Yokohama Rubber Buys Alliance Tire Group
Japanese tiremaker Yokohama Rubber Co. has agreed to purchase the Alliance Tire Group BV from private equity firm KKR & Co. LP for $1.2 billion. The companies expect to finalize the sale by July 1.
Netherlands-based Alliance Tire is a maker of off-road tires for agricultural, construction and forestry vehicles, a market in which Yokohama has not participated. Last year ATG generated sales of $529 million.
ATG, which operates factories in Israel and India, also sells tires produced under contract from tiremakers in China and Taiwan. The company markets tires under the Alliance, Galaxy and Primex brands.
Dan Nicholson is vice president of General Motors Global Propulsion Systems, the organization that had been “GM Powertrain” for 24 years.
When Suzuki developed the GSX1300R, it set out to build the fastest mass-production motorcycle on the market. As competitors gained ground and stringent emission regulations were set, Suzuki set out to reinvent the bike.
Delegates to the United Auto Workers union’s annual convention in Detroit have overwhelmingly approved a 31% raise for their salaried international leaders.