Yokohama Completes ATG Acquisition - Tire Review Magazine

Yokohama Completes ATG Acquisition

Yokohama Rubber Co. officially completed its $1.17 billion acquisition of Alliance Tire Group on July 1. Toru Kobayashi, former assistant to YRC president Hikomitsu Noji, has been appointed Alliance Tire Group chairman.

The acquisition will help Yokohama expand its commercial tire business and give the tiremaker access to ag and forestry tire manufacturing – two tire segments the tiremaker does not currently manufacture. The purchase of ATG will also increase Yokohama’s product offerings, the tiremaker said.

Yokohama said it will include ATG in its consolidated accounts from the third quarter of fiscal year 2016 (ending December 31, 2016) and the expected impact on the full-year consolidated financial statements will be announced soon.

The Japanese tiremaker first announced its plans to acquire ATG on March 25, 2016, after reaching an agreement with the global investment firm KKR and other concerned parties to purchase all of the shares of Alliance Tire Group.

In May, Yokohama received approval from the Competition Commission of India to acquire ATG – a relevant approval as both companies do business in India.

 

You May Also Like

Bridgestone Americas Releases 2022 DE&I Annual Report

The 2022 DE&I Annual Report outlines improvements Bridgestone has made in its three DE&I focus areas.

Bridgestone announced the release of its 2022 DE&I annual report. The report includes a detailed scorecard on its diversity representation across the US and Latin America along with a breakdown of its DE&I commitments, strategy and efforts in the last year.

“The release of our second DE&I Annual Report further solidifies our focus on empowering our teammates and the communities where we live, move, work and play,” said Ebonee Davis Ifeobu, vice president of diversity, equity and inclusion at Bridgestone Americas. “Last year, we made a commitment to build upon the DE&I framework already in place and doubled down on our efforts to listen, learn and evolve. While this is an ongoing and intentional journey, I’m proud of the strides we’ve made thus far.”

Autel Energy Showcases EV Charging Solutions, Electrified Bronco at CES

At CES, Autel Energy showcased its suite of EV charging solutions and an electrified 1969 Ford Bronco.

Autel-U.S.-Enters-EV-Charging-solutions-Industry
2019 Newsmakers: Bridgestone Americas

Nearly all products in the Firestone family of tires have been upgraded over the past three years, and Bridgestone is on track to have all of its consumer tire portfolio across both the Bridgestone and Firestone brands either upgraded or replaced by the end of 2020.

Bridgestone-Newsmakers-800x400
2019 Newsmakers: Nokian Tyres

Nokian Tyres opened its first U.S. manufacturing facility and launched numerous new products. See what’s in store for 2020.

Newsmakers-Nokian-800x400
2019 Newsmakers: Nexen Tire America

Nexen Tire opened its North American Technology Center and debuted the Roadian GTX. Find out what’s in store for 2020.

Nexen-Newsmakers-800x400

Other Posts

CEAT Receives Lighthouse Certification from World Economic Forum

The certification is given to manufacturers that use Industry 4.0 technologies.

CEAT-receives-Lighthouse-certification-
Nokian Tyres Holds Innovation Challenge Finals

Sustainability at the top of mind for Nokian Tyres during its innovation challenge.

Nokian-Tyres-1400
Apollo Tyres Receives ISO Certification for Sustainability

Apollo Tyres underwent a three-stage assessment for the certification.

apollo-chennai-india-plant-sustainability
Discount Tire Announces ‘Defending Daytona’

The series will highlight Austin Cindric, driver of the No. 2 Discount Tire Ford Mustang, as he prepares to defend his title at the Daytona 500.

Discount Tire Defending Daytona