Tire shares update on risk detection tech development
  3. Covid-19: Hankook pauses plant production
  4. Hankook Technodome gains trio of safety certifications
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Continental included in tyre cartel investigation

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The Competition Commission of India (CCI) investigation into alleged cartel activities and anti-competitive behaviour doesn’t exclusively focus on local tyre makers. Stock exchange Börse Frankfurt shares news from the German Press Agency (dpa) regarding the visit of CCI officials to a site operated by Continental AG in the city of Faridabad. The statement shares that Continental is “cooperating fully with the authorities” but does not want to comment on the details of this ongoing investigation.

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Related news:

  1. Indian competition body searches tyre makers’ premises
  2. India’s tyre makers meet government to talk rubber prices
  3. India’s competition body shares news of tyre maker cartel
  4. Indian tyre stocks fall back
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Bridgestone delisting from Nagoya Stock Exchange

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Bridgestone Corporation has applied to have its shares delisted from the Nagoya Stock Exchange. Explaining the rationale behind this move, the company notes that it is currently listed on three stock exchanges in Japan – Tokyo, Nagoya and Fukuoka. In order to reduce the management costs and streamline management operations related to duplicate listings, it has decided to delist from the Nagoya Stock Exchange.

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Related news:

  1. Bridgestone decreases stake in Nokian Tyres
  2. Bridgestone cancels Treasury Stock
  3. Toyo sells half its Bridgestone shares
  4. Bridgestone limbering up for Tokyo 2020
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TYRES: Nokian Tyres chancing stock exchange symbol

From the start of trading on Monday 20 May 2019, the stock symbol used to represent Nokian Tyres plc on the Nasdaq Helsinki stock exchange will change from NRE1V to TYRES. The tyre maker’s ISIN is FI0009005318.

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Related news:

  1. Nokian Confirms Lay-Offs
  2. Nokian handed additional tax bill
  3. Nokian Tyres consulting on up to 90-day factory lay-offs
  4. Nokian Tyres adjusting output in Russia, freezes hiring at new USA plant
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Prinx Chengshan goes public ahead of expansion drive

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With the striking of a ceremonial gong, Prinx Chengshan (Cayman) Holding Limited went live on the Hong Kong Stock Exchange at precisely 9:30am on 9 October. The tyre maker’s listing last month followed nearly a year of preparations and represents an important step in a growth and internationalisation strategy that also includes producing in Southeast Asia and making greater inroads into European and North American markets.

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If you are not yet a Tyrepress or Tyres & Accessories subscriber, you can change that here.

Subscribe now

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

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Related news:

  1. Prinx Chengshan to list on Hong Kong Stock Exchange
  2. Prinx Chengshan goes live on HKEX
  3. Prinx Chengshan invests £19 million in purchasing land for new Thailand tyre factory
  4. Prinx Chengshan breaks ground on Thailand tyre plant project
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SSE debut for new Sailun Group ticker symbol

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As of today, Sailun’s ticker symbol on the Shanghai Stock Exchange has changed from ‘Sailun Jinyu Group Co., Ltd.’ to ‘Sailun Group Co., Ltd.’. The tyre maker’s securities code remains 601058.

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Related news:

  1. Sailun Group extends capacity expansion project
  2. Work begins on Sailun JV test facility
  3. Sailun investing big in PCR tyre capacity to reach premium OEMs in China
  4. Sailun raising truck tyre capacity by 3 million units
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Prinx Chengshan goes live on HKEX

The striking of a ceremonial gong at precisely 9:30am this morning marked the listing of Prinx Chengshan (Cayman) Holding Limited on the Hong Kong Stock Exchange. Today’s listing follows nearly a year of preparations and represents an important step in the company’s growth and internationalisation strategy. Trading under stock code 1809, Prinx Chengshan is the first China-based tyre manufacturer to join the HKEX.

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Related news:

  1. Prinx Chengshan to list on Hong Kong Stock Exchange
  2. Prinx Chengshan goes public ahead of expansion drive
  3. Prinx Chengshan invests £19 million in purchasing land for new Thailand tyre factory
  4. Prinx Chengshan the only HKEX-listed tyremaker at Tire+
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Prinx Chengshan to list on Hong Kong Stock Exchange

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Next month, Prinx Chengshan will become the first Chinese tyre maker to be publicly listed on the Hong Kong Stock Exchange. Michael Chu, deputy general manager of the company’s international sales centre, told Tyrepress.com that the listing is expected to take place on 9 October. This move has been more than a year in the planning.

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Related news:

  1. Prinx Chengshan goes public ahead of expansion drive
  2. Prinx Chengshan goes live on HKEX
  3. Prinx Chengshan invests £19 million in purchasing land for new Thailand tyre factory
  4. Prinx Chengshan building Southeast Asia factory
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Uniwheels shares to join WSE small-cap index

According to a Warsaw Stock Exchange Management Board resolution of 13 August 2015, shares in Uniwheels AG will be included in the sWIG80 index following the trading session of 18 September 2015 as a result of quarterly adjustment. The changes will become effective from 21 September 2015.

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Related news:

  1. Uniwheels to increase alloy wheel capacity with 3rd Polish plant
  2. Uniwheels proceeding with IPO and Warsaw Stock Exchange listing
  3. Uniwheels approves IPO share allotment
  4. Ralf Schmid retiring as Uniwheels CEO, will chair supervisory board
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