| || ||Thread Tools||Search this Thread|
|28th March 2016, 12:39||#1|
Join Date: Feb 2004
Thanked: 23,882 Times
Yokohama to buy Alliance Tire Group for Rs. 8,000 crore
Yokohama Rubber Co. is set to acquire Alliance Tire Group (ATG) for a sum of US $1.2 billion (approximately Rs. 8,000 crore). With this deal, the Japanese company plans to expand its commercial tyres business. At present, it does not manufacture or sell tyres for agricultural or forestry machinery.
ATG was founded in 2006 by Ashok Mahansaria and his son Yogesh, with financial backing from Warburg Pincus - a private equity firm. It is the world's fifth-largest manufacturer of off-highway tyres. Its products are used in the agricultural, forestry and construction sectors.
The company has three manufacturing facilities - two in India (Tirunelveli, Tamil Nadu and Dahej, Gujarat) and one in Israel (Hadera). In 2015, it recorded global sales of US $529 million (Rs. 3,527 crore) and posted a net profit of US $95 million (Rs. 634 crore).
KKR, another private equity firm, acquired Warburg's stake in the company in 2013 for US $500 million (Rs. 3,334 crore). At present, KKR holds 90% stake in ATG, while the Mahansarias hold 10%. Yokohama will buy out the stakes of both parties.
Source: Economic Times
|29th March 2016, 08:36||#2|
Join Date: Feb 2004
Thanked: 89,386 Times
Re: Yokohama to buy Alliance Tire Group for Rs. 8,000 crore
In effect, the Mahansarias built a billion dollar company in 10 years! Kudos. Sales of 3.5k crores with a profit of 600 crores is huge.
Here's a great Forbes India article for those who want to know more about Alliance Tire Group.
|Thread Tools||Search this Thread|
|Thread||Thread Starter||Forum||Replies||Last Post|
|Renault-Nissan to invest Rs. 5,000 crore in plant expansion. EDIT: Might be 500 crore||Aditya||The Indian Car Scene||6||7th September 2015 15:39|
|Honda builds 2 Crore Automobiles in the USA (1 Crore Accords)||sarathlal||The International Automotive Scene||3||22nd March 2014 02:38|
|Wagon R tire upgrade, inner tire wall touching suspension||Wind splitter||Tyre & Alloy wheel Section||36||6th August 2012 20:43|
|Use of Old car tire, Tire Art! Beautifully done, Must see.||SirAlec||Shifting gears||2||18th March 2011 22:02|