Schalke 04 and South Korean tyre manufacturer Kumho Tyre have agreed to a partnership deal running until the end of the 2016/17 season, which includes the option for a further year. Founded in 1960, Kumho are now selling more than…
Category: Investments
Shares of Goodyear Tire & Rubber (GT) fall
Shares of Goodyear Tire & Rubber (GT) fell 5.69% to US$26.44 in morning trading Tuesday. It came amidst the company’s announcement that it now expects full-year 2014 segment operating income (SOI) growth to be slightly below its original 10% to 15% range. The…
Conti’s aim to buy Veyance slows down; aims for 5% growth this year
Germany’s Continental aspires to purchase Veyance Technologies Inc. from the Carlyle Group, but has been slow in doing so. This is because it faced a huge roadblock in December when it received a conditional approval from the US Department of…
Sumitomo buys Swiss rubber parts maker for the pharma sector
Japan’s Sumitomo Rubber Industries (SRI) is expanding its business of rubber parts for pharmaceutical packaging by acquiring all shares of Lonstroff Holding AG (a Swiss company), which are currently held by BV Holding AG (a private equity fund). The consideration…
New ringtread partner in Marangoni European network based in Norway
Italy’s Marangoni Retreading Systems and Gummiservice Produksjon of Rade, Norway, have signed a cooperation agreement. With some 40,000 retreaded tyres per year, Gummiservice Produksjon is a highly significant market player in Norway and Sweden and has been established for many…
Automotive supplier Faurecia launches new plant
Automotive supplier Faurecia (the 6th largest in North America) has launched a new automotive plant in Missouri. It measures 81, 844 sq ft and is Faurecia’s 47th production site in North America. It started production in September, and employs 180…
Michelin ties up with Chinese firm for shoe soles
French tyre maker Michelin and Jihua, Chinese textile and technical apparel titan, have formalised a partnership, to forge an alliance to take a giant step in high-performance soles and technical footwear. Their aim is to ultimately become a global leader…
GHX buys subsea hose supplier
Houston-based GHX Industrial, a subsidiary of The United Distribution Group, has acquired the operations and assets of Houston-based Hose & Fittings (HFI), an ISO 9001: 2008 certified company that is a fabricating distributor and key supplier to oilfield companies and…
Dmack secures £3.5m investment from Maven
Tyre brand Dmack, famous for being the second tyre supplier in the 2011 FIA World Rally Championship has secured an investment of £3.5m from private equity managers Maven. The investment is expected to fund the next wave of the company’s…
EnPro completes GRT rubber unit sale
US-based EnPro has completed the US$44 million sale of its GRT rubber manufacturing unit to GRT Rubber Technologies, a newly formed business funded by an investor group led by Main Street Capital Corp. EnPro will make Fabrico part of its…