Goodyear and Bridgestone Announce Merger of US Tire Distribution Business

According to foreign media reports, on April 16, 2018, Goodyear and Bridgestone decided to merge the US tire distribution business and set up a new company. The new company's name is TireHub LLC, headquartered in Atlanta, United States. After the merger of the two businesses, the company has more than 80 tire sales stores in the country. Its fair value is set at about 600 million U.S. dollars (about 3.767 billion yuan). According to the plan, these two tire manufacturers each have a 50% stake in TireHub. The entire transaction is expected to complete all formalities by mid-2018.

Peter Gibbons Named Peter Gibbons Chief Executive Officer (CEO) of TireHub
Peter Gibbons Named Peter Gibbons Chief Executive Officer (CEO) of TireHub

Goodyear said that TireHub's start-up capital needs 40 million US dollars (approximately 251 million yuan), and they will share with Bridgestone.

Goodyear truck tires Goodyear truck tires

TJ Higgins, head of Bridgestone North America, said: “For American distributors and retailers, it is critical to provide customers with tires that are satisfactory on time.”

He believes that the establishment of TireHub can provide more tire choices for end customers.

According to Goodyear estimates, before 2020, TireHub’s annual operating income could increase by 80 million to 100 million US dollars (approximately 502 million to 62.28 million yuan).

Some analysts believe that the tire distribution business in the US market is in the integration stage. Not long ago, Michelin and Sumitomo Corporation jointly established NTW in order to achieve a win-win goal.

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