Park Closer to Reacquiring Kumho Tire
Park Sam-koo, chairman of Kumho Asiana Group, has secured financial investors to buy back Kumho Tire Co., according to The Korea Herald.
Report: China’s SAIC Tops Kumho Bids
A new player has reportedly joined the race to acquire the controlling stake in Kumho Tire, and could possibly be the strongest contender. The Chinese state-owned aerospace and automotive firm Shanghai Aerospace Industry Co. (SAIC) reportedly placed the highest bid to acquire 42% stake in Kumho Tire in late November, Korean media reports. The amount bid
Chinese Tiremakers Plan Future Growth in U.S.
These days Chinese biking lovers are overwhelmed by a newly launched foldable electric bike called the Uma Mini, produced by Hangzhou-based tech start-up Yunzao Technology. The company has sold more than 2 million Uma Minis since the product was launched on June 24. Similar enthusiasm is also given to the Ninebot electric self-balancing scooter by
View From Europe: China Tiremaker Consolidation Impacts World
[Editor’s Note: Europe’s Tyres & Accessories magazine has been closely following the shifts in China’s tire industry, and has reported extensively on how plant closures, business failures and consolidations are impacting tire markets in other parts of the world, including the U.S. This editorial appears in T&A’s current issue.] A couple of months ago we
Some Toyo Suit Targets Respond, Offer No Infringement Defense
Some of the Chinese tiremakers and American importers named by Toyo Tire Holdings of America in patent infringement actions reportedly claim American tire buyers will be ones hurt if the petitions are granted. On Aug. 14, Toyo filed a formal complaint against 22 tiremakers and tire importers, accusing them of violating the company’s U.S. design
Toyo Going After Knock-Off Producers, Sellers
Toyo Tire Holdings of Americas Inc. has filed a formal complaint against 22 tiremakers and tire importers, accusing them of violating the company’s U.S. design patent held on various passenger and light truck/SUV tires. The complaint was filed with the U.S. International Trade Commission, and states that the “Respondents have engaged in unfair trade practices
2012 GTE/SEMA Product Showcase
From A to V, here’s a look at some of the all-new products released at this year’s Global Tire Expo/SEMA Show.
Double Star Tires Now Available in Color
Doublestar Tire Corp. released its Color Tire, which the tire maker said comes in four colors – red, yellow, blue and green – and offers the same performance and treadwear as its regular black tires. Made through new manufacturing technology, Doublestar said its current passenger, truck and bus radials can be made in color based
Chinese Tiremakers Urged to ‘Accelerate Transformation’
[Editor’s Note: This story by Liang Rui appeared on the website China Economic Net on Sept. 20.] To change the low profitability of China’s domestic tire industry, enterprises need to improve core competitiveness, increase the technology content and added value of products, reinforce brand building, and make more consumers aware of the high cost-performance ratio
Hangzhou Zhongce is China’s Largest Tiremaker
Hangzhou Zhongce Rubber Co. (ZC Rubber) was China’s largest tiremaker in 2011, according to figures published by the China Rubber Industry Association (CRIA). The tire manufacturer, which produces the Westlake brand, amongst others, reports that ZC Rubber’s sales of $3.52 billion were up 29.2% over 2010 and were significantly higher than this ranking’s measurement of