Skip to main content
EVENT TRACKER
Keep track of rescheduled, canceled industry events with our COVID-affected event tracker - Powered by Snap Finance
Close
Sister Publication Links
  • Rubber & Plastics News
  • European Rubber Journal
tb-logo
Subscribe
  • Login
  • Register
  • Subscribe
  • News
    • OPINION
    • CORONAVIRUS
    • AUTO INDUSTRY
    • BUSINESS/FINANCIAL
    • COMMERCIAL TIRE
    • FACTORY FIXES
    • GOVERNMENT & LAW
    • INTERNATIONAL
    • MOTOR SPORTS
    • NEW PRODUCTS
    • RETAIL TIRES
    • SERVICE ZONE
    • SEMA/AAPEX
    • SMALL BUSINESS
    • TIRE MAKERS
    • SPONSORED CONTENT
    • New round of Paycheck Protection Program funding opens
      Vaccine may usher sense of normalcy
      Cover-up: More retailers requiring face masks to curb COVID
      USW alleges COVID-19 violations at Kumho plant
    • GM banking on 'BrightDrop' EV to build commercial van business
      Stengel promoted to president of NAPA parent Genuine Parts Co.
      Former auto exec Tyrone Jordan joins Cooper board of directors
      Bridgestone crafts virtual city to showcase sustainable-mobility initiatives
    • New round of Paycheck Protection Program funding opens
      H&H broadens precure OTR business with Continuum mold acquisition
      Apollo to raise prices of Vredestein brand, effective March 1
      Taiwan tire makers propose settlement of import duties case
    • GM banking on 'BrightDrop' EV to build commercial van business
      Gary Price to head Love's Truck Care operations
      TA opens 6th Oregon location, bringing 50 jobs to area
      Love's opens Speedco shops in Ariz., Calif., Ga.
    • New round of Paycheck Protection Program funding opens
      Taiwan tire makers propose settlement of import duties case
      Wireless auto data debate continues
      World rubber demand in 2021 to recover to 2019 levels — IRSG
    • General Tire Canada renews sponsorship deal with Raceline Network
      GRI expanding ag tire capacity at 3-year-old Sri Lanka plant
      Point S Canada adds 61 stores to network in 2020
      New round of Paycheck Protection Program funding opens
    • General Tire Canada renews sponsorship deal with Raceline Network
      Indy Autonomous Challenge: High-speed, head-to-head, no drivers
      TGI secures Cosmo-brand naming rights at Fla. race track
      Firestone Grand Prix of St. Petersburg postponed until April
    • Kumho launches commercial LT, performance tire lines
      The new One: Nokian unveils all-season passenger tire
      Ford, Hyundai earn 2021 top North American vehicle honors
      BKT expanding its ATV/UTV lineup with Sierra Max Pro radials
    • WTC hosting webinar Jan. 20 on load-capacity standards
      Bauer Built completes expansion at Neb. facility
      Point S Canada adds 61 stores to network in 2020
      J.D. Power survey: Quick greeting key to customer satisfaction
    • Shocks/struts maker KYB unveils video training series
      Bauer Built completes expansion at Neb. facility
      Marinucci: Basic steps to email efficiency
      Point S Canada adds 61 stores to network in 2020
    • WTC hosting webinar Jan. 20 on load-capacity standards
      Denver's Brian Sump named AAPEX Shop Owner of the Year
      DUB, TIS Wheels founder Myles Kovacs is SEMA Person of the Year
      AAPEX: Using social media to promote your business
    • Vaccine may usher sense of normalcy
      2020 Review: PPP loans give boost to small businesses
      Latest COVID relief bill includes $325B in small-business support
      AAPEX: Do more cars in the shop mean more profit?
    • General Tire Canada renews sponsorship deal with Raceline Network
      Apollo to raise prices of Vredestein brand, effective March 1
      Taiwan tire makers propose settlement of import duties case
      Kumho launches commercial LT, performance tire lines
    • Sponsored By Yokohama Tire Company
      7 questions to ask consumers when they need tires for a crossover SUV
      Sponsored By Yokohama Tire Company
      Stocking Tires for Crossover SUVs
  • SHOP FLOOR
    • BALANCING
    • DEMOUNTING
    • SAFETY
    • TIRE REPAIR
    • TPMS
    • TRAINING
    • VEHICLE LIFTING
    • WHEEL TORQUE
    • Video: Balancing Tire
      Choosing the right balancing equipment
      Safety tips for wheel balancing
      An introduction to wheel balancing
    • Video: Demounting
      Demounting Equipment
      Making rims ready for a tight seal
      Tire changer types, tips and trends
    • Video: Safety
      Making friends with OSHA
      Ergonomics on the shop floor
      Customers
    • Video: Tire Repair
      Tire repair: Shining a light on visual inspections
      Staying safe when repairing a tire
      Essential tools, materials and equipment for tire repair
    • Video: TMPS Service
      Decoding sensor data for TPMS diagnosis
      Replacement TPMS sensor overview
      The life-saving work of TPMS
    • Video: Training
      Advantages of apprentice program partnerships
      Options and resources for CE tech training
      Internship ideas to attract tech talent
    • Video:Vehicle Lifting
      All types of lifts for all types of work
      Tips and recommendations for lifting safety
      The gravity of proper lift points
    • Video: Wheel Torque
      Using torque sticks to speed service times
      The danger of too much, too little torque
      The importance of torque specifications
  • Multimedia
    • VIDEOS
    • PHOTOS
    • PODCASTS
  • Events
    • ASK THE EXPERT
    • LIVESTREAMS
    • WEBINARS
    • SEMA LIVESTREAMS
  • Data
    • DATA STORE
  • Resources
    • DIRECTORY
    • CLASSIFIEDS
  • ADVERTISE
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. News
November 20, 2017 01:00 AM

Michelin selling its stake in Double Coin joint venture

Tire Business Staff
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    PARIS — Group Michelin is selling its 40-percent stake in the Double Coin (Anhui) Warrior Tire Co. Ltd. joint venture to affiliates of the venture's majority partner, Shanghai Huayi (Group) Co. Ltd., including Double Coin Tire Group Co. Ltd.

    The venture partners — which created the 60/40 venture in 2011 — did not disclose the value of the transaction. At the time of the venture's formation, Michelin's capital investment was valued at $104 million.

    For the record, Compagnie Financière Michelin and Michelin (China) Investment Co. Ltd. are transferring Michelin's ownership stake to Huayi Group (Hong Kong) Co. Ltd. (30 percent) and Double Coin Tire Group (10 percent).

    Double Coin (Anhui) Warrior Tire is a Wuwei, China-based company producing passenger and light truck tires under the Warrior and other brand names. The plant was built at a cost of nearly $550 million, with annual capacity of 15 million car and light truck tires.

    During the intervening six years, Michelin said it has "continuously supported the development, the quality management and the commercial performance of the [joint venture] to help the Warrior brand to improve competitiveness in the market."

    In a statement released by Michelin, the parties said: "In order to better focus on all parties' core strengths and to continue to strengthen their respective brands and to better focus on their respective strategy, all the parties have decided to make this equity transfer. All parties agree that the transaction is in their best interests and is beneficial to the sustainable growth of Michelin, Double Coin and Warrior."

    Michelin continues to operate in China through two other subsidiaries: Michelin Shen Yang Tire Co. Ltd. in Shenyang, Liaoning Province (producing consumer and commercial tires); and Shanghai Michelin Tire Co. Ltd. in Tsen Tai, Shanghai (producing consumer tires).

    Looking ahead, Michelin said it remains optimistic about China's long-term growth and is committed to the sustainable development of transportation in China.

    Double Coin's U.S. subsidiary China Manufacturers Alliance L.L.C. disclosed plans in 2013 to launch Warrior-brand passenger tire sales in North America, but the plans were scuppered a few months thereafter when the U.S. government voted to impose elevated import duties on Chinese passenger tires.

    Double Coin still maintains a website dedicated to the brand.

    Letter
    to the
    Editor

    Do you have an opinion about this story? Do you have some thoughts you'd like to share with our readers? Tire Business would love to hear from you. Email your letter to Editor Don Detore at [email protected].

    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Newsletter Center

    Staying current is easy with Tire Business delivered straight to your inbox.

    SUBSCRIBE TODAY

    Subscribe to Tire Business

    SUBSCRIBE
    Connect with Us
    • Facebook
    • LinkedIn
    • Twitter
    • RSS

    Our Mission

    Tire Business is an award-winning publication dedicated to providing the latest news, data and insights into the tire and automotive service industries.

    tb-logo
    Reader Services
    • Contact Us
    • About Us
    • Site Map
    • Industry Sites
    • Order Reprints
    • Customer Service: 877-320-1716
    Partner Sites
    • Rubber & Plastics News
    • European Rubber Journal
    • Automotive News
    • Plastics News
    • Plastics News China
    • Urethanes Technology
    RESOURCES
    • Advertise
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Media Guide
    • Editorial Calendar
    • Classified Rates
    • List Rental
    • Digital Edition
    • Careers
    • Ad Choices Ad Choices
    Copyright © 1996-2021. Crain Communications, Inc. All Rights Reserved.
    • News
      • OPINION
      • CORONAVIRUS
      • AUTO INDUSTRY
      • BUSINESS/FINANCIAL
      • COMMERCIAL TIRE
      • FACTORY FIXES
      • GOVERNMENT & LAW
      • INTERNATIONAL
      • MOTOR SPORTS
      • NEW PRODUCTS
      • RETAIL TIRES
      • SERVICE ZONE
      • SEMA/AAPEX
      • SMALL BUSINESS
      • TIRE MAKERS
      • SPONSORED CONTENT
    • SHOP FLOOR
      • BALANCING
      • DEMOUNTING
      • SAFETY
      • TIRE REPAIR
      • TPMS
      • TRAINING
      • VEHICLE LIFTING
      • WHEEL TORQUE
    • Multimedia
      • VIDEOS
      • PHOTOS
      • PODCASTS
    • Events
      • ASK THE EXPERT
      • LIVESTREAMS
      • WEBINARS
      • SEMA LIVESTREAMS
    • Data
      • DATA STORE
    • Resources
      • DIRECTORY
      • CLASSIFIEDS
    • ADVERTISE
    • DIGITAL EDITION