2024 is coming to an end, and in this year, the tire industry has ushered in an unprecedented wave of acquisitions. Many world-renowned tire manufacturers have expanded their business scope and enhanced their market competitiveness through acquisitions. These acquisitions not only involve traditional tire businesses, but also emerging markets such as off-road tires.
On the morning of December 18, 2024, the first phase of the production of Zhongce Rubber's new Indonesian tire manufacturing plant PT. Matahari Tire Indonesia (MTI), located in Kendal Industrial Park, Semarang City, Central Java Province, Indonesia, was grandly held.
On December 11, 2024, Michelin, a leading tire manufacturer and composites innovator, and Brembo, a leader in the design, development and production of braking solutions, have signed a global agreement to exploit the full potential of their intelligent solutions to revolutionize vehicle performance and provide drivers with the ultimate standards of safety and comfort.
Recently, Indian tire manufacturer Ceat Ltd announced that it has reached a final agreement with Michelin to acquire Michelin's Camso brand off-highway tires and tracks business in an all-cash transaction with a transaction value of approximately US$225 million.
Russia's Severgroup, owned by Russian billionaire Alexey Mordashov, has acquired Russian tire and auto parts manufacturer Cordiant Group from private equity investor S8 Capital.
Toyo Tire Corporation is restructuring its European operations by establishing a new sales headquarters, Toyo Tire Sales and Marketing Europe (TSE), in Serbia, beginning January 2025.
On November 25, Japanese tire manufacturer Bridgestone Corp. has announced a Yen27 billion investment plan to expand production capacity at its Hikone, Tosu, and Tochigi tire manufacturing facilities in Japan.
As one of the fastest growing regions in global tire imports in recent years, the Middle East has attracted widespread attention from the industry. Many tire companies have targeted this market and announced plans to invest in building factories.
In China's tire industry, cycle tires are a powerful presence that cannot be ignored. According to statistics, the number of electric two-wheelers in China reached nearly 400 million by 2023, and the annual compound growth rate of domestic electric two-wheelers sales reached 12.93%.