Maxxis Climbing the Charts of Largest Tire Firms
May 21, 2013
Maxxis International has reported another strong year of growth for the 12 months to January 2013.
Results from the last financial year show Maxxis tire sales figures surpassing $4.5 billion for the first time, up over $2 billion in th...
Apollo Tyres Not Raising Funds, Still Looking to Expand
May 20, 2013
India's Apollo Tyres has dropped plans - for now - to raise $150 million intended for business expansion.
The fund raising would have been through a Qualified Institutional Buyers offering. Apollo said it dropped the scheme due to ...
New Investors Looking at Buying Stake in Pirelli Holder
May 20, 2013
Reuters reported on May 17 that unnamed outside "industrial and financial investors are in talks to buy a stake in Camfin," which holds controlling interest in Pirelli SpA.
Pirelli chairman and CEO Marco Tronchetti Provera cont...
Morgan Stanley Sees Plenty of Gains for Cheng Shin
May 17, 2013
According to a recently published consolidated financial summary for Cheng Shin Rubber, the Taiwanese tiremaker's net sales and profits are expected to steadily climb over the next couple of years.
The Morgan Stanley Research summary e...
Profits Surge as Apollo Reports FY2013 Results
May 15, 2013
For Apollo Tyres, the 2013 financial year ended on March 31, and the tiremaker reports that its profit was up almost 50% for the full year.
Apollo's net profit for its recent fiscal year amounted to Rs 6.1 billion, a 48.8% year-on-year...
Snap-on Acquires Challenger Lifts
May 15, 2013
Snap-on has acquired Challenger Lifts, maker of a range of in- and above-ground automotive lifts, as well as mobile, home garage and motorcycle lifts and lift accessories, in a $38 million deal.
Schaeffler Ending Conti Investment Agreement
May 14, 2013
Schaeffler Group has given notice that it is ending its mutual investment agreement with Continental AG. Unless there is a change of heart, the agreement will terminate in May 2014.
Malacalza Resigns Pirelli Board Over Decision Process
May 13, 2013
Vittorio Malacalza resigned from Pirelli SpA on May 10, stepping down from the position of deputy chairman and member of the board and prompting a clarification from the company's corporate headquarters in Milan.
Malacalza indirectly o...
Kumho Shakes it Off, Posts Positive Results for 2012
May 9, 2013
After years of losses, most due to the extensive "workout program" it undertook when its then-parent company faced financial difficulties, Kumho Tire Co. has posted positive sales and net earnings numbers.
For its fiscal 2012, ...
Arsenal Adds Another Tire Fill Firm
May 6, 2013
No sooner had the ink dried on its deal to buy Arnco, Arsenal Capital Partners acquired Pathway Polymers, a producer of polyurethane tire fill material and equipment.
Arsenal did the deal through its Dash Multi-Corp. portfolio unit; bo...
Bridgestone Shifts Ownership of Nokian Shares
May 3, 2013
Bridgestone Europe will transfer its shares in Nokian Tyres to parent Bridgestone Corp. on May 7, the Japanese tiremaker told Nokian.
This agreement decreases Bridgestone Europe's ownership in Nokian to less than 5% of share capital an...
Arnco Acquired by Private Equity Firm
May 2, 2013
Arsenal Capital Partners has acquired polyurethane product producer Arnco.
Established in 1971 and based in South Gate, Calif., Arnco operates through five main business units: Arnco Tire Flatproofing; Arnco Performance Polymers; Caref...
Schaeffler Could Be Eying 2014 IPO
April 26, 2013
Continental AG majority owner Schaeffler AG is reportedly considering an initial public offering next year in Germany, according to a Bloomberg news report.
The report said that unidentified insiders told Bloomberg that Schaeffler is &...
Pep Boys: Sales Up, Earnings Down in 2012
April 17, 2013
Pep Boys' sales for fiscal year 2012 increased by $27.1 million, while net earnings were $12.8 million, compared to $28.9 million recorded in fiscal 2011.
Bridgestone: Low U.S. Tire Demand Means Less Rubber
April 15, 2013
Bridgestone Corp. has reported it may use 2.6% less rubber in 2013 than originally projected as replacement tire demand in the U.S. will be slower than forecast, according to Bloomberg Businessweek.
On Feb. 18, Bridgestone said it woul...
Continental AG: Q1 Sales Lower Than Expected
April 15, 2013
Continental AG has reported its sales for the first quarter of 2013 fell slightly more than its projected drop between 1% and 3%. Q1 operating profit declined below very strong year-ago levels, but stayed within expectations, reported Reuters.
Mann+Hummel Takes Over Purolator Filters from Bosch
April 3, 2013
The Mann+Hummel Group, based in Ludwigsburg, Germany, is taking over Purolator Filters LLC, previously a joint venture between Bosch and Mann+Hummel. The business will continue to be based in Fayetteville, N.C., but will be renamed to Mann+Hummel Pur...
ATD Grows in Canada With Latest Acquisition
April 2, 2013
TriCan Tire Distributors Inc., a subsidiary of American Tire Distributors Holdings Inc., is buying all outstanding shares of Burlington, Ont.-based Regional Tire Distributors Inc....
Superior Industries Board OKs Stock Buyback
March 28, 2013
The board of directors of wheel producer Superior Industries International Inc. approved a stock repurchase program that authorizes the repurchase of up to $30 million of the company's common stock.
Under the scheme, Superior may repur...
Equity Group Takes Over Raybestos Brake Parent
March 26, 2013
Private equity firm Torque Capital Group has acquired Brake Parts Inc., the parent of Raybestos brand brake components.
Previous Raybestos owner Affinia Group Holdings spun off the brake component brand to a group of shareholders last ...
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