Connect with us

News

Aeolus to Buy ChemChina, Pirelli Truck Tire Business

Advertisement

After making an agreement earlier this month, Aeolus Tyre Co. plans to purchase China National Chemical Corp.’s (ChemChina) two truck and bus tire subsidiaries and a 10% stake in Pirelli Industrial, Pirelli’s commercial tire unit, according to Reuters.

Advertisement
Click Here to Read More
Advertisement

Aeolus will acquire the ChemChina tire businesses for an estimated $125.50 million and the Pirelli purchase will cost the company around $77.64 million.

The tiremaker also announced it will sell 80% stake of its passenger car tire unit to Pirelli for roughly $75 million.

Both Aeolus and Pirelli are majority owned by ChemChina.

Advertisement
Click to comment

Loading Post...

Loading Post...

Loading Post...

Advertisement

POPULAR POSTS

Buyer Beware? Chinese Tires Mean Different Quality Levels

News

Cooper Introduces CS5, Phases Out CS4

News

Michelin Rolls Out Premier LTX

Featured

Toyo’s Celsius Plans to One-up All-Season Tires

Connect