M&A

Bridgestone to Acquire TomTom’s Digital Fleet Solutions Unit

Bridgestone Corp. (TYO:5108) plans to acquire TomTom Telematics BV, a subsidiary of TomTom NV of the Netherlands. The acquisition is expected to take place during the second quarter of the business year ending December 2019 for a purchase price of 910 million euros ($1.04 billion). TomTom Telematics operates a digital fleet solutions business that provides cloud-based services such as vehicle...

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Michelin Completes Acquisition of Camso for $1.36B

The Michelin Group announced on Dec. 18 that it has completed its acquisition of Camso Inc., a Canadian company engaged in the design, production and sales of off-the-road (OTR) mobility solutions. The final price of the acquisition came to $1.36 billion. Through this acquisition, French-based Michelin will become a global leader in the OTR market, tying together the abilities of...

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Toyoda Gosei Plans Chinese Acquisition to Bolster Business for Auto Parts

Toyoda Gosei Co. Ltd. (TYO:7282) has announced that it intends to invest in Hubei Rock Rubber and Seal Technology Co. Ltd., an independent weatherstrip supplier located in central China. The move represents an effort by Toyoda Gosei to bolster its Chinese business for auto parts. In carrying out the investment, Toyoda Gosei will use its Chinese regional headquarters to acquire...

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Bridgestone Turns UK Tire Company ETB Into Wholly Owned Subsidiary in New Acquisition

Bridgestone Corp. (TYO:5108) recently announced that it has acquired a 100 percent share in the ETB Group, which sells car tires and provides other automotive services across the southwest of the U.K. The share acquisition for this was completed by Bridgestone’s European arm on Sept. 6. The companies have not yet disclosed the amount paid. Looking toward a stronger European...

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Lanxess Agrees to Sell 50% Stake in Arlanxeo to JV Partner Saudi Aramco

Lanxess AG recently announced that it signed an agreement on Aug. 8 to sell its 50 percent stake in Arlanxeo, a manufacturer of synthetic rubber, to state-owned Saudi Arabian Oil Co. The German-based specialty chemicals manufacturer first established Arlanxeo in 2016 as a 50–50 joint venture with the Saudi firm, which is also known as Saudi Aramco. The sale is...

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Mitsubishi Chemical Set to Acquire PVC Compound Business From Welset Plast Extrusions

Mitsubishi Chemical Corp. announced on June 21 that it has reached an agreement with Welset Plast Extrusions Pvt. Ltd. of India to acquire the latter’s polyvinyl chloride (PVC) compound business. The business is to be handed over to Mitsubishi Chemical this autumn. With locations both in India and overseas, Welset conducts masterbatch operations – including those for PVC – in...

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