Hankook Tire Co. Ltd. focused on smart mobility tire concepts and electric vehicle technology at its annual Design Insight Forum at the Hankook Technodome.
Round one of the most recent court battle between Apollo Tyres Ltd. and Cooper Tire and Rubber Co. goes to... Apollo.
On Friday, Nov. 8, 2013, Judge Sam Glasscock III, vice chancellor of the Delaware Court of Chancery, ruled that Apollo was not in breach of its merger agreement with Cooper, which had filed a complaint to the contrary.
In addition, the court found that Apollo had used "reasonable best efforts" to negotiate with the United Steelworkers (USW), and that "nothing in Apollo’s conduct indicates buyer’s remorse." As you might expect, Apollo is pleased with the ruling.
"Apollo continues to believe in the merits of the combination and is committed to finding a sensible way forward,” said the company.
Cooper Tire, on the other hand, says it is disappointed with the decision. It is assessing its options with respect to this decision, and awaiting the court’s ruling on other open matters in this case.
On Oct. 9, 2013, the Delaware Chancery Court had ruled in favor of Cooper, determining that the company's request for an expedited hearing of its October 4 complaint against Apollo was not frivilous.
For more information on the merger agreement and the lawsuit, check out these links:
Greenball Corp. has released new sizes for its Kanati Mud Hog M/T and Trail Hog A/T lines.
“Consistent. Stable. Dependable.” Those three little words detail the outlook and plan for Kumho Tire USA Inc. in 2017, says Jim Mayfield, national vice president of sales and marketing.
Yokohama Rubber Co. Ltd. recently opened a new plant in the Clark Freeport Zone in the Philippines. The plant is operated by the company’s passenger car tire manufacturing and sales subsidiary, Yokohama Tire Philippines Inc. (YTPI).
Sears Holdings Corp. has extended its DieHard brand to a vehicle maintenance and vehicle assessment service.
Several TBC Corp. technicians have received 2016 ASE Technician of the Year honors.
Centric Parts has opened its Commercial Center of Excellence (CCE) in Memphis, Tenn. The CCE houses sales and support staff for the company’s Qualis division.
Federal-Mogul Motorparts, a division of Federal-Mogul Holdings Corp., has acquired the Beck/Arnley brand.
The Tire Industry Association (TIA) and Federated Insurance are providing TIA members with a free webinar that focuses on the hidden dangers of outdated policies and insufficient documentation of actions employers take related to their employees.
Hankook Tire Co. Ltd. and its holding company Hankook Tire Worldwide are placing 19 employees in new executive roles effective Jan. 1, 2017, as part of efforts to increase competitiveness in the global top-tier tire market.
Toyo Tire North America Manufacturing Inc. has won the Georgia Department of Economic Development's inaugural Automotive Supplier of the Year Award. The Georgia Automotive Awards recognize leaders throughout the state and honor them as part of the state's automotive ecosystem.
Robert Bosch LLC’s “Rain, Snow or Shine” beam wiper blade promotion includes both a rebate premium offer with purchase, as well as a sweepstakes with no purchase necessary to enter.
Pirelli Tire LLC is recalling 1,190 P Zero All Season tires that were built with an incorrect carcass component.
The newest member of the Aftermarket Auto Parts Alliance (Alliance) is Parts Pro Automotive Warehouse of Wickliffe, Ohio. Parts Pro joined the Alliance as a Bumper to Bumper affiliate on Dec. 1, 2016.
Bartec USA LLC’s new Tech200Pro diagnostic tool incorporates TPMS sensor testing and activation, tread depth measurement and tire pressure checks.