{"id":818,"date":"2016-03-26T05:57:05","date_gmt":"2016-03-26T00:27:05","guid":{"rendered":"http:\/\/tyremarket.com\/tyremantra\/?p=818"},"modified":"2024-11-05T14:27:20","modified_gmt":"2024-11-05T08:57:20","slug":"news-2016-yokohama-rubber-acquires-alliance-tire-group-1179-mn","status":"publish","type":"post","link":"https:\/\/www.tyremarket.com\/tyremantra\/news-2016-yokohama-rubber-acquires-alliance-tire-group-1179-mn\/","title":{"rendered":"Yokohama Rubber Acquires Alliance Tire Group For $1,179-Mn"},"content":{"rendered":"

Tokyo-based prominent tyre manufacturing brand from Japan, Yokohama Rubber Company Limited<\/strong><\/a> is all set to takeover Alliance Tire Group (ATG), an off-highway-tyre maker for 1179 million USD. As per the agreement with global investment firm KKR and Mahansaria family, Yokohama buys-out 100% stake of the Netherland-based ATG. The statement issued by the Japanese company said that by July 1, 2016, after the completion of regulatory approvals and other essential closing procedures, the acquisition will reach its final stage. At present, Yokohama does not manufacture or sell tyres for agricultural or forestry machinery. Hence, with this acquisition, the Japanese tyre giant will witness a reasonable thrust in its commercial vehicles tyre business.<\/p>\n

Currently, KKR AT Dutch BV embraces an 87.48% shares in ATG BV, whereas Yogesh Agencies & Investments Private Ltd., holds 10.1% and the remaining stake is shared by Zubin Dubash and International Finance Corporation, 0.26% and 2.25% respectively.<\/p>\n

ATG brand<\/strong> radials and bias are sold in 120 countries across the globe, while the major chunk of these goods is delivered in the North American and European markets. The Hadera, Israel headquartered company has one manufacturing unit in Israel and two in India. The firm has an exceptional hold over the manufacturing and sale of tyres in the arena of agricultural, industrial, construction and forestry machinery. ATG enjoys an annual sale of 529 million USD together with a 95 million USD of operating profit.<\/p>\n

The agreement further disclosed that due to an increase in the use of agricultural machinery, the demand for agricultural equipment tyre has seen a surge, which is vital to advance the agricultural efficiency in order to overcome the rising food needs of the world’s ever increasing population.<\/p>\n

UPDATE:<\/strong> On 1st July 2016, Yokohama Rubber Company (YRC) officially announced the completion of the acquisition of Alliance Tire Group (ATG). And Mr. Toru Kobayashi, who served as an assistant to the YRC president Mr. Hikomitsu Noji was appointed as the chairman for ATG.<\/p>\n","protected":false},"excerpt":{"rendered":"

Tokyo-based prominent tyre manufacturing brand from Japan, Yokohama Rubber Company Limited is all set to takeover Alliance Tire Group (ATG), an off-highway-tyre maker for 1179…<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[4],"tags":[482,483,439,481,480],"class_list":["post-818","post","type-post","status-publish","format-standard","hentry","category-news","tag-alliance-tire-group-atg","tag-automobile-industry-news","tag-tyre-industry-news-2016","tag-yokohama-news-2016","tag-yokohama-rubber"],"yoast_head":"\r\nYokohama Rubber Acquires Alliance Tire Group<\/title>\r\n<meta name=\"description\" content=\"Yokohama Rubber Company Limited is all set to takeover Alliance Tire Group (ATG), an off-highway-tyre maker for 1179 million USD. 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