ERJ Top-10 stories: M&A

This year was marked by significant restructuring moves across the global tire & rubber industry, including significant M&A activity.

ERJ’s list of the 10 most viewed merger & acquisition stories in 2025:

1. Goodyear divested Dunlop brand (ERJ report), OTR (ERJ report) and chemicals business (ERJ report) during 2025 as part of its broader earnings improvement strategy Goodyer Forward.

2. Hexpol in €50m deal to acquire majority stake in Turkish compounder
Hexpol AB is acquiring an 80% stake in Turkish cable compounder Kabkom Kimya Sanayi ve Ticaret Anonim Sirketi (Kabkom) for €54 million. (Read more)

3. Elkem in “exclusive sales process” to divest silicones division
Elkem ASA has entered an “exclusive sales process” with an undisclosed counterparty to divest its silicones business, as signalled earlier in January. (Read more)

4. Conti confirms ContiTech divestment plan, adjusts sales outlook 
Continental AG has confirmed plans to divest its materials and industrial arm ContiTech AG next year, as part of a move to become “a pure-play tire manufacturer.” (Read more)

5. Bridgestone has sold its Thai carbon black business to Tokai Carbon (ERJ report) and its carbon black operations in Mexico to Cabon (ERJ report) as part of a move to streamline its carbon black operations

6. Toyo Tire selling majority stake in Chinese manufacturing subsidiary 
Toyo Tire Corp.’s board of directors has agreed to transfer an 86% equity interests in its tire manufacturing subsidiary in China to Liaoning Hengdasheng Investment (LHI), a Shenyang City-based investment group. (Read more)

7. Hyosung confirms Bain Capital as preferred bidder for steel tire cord unit
Hyosung Advanced Materials Corp. (HAMC) has confirmed Bain Capital Private Equity (Asia) LLC as the preferred bidder for its steel tire cord business, for the possible KRW 1.5 trillion (€1.0 billion) deal. (Read more)

8. Italian rubber parts makers Argomm and Gapi announce merger 
Italian rubber parts makers and sealing solutions specialists Argomm Group and Gapi Group have announced a merger plan to strengthen market position and international competitiveness. (Read more)

9. CSRC to close one China carbon black plant, divests another 
International CSRC Investment Holdings, the Taiwanese parent group of Continental Carbon, is scaling back its footprint in China with the closure of one plant and the divestment of another. (Read more)

10. Shibaura acquiring majority share in LWB Steinl
Japanese machinery maker Shibaura Machine has signed an MoU to acquire 80% of the shares in German injection moulding machinery producer LWB Steinl GmbH. (Read more)

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