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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... read more
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 ... read more
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... read more
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... read more
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... read more
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. read more
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. read more
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... read more
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, ... read more
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... read more
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... read more
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... read more
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 &... read more
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. read more
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... read more
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. ... read more
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... read more
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.... read more
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... read more
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 ... read more
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