Autobacs Forms Credit Line for Acquisitions

(Akron/Tire Review) Japanese automotive parts and accessories retailer Autobacs Seven Co. has established a committed line of credit capped at $822.8 million, to finance the acquisition of competitors inside and outside Japan.

Published: June 1, 2007

An agreement for the five-year commitment line was signed with an investment firm in the U.K.

Autobacs will also soon set up a panel to discuss its planned acquisitions and include outside experts to obtain their advice. But the firm says it is "not yet at a point where the acquisition plans can be announced."

Autobacs said it intends to boost domestic sales, including those at its franchised stores, to approximately $3 billion by fiscal 2008 from the fiscal 2006 level of $2.5 billion.

In April, Autobacs reached an agreement to buy U.S. parts retailer Strauss Discount Auto out of bankruptcy for a price of up to $55 million.

Radar Tires signs multi-year contract with Singapore Golf Association

Omni United said this partnership with SGA is part of its commitment to nurturing upcoming talent in Singapore.

By Christian Hinton

Published: May 16, 2024

Omni United, under its flagship, Radar Tires brand, has signed a multi-year contract with the Singapore Golf Association (SGA). Under this partnership, touring professionals who have previously represented Singapore at an elite amateur level and recently turned professional will receive financial support for their training and competition-related expenses as they embark on the early stages of their professional careers, Omni United said.