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Since last year, the world’s major tire companies have continued to acquire, reorganize, and split their homes. Among the many asset changes, the majority are due to corporate strategic adjustments and take the initiative to attack the global tire industry, which has led to changes in the industry landscape and also indicates the rapid development of this industry. In particular, the performance of the Chinese enterprises is very eye-catching and has become a new force that the industry cannot ignore.
China's active performance eye-catching
Among these changes in capital, four are closely associated with Chinese companies and have a positive effect on the development of the Chinese tire industry, especially internationalization.
One is the sale of Kumho tires. Kumho Tire is a subsidiary of Kumho Asiana Group, one of the eight major Korean groups, and is the second largest tire company in Korea. In 2015, Kumho Tires ranked 13th among global tire companies, and sales revenue reached 22.28 billion yuan.
However, due to the reorganization of the Group's debt and the significant decline in sales volume in the Chinese market, losses began to occur. In January 2016, the creditor of Kumho Tire announced that it would sell 42.01% of the shares it owns, causing a great shock in the tire industry. More than 10 companies have expressed their intention to purchase a controlling stake in Kumho Tire.
On January 13, 2017, Double Star Group became the preferred bidder for the acquisition of 42.01% shares of Kumho Tires. The creditors will negotiate with Han Park Group Chairman Park Can-kwang within a month. If Asiana Group can give a higher purchase price than the preferred bidder, Hana Group will regain Kumho Tyre. Otherwise, Kumho Tire will fall into the hands of the Double Star Group.
The second is the reorganization of rubber assets after the acquisition of Pirelli by China National Chemical Corporation.
China National Chemical Corporation purchased Pirelli overall in October 2015, and its asset integration continued uninterrupted. In June 2016, Aeolus merged CSR Automotive and Qingdao Huanghai Rubber and reintegrated with Pirelli Heavy Duty Truck. On October 26, 2016, Aeolus Pirelli Industrial Tire Integration and Car Tire Joint Venture was established. The chairman of Aeolus shares Bai Yuping said that the collaboration between Aeolus and Pirelli, the reorganization of the car tire and industrial tire business of China National Chemical Rubber Co., Ltd., has had a positive impact in the international high-end manufacturing industry, and adjusted the structure and high-end manufacturing of the Chinese manufacturing industry. The use of internationalization to achieve technological innovation and brand improvement has implications.
Third, Shandong Hengfeng won De Rui Bao.
In 2015, Shandong Hengfeng Rubber & Plastic Co., Ltd., which purchased Watson Tire, succeeded in fierce competition on November 25, 2016, and succeeded in taking Derribao Tire Co., Ltd. and Shandong Yilong Rubber Tire for 891 million yuan. Some of the company’s assets have become China’s largest manufacturer of all-steel tires, and its ranking in China's tire industry has also risen to second place.
Fourth, solid platinum tires merged with Qingdao Gelida.
After Cooper Tire withdrew from Chengshan in 2015, its all-steel tires in China have become vacant. On December 1, 2016, Cooper Tire & Rubber announced that it had completed the acquisition of a 65% stake in Qingdao Gelidar Rubber Co., Ltd., which not only added another stronghold in China, but also helped to get rid of the single source of all-steel supply. At the same time, its global production base has also been increased to eight tire manufacturing plants.
Engineering tires tend to concentrate
Two acquisitions are asset changes in the field of engineering tires.
First, Yokohama Rubber bought out ATG tires in India. In April 2016, Yokohama Rubber Co., Ltd., the parent company of Yokohama Rubber Co., Ltd., acquired the entire share capital of Alliance Tire Group (ATG) for US$ 1.179 billion. Through this acquisition, Yokohama Rubber’s tire product camp has increased the use of tires for agricultural and forestry machinery, and the globalization process has further accelerated.
Second, Trelleborg took over CGS Holdings. In June 2016, the Swedish Trelleborg Group acquired CGS Holdings with 10.9 billion Swedish kronor (approximately RMB 7.97 billion) in cash. Mits, a CGS brand, is a global leader in the manufacture of agricultural tires and specialty tires. The total sales of the two companies together reached 30 billion Swedish kronor by the end of 2015. Through this acquisition, Trelleborg has established itself as a global leader in agricultural tires and has increased its influence in the field of tire manufacturing.
Special fetal field acquisitions are frequent
The other three acquisitions took place in the field of special tires.
First, Michelin bought Brazilian tire manufacturers. In August 2016, the Michelin Group acquired a Brazilian tire manufacturer for bicycles and motorcycles, which enhanced the production capacity of Michelin in South America and further extended its production line.
The second is the merger of the Continental Group tires. In November 2016, Continental acquired Toyota Racing Tire & Rubber Group for approximately EUR 126 million. Howe Tire is the world's largest manufacturer of racing tires. All of its tires are manufactured in the United States, producing more than 1,000 different types of tires.
The third is Yokohama Rubber's acquisition of Aichi Tyres.
Yokohama Rubber Co., Ltd. recently announced that it is acquiring Aichi Tire Industry Co., Ltd., a Japanese solid industrial tire manufacturer. It expects to strengthen its position in this product field after completion in March this year. It is reported that Aichi's tires are headquartered in Komaki-machi, Aichi Prefecture. It manufactures solid press-fit tires for industrial machinery (including forklift trucks) at its factories in Komakicho and Kasugai. Its customers are mainly Japanese industrial machinery manufacturers.
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