In a blink of an eye, it has been halfway through 2018.
Looking back at the first half of the year, the large and small mergers and acquisitions in the tire industry continued to occur. Among them, some unexpected incidents were unexpected, and some mergers and acquisitions turned around, causing a wave of twists and turns.
Through comprehensive consideration of the suddenness of these events, the intensity of communication, and the degree of influence of the industry, Tire World Network summarized the four major 'cold' events in the tire industry in the first half of 2018.
First, Huadong Rubber acquired Longyue Tire
On May 13th, Tire World Network received news that a major merger and acquisition case occurred in the Shandong tire industry.
This time, Shandong Weifang Huadong Rubber Co., Ltd. acquired Longyue Tire from Cao County, Heze City.
It is understood that Long Yue tire is a well-known large tire production enterprise in Shandong Province.
The company's official website shows that its annual production capacity is 30 million semi-steel radial tires.
At the same time, the annual production capacity of Huadong Rubber is 1.8 million all-steel radial tires. The Huanhua tires of Huadong Rubber are larger than Huadong Rubber.
Some insiders believe that after this 'merger', Shandong will rise to a new tire leading enterprise.
Second, Fengshen acquired Pirelli industrial tires blocked
In the beginning of 2018, Fengshen tires broke out with a big upset and the acquisition of PTG (Pirelli Industrial Tire) was terminated.
It is understood that this transaction has not been approved by the Ministry of Commerce, the NDRC's overseas investment, and has not obtained the approval, inspection and filing of the relevant government agencies required for the transaction.
This means that the acquisition of Pirelli Industrial Tires by Fengshen Tire cannot continue and be implemented according to the original plan.
Originally, people in the tire industry thought that as a continuation of the major mergers and acquisitions case of China National Chemical Corporation, Fengshen had no suspense in the acquisition of PTG. As a result, this incident was actually stuck in the government filing, which made people stunned.
Third, Double Star wins Kumho Tire
For Qingdao Double Star to acquire Kumho Tire, one comment is: Many tires did not guess the beginning, nor did they guess the ending.
The beginning of no guess is: Qingdao Double Star can become the final purchaser of Kumho Tire.
The final result of not guessing is: Qingdao Double Star finally canceled the acquisition.
However, this case, which was originally thought to have settled in dust, reappeared in the first half of 2018.
On April 10, Double Star Group and its subsidiary Xingwei Korea Co., Ltd., and Kumho Tire Co., Ltd. and Kumho Tire Creditors represented the Korea Industrial Bank (KDB), signed the “Share Subscription Agreement” and the “Shareholders Agreement”.
This means that Double Star has a 45% stake in Kumho Tire and is the controlling shareholder of Kumho Tire.
A compelling cross-border M&A case, this is the end.
Fourth, Bridgestone holds Goodyear
On April 16, Goodyear and Bridgestone decided to merge the US tire distribution business and set up a new company.
The new company's name is TireHub, and the two tire manufacturers each hold 50% of the shares.
The establishment of this joint venture company has been approved by all regulatory agencies.
According to the plan, TireHub began operations in the first week of July and is expected to become the top national tire distributor in the United States.
Up to now, Bridgestone and Goodyear have successively canceled the contract with the original cooperative dealers and gradually merged the channels.
Some analysts believe that the tire distribution business in the US market is in the stage of integration. The two giant joint ventures have caused an uproar in the field of tire sales in North America.
Whether this mode of cooperation will extend to other regions remains to be seen.
