In a blink of an eye, it has been halfway through 2018. Looking back at the first half of the year, the size and mergers and acquisitions of the tire industry have continued. Among them, some unexpected incidents were unexpected, and some mergers and acquisitions turned around and turned around, causing hot debates in the industry. 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 four major “cold†incidents in the tire industry in the first half of 2018. I. 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 Longyue Tire is a well-known large tire manufacturer in Shandong Province. The company's official website shows that its designed 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. Huadong Rubber's Yuhua tires have a larger capacity 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 National Development and Reform Commission for overseas investment, nor has it been approved, inspected and filed by 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 of China National Chemical Corporation, Fengshen had no suspense in the acquisition of PTG. As a result, this incident actually stuck in the government filing, which made people stunned. Third, Double Star won the 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 ultimate purchaser of Kumho Tire. The end result of not guessing is: Qingdao Double Star finally canceled the acquisition. However, this case, which was supposed to be settled in dust, reappeared in the first half of 2018. On April 10, Double Star Group and its subsidiary Xingwei Korea Co., Ltd., together with Kumho Tire Co., Ltd. and Kumho Tire Creditors represented Korea Industrial Bank (KDB), signed the “Share Subscription Agreement†and the “Shareholders Agreementâ€. This means that Double Star acquired a 45% stake in Kumho Tire and became the controlling shareholder of Kumho Tire. A compelling cross-border merger and acquisition case has ended in this regard. Fourth, Bridgestone hand in 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 a 50% stake. The establishment of this joint venture company has been approved by all regulatory agencies. According to the plan, TireHub started 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 joint venture between the two giants has 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.
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