Airless Tire Company Making Name For Itself After Acquisition
Wisconsin-based Resilient Technologies has made a name for itself in recent years as a developer of non-pneumatic, airless tires. Minnesota-based Polaris Industries, known as a manufacturer of snowmobiles, all-terrain vehicles and motorcycles, purchased Resilient Technologies in April 2012. Upon acquiring Resilient Technologies, Polaris made the company a part of Polaris Defense, a division that manufactures
MRF Ltd. Eyes Acquisition, Partnerships and a New Plant
India’s MRF Ltd. is eyeing several acquisition opportunities but remains cautious over committing itself to inorganic expansion, chairman and managing director K.M. Mammen told The Times of India. Referencing the aborted deal of its biggest Indian rival Apollo Tyres, where its acquisition of Cooper Tire & Rubber Co. came undone, Mammen told the newspaper, “You
Driven Brands Inc. Acquisition Complements Brand Portfolio
Driven Brands Inc. announced the acquisition of Merlin 200,000 Miles, an automotive aftermarket franchise in St. Charles, Ill. Merlin operates primarily in the suburbs of Chicago. The aftermarket franchise adds 49 locations in four states to the Driven Brands portfolio. The acquisition will allow Driven Brands to expand its presence in an important market. Danny
Advance Auto Parts Closes Acquisition of General Parts International
Advance Auto Parts announced it has completed the acquisition of General Parts International. The transaction creates the largest automotive aftermarket parts provider in North America with annual sales of more than $9.3 billion and more than 70,000 team members. The combined financial profile allowed for an all-cash transaction and supports Advance Auto Part’s commitment
Titan International to Serve as Managing Partner in Voltyre-Prom Acquisition
Titan International, in partnership with One Equity Partners (OEP) and the Russian Direct Investment Fund (RDIF), has acquired the majority interest in Voltyre-Prom for approximately $94 million. Titan will act as the managing partner for the consortium. “We are excited to be part of a consortium with RDIF and OEP which allows us to enter
Apollo-Cooper Acquisition Still Moving Forward
Cooper Tire & Rubber Co. and Apollo Tyres are still pushing forward to close its acquisition deal by the end of 2013, despite recent setbacks. A recent ruling by an arbitrator that said Cooper can’t sell its unionized plants in Findlay, Ohio or Texarkana, Ark. appeared to be a roadblock. However, Anne Roman, vice president
Cooper Stockholders to Vote Sept. 30 on Acquisition
Cooper Tire & Rubber Company has filed a definitive proxy statement with the U.S. Securities and Exchange Commission and scheduled a special meeting of stockholders for Sept. 30 to consider and vote on the previously announced merger with a subsidiary of Apollo Tyres Ltd. Cooper stockholders, as of the close of business Aug. 30, are
JK Tyre Reconsiders Acquisitions
On May 28, JK Tyre & Industries poured water on news published by Indian financial daily The Financial Express, stating it had “no firm proposal” to acquire a tire manufacturer in Southeast Asia for Rs 1.5 billion (£15.7 million) and that it had “not made any commitment whatsoever” to this effect. Yet at the time
Strike Over Apollo Acquisition Persists at Cooper Chengshan
More than 5,000 workers at the Cooper Chengshan joint venture in China have continued their strike in protest against Apollo Tyres’ planned acquisition of Cooper.
Reports: Cooper JV Workers Strike Over Apollo Acquisition
Workers at Cooper Chengshan, a joint-venture between Cooper Tire & Rubber Co. and Chengshan Group (China), are reportedly on a strike in protest against Apollo’s proposed acquisition of Cooper.