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In 2016, the tire industry in the world has changed dramatically, and bankruptcy, mergers and acquisitions, and integration have continued.
Changes in many corporate assets mean changes in the tire market, and also indicate the rapid development of the industry.
The following is a list of the top ten M&A events in the tire industry in 2016.
Yokohama Rubber buys out ATG tires in India In April 2016, Yokohama Rubber Co., Ltd., the parent company of Yokohama Rubber Co., Ltd., acquired all the shares of AllianceTireGroupB.V. (ATG), the holding company of AllianceTireGroup, for US$1.179 billion.
Through this acquisition, Yokohama Rubber has expanded its camp of commercial vehicle tires, added tires for agricultural and forestry machinery, and further accelerated the globalization process.
Sen Qilin Acquires Thailand Lisheng Rubber Industrial Park
On April 11, 2016, Qingdao Sen Kirin Group Co., Ltd. formally acquired Thai Lisheng Rubber Industrial Park.
Sen Qilin said that the industrial park plans to introduce 10 tire processing companies and 10 upstream and downstream supporting companies to build a comprehensive park that is based on the rubber industry, upstream and downstream, and multi-functional.
The total investment of 3.5 billion baht in mergers and acquisitions is a major move for Mori Kirin to further expand the international market. It has a good demonstration effect for Chinese tire companies to “go globalâ€.
Trelleborg took over CGS Holdings In June 2016, the Swedish Trelleborg Group acquired CGS Holdings with 10.9 billion Swedish kronor (approximately RMB 7.97 billion) in cash.
CGS's brand, Mitas, is the world's leading manufacturer of agricultural tires and specialty tires.
The total sales of the two companies together reached 30 billion Swedish kronor by the end of 2015.
With this acquisition, Trelleborg has established itself as a global leader in agricultural tires and has significantly increased its position in the tire manufacturing sector.
Kumho was viewed by a number of companies In September 2016, Kumho Tire’s largest creditor’s shareholder decided to sell 42% of Kumho Tire’s shares, with a market value of approximately KRW 1 trillion (approximately RMB 5.9 billion).
Up to now, five companies have given preliminary quotations, including the China Shanghai Aerospace Industry Corporation and Double Star Tire, India Apollo and others.
Park San-ho, chairman of Kumho Asiana Group, is not willing to raise funds through relevant channels and is preparing to repurchase the company.
Bridgestone absorbs French tire chain retailers In September 2016, Bridgestone announced the completion of a partial deal with French tyre retailer Pneuà basprix.
After the acquisition was completed, Bridgestone added about 450 retail outlets in France and its market network was further expanded.
Aeolus joined hands with Pirelli On October 26, 2016, Fengshen Tire purchased a 10% stake in Pirelli Industrial tires and completed the relevant procedures.
CNPC purchased Pirelli in October 2015 and integrated it with Aeolus Tyre.
At the same time, it did not stop the pace of acquisitions. In June 2016, Aeolus merged CSR Automotive and Qingdao Huanghai Rubber and reintegrated with Pirelli.
Through this series of complex acquisitions, Fengshen Tire will become a large multinational tire company.
Michelin buys Brazilian tire manufacturer
In August 2016, the Michelin Group acquired Levorin Pneuse Camaras, a Brazilian bicycle and motorcycle tire manufacturer.
In 2015, Levorin had 2,000 employees in its facilities in Sao Paulo and Manaus, Brazil, with sales of $155 million.
This acquisition enhances the production capacity of Michelin tires in South America and further extends its production line.
Continental Corporation annexes Hossein tires In November 2016, Continental acquired Hoosier Tire and Rubber Group for approximately 126 million euros.
Howe Tire is the world's largest manufacturer of racing tires. All of its tires are manufactured in the United States, producing more than 1,000 different types of tires.
This merger has added an American stronghold to the Continental Group, which is headquartered in Europe, and further enhanced its production capacity of sports tires.
Hengfeng won Derry Bao On November 25, 2016, some assets of Deruibao Tire Co., Ltd. and Shandong Yulong Rubber Tire Co., Ltd. were successfully auctioned.
Shandong Hengfeng Rubber & Plastic Co., Ltd. won these assets and the final transaction price was 891 million yuan.
Before the bankruptcy in February 2015, Drepo Tire Co., Ltd. had an annual output of 6 million steel tires and 12 million steel tires, ranking among the world's top 75 tires.
After winning Drepo, Hengfeng Rubber and Plastic's tire production capacity increased significantly.
Solid-Platinum merged Greda On December 1, 2016, Cooper Tire & Rubber announced that it had completed the acquisition of a 65% equity interest in Qingdao Gelidar Rubber Co., Ltd. The new company officially changed its name to Cooper (Qingdao) Tire Co., Ltd.
After the acquisition was completed, Cooper Tire added another stronghold in China to get rid of the single source of all-steel supply.
At the same time, its global production system has also increased to eight tire production plants.
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