Friday, April 19

Tag: tyre

Goodyear acquire US Tyre Brand Cooper for $2.5 billion
22Feb By AdityaNo Comments
ACQUISITION

Goodyear acquire US Tyre Brand Cooper for $2.5 billion

AKRON, Ohio and FINDLAY, Ohio, Feb. 22, 2021: Goodyear will acquire Cooper in a transaction with a total enterprise value of approximately $2.5 billion. The transaction will expand Goodyear's product offering by combining two portfolios of complementary brands. It will also create a stronger U.S.-based manufacturer with increased presence in distribution and retail channels while combining both companies' strengths in the highly profitable light truck and SUV product segments. The combined company will have approximately $17.5 billion in 2019 sales. Under the terms of the transaction, Goodyear shareholders will own approximately 84% of the combined company, and Cooper shareholders will own approximately 16%. Founded in 1914, Cooper is the 5th-largest tire manufacturer in Nor...
Read More
JK Tyre Completes Rs 2,195 cr Acquisition of Cavendish
18Apr By PriyankaNo Comments
ACQUISITION

JK Tyre Completes Rs 2,195 cr Acquisition of Cavendish

JK Tyre & Industries has completed the Rs 2,195 crore acquisition of Cavendish Industries, a Kesoram Industries unit, enhancing its position in the domestic market, especially the truck and bus radial segment. "With the completion of the acquisition of Cavendish Industries we have further strengthened our position in the truck and bus radial segment. It has also given us entry into two and three wheeler vertical," JK Tyre & Industries Chairman and MD Raghupati Singhania told reporters here. The acquisition is in line with strategic vision of JK Tyre to become one of the leading tyre companies of the world having a well rounded portfolio of product offerings, he added. The acquisition brings an additional capacity of 100 lakh tyres to the JK Tyre, he added. Caven...
Read More