OTR tyre major Magna Tyres acquired a South African independent, multi-brand tyre dealer, Tirepoint, as part of its ‘Buy & Build’ strategy.

The transaction details have not been disclosed.

Founded in 2004 and operating in the Gauteng, KZN and Western Cape regions, Tirepoint has established itself as one of the largest tyre dealers and service providers in South Africa, said Magna in a statement.

Michael de Ruijter, President & CEO of Magna Tyres Grou, said, “We are excited to welcome Tirepoint to the Magna Tyres Group family. With their expertise and excellent longstanding reputation, as well as their ability to satisfy customers with tailormade solutions, Tirepoint is a valuable addition to our global network. It perfectly fits our joint belief of the Customer First mentality. With the addition of Tirepoint, our position as the largest second tier supplier of OTR tyres and service provider worldwide has been further strengthened. Moreover, it’s a giant step forward in our well-executed Buy & Build strategy. With this acquisition, The Magna Tyres Group employs over 700 dedicated employees across the globe. We are well ahead of our ultimate goal to surpass our turnover by € 600 million before 2026. Furthermore, it accelerates our growth on the African continent tremendously.” 

Andrew Cameron, CEO of Tirepoint South Africa “ As with everything, you need to remain relevant, flexible and able to adapt with the times. To this end, we are very excited about the transaction with Magna Tyres and the extra benefits that will become available for our customers. We believe there is good synergy, like-mindedness and an opportunity to grow the business to a new level. We are looking forward to this new chapter in Tirepoint’s life and being a part of Magna Tyres’ success!”

GRI, a global leader in speciality tyre manufacturing, has further strengthened its global presence by showcasing its state-of-the-art tyre technologies in three international exhibitions, namely Movimat in Brazil, EIMA in Italy and SEMA in the US, in the first week of November.

Apart from displaying its products and technologies, GRI also used these events to engage with industry leaders and establish new partnerships, thereby underscoring its commitment to innovation and sustainability and reinforcing its position as a global leader in the tyre industry.

The company showcased its solid forklift tyres, including the flagship ULTIMATE GREEN XT, at the 35th edition of Movimat in Brazil along with partner Rodafy. The event witnessed the Latin American attendees praising GRI's dedication to sustainability and its high-performance tyre solutions designed for a range of industrial applications.

At the EIMA 2024 event, GRI partnered with Italian distributor Magri Gomme to showcase its latest agriculture tyre advancements, highlighting the company’s focus on delivering innovative and sustainable solutions for the agriculture segment. European tyre dealers, farmers and industry professionals praised the exceptional performance and eco-friendly benefits of the GREEN XLR EARTH series that was on display.

The SEMA Show in Las Vegas saw GRI displaying its premium agriculture, material handling and construction tyre ranges. Additionally, the company also hosted a hospitality event for customers to further strengthen relationships and open new avenues in the North American market.

Apollo Tyres Ltd has signed a strategic memorandum of association (MoU) with Indian Institute of Management Mumbai (IIM Mumbai) to nurture the next generation of manufacturing leaders, in line with its Apollo 2.0 strategy to enhance efficiency and productivity across the organisation.

The MoU aims at equipping the company’s employees with the skills and expertise to thrive in a highly dynamic industrial landscape leveraging IIM Mumbai’s expertise of more than 60 years in specialised technical education. The institute is well-known for its proficiency in supply chain management, industrial engineering, lean manufacturing and cutting-edge technologies like artificial intelligence (AI) and machine learning (ML).

The company has also partnered with top companies like DuPont and Toyota, as well as the Tata Institute of Social Sciences (TISS) to create and introduce a Manufacturing Leadership Development Programme (MLDP). A skilled group of 15 people, carefully chosen from across the company’s production plants, make up the first batch of MLDP.

AB Svenskt Konstsilke (SKS), a Swedish global leader in single-end cords for tyres and MRG reinforcement, has acquired the assets from Mehler EP’s 153,500-square-foot Martinsville plant in SC, US.

The company anticipates increasing production capacity at its plants in China, Mexico and Estonia as a result of this acquisition, adding 3,000 tonnes of SEC capacity yearly. Several dipping lines, winders and twisting machines and a fully furnished laboratory are among the assets.

Urban Olsson, CEO, SKS, said, “This is a good step forward for SKS. By integrating these assets into our global operations, we’re not only increasing capacity but also improving flexibility and efficiency. It’s all about delivering the best solutions for our customers.”

The European Tyre and Rubber Manufacturers' Association (ETRMA) has released an official statement saying that it regrets the adoption of the amendments to the Proposal of the European Commission on the EU Deforestation Regulation by the Plenary of the European Parliament.

This brings a new phase of uncertainty when the industry actually needs predictability and action from the European Commission to bring further clarity and solve the remaining issues standing in the way of a full and fair implementation of the Regulation, says the association.

The association had already explained in its earlier statement that the whole natural rubber ecosystem needs certainty on the important issue, adding that the European tyre and rubber industry strongly favours the EUDR's objectives and is already working in the direction of ensuring sustainable sourcing of EUDR-compliant natural rubber.

The association had also emphasised that a fair and effective regulatory environment is the need of the hour reasserted that the tyre industry remains a key partner in the EU's broader environmental and deforestation mitigation efforts.