Knoxville, Tennessee -- Solideal USA has acquired the assets of World Wide Wheel L.L.C. to bolster its US base.
Headquartered in Knoxville, World Wide Wheel will strengthen Solideal's presence in the wheel segment, the tire maker said. Financial details were not disclosed.
In conjunction with the purchase, Solideal said it will open a service center at the World Wide Wheel site to provide service for its local customer base.
Separately, the company has specifically denied that it is in take-over talks with Continental. There have been strong rumours in the solid wheel industry that Continental would like to acquire the Solideal business. In response to a question, a Solideal spokesman said, " The rumours in the market are false. Solideal reaffirms its independence for the foreseeable future. The Solideal group will continue to develop products, services, and its network to cater to end user and dealer needs for the next 25 years."
From Rubber & Plastics News (A Crain publication)