Deals will alter listings next year
|Date Published||September 5, 2005|
No big merger or acquisition affected the 2004 global tire rankings, but two deals-one completed, one pending-will cause changes next year.
Russia's Amtel Holdings has acquired Vredestein N.V's tire business for $256 million.
That deal will create a company with annual sales of more than $700 million, pushing the holding company toward the 15th spot in the ranking.
Goodyear's decision to sell its North American agricultural tire business to Titan International Inc.-if concluded-would double Titan's tire-related sales revenue to more than $400 million.
That would boost the Quincy, Ill.-based farm, forestry and heavy industrial tire maker into the Top 25 tire makers.
In addition, Michelin has an offer pending to buy into Egypt's Trenco.