Year in review: Global tire players transform footprint(Top 1)

Time: Dec 25th 2017   Copy editor: Tyrefull

2018 is comming soon. The global tire industry almost saw another big merger in 2017, but there was plenty of other activity keeping firms busy in the year. From new investments to new structures, here are four of the biggest events within the tire sector.

Doublestar tries to buy Kumho

It looked for a moment another big-time tire merger was about to happen. Doublestar Tire had agreed to acquire Kumho Tire Co. Inc. for about $830 million in March, but in September Kumho creditors rejected the deal after Doublestar allegedly asked for the price to be reduced by 16 percent amid disputes over trademark rights.The deal is on thin ice as both sides were unable to iron out differences with respects to the price cut. The move would have combined China-based Doublestar, the No. 23 tire company in the world according to latest Global Tire Report with 2016 sales of $1.06 billion, with South Korea's Kumho, No. 14 with $2.45 billion in sales.The combined firm would have been the 10th-largest tire company in the world and would give Doublestar a U.S. manufacturing base through Kumho's year-old plant in Macon, Ga.

Time will tell if the deal gets revived, but for now it looks as if the two companies will be going their separate ways.

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