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Yokohama Off-Highway Tires

Yokohama Off-Highway Tires (formerly Alliance Tire Company (Pvt.) Ltd.) is a tire manufacturing company based in Mumbai, India producing and marketing tires for agricultural, multi-purpose and industrial clients in Europe, the USA, Japan, and Latin America. It has three manufacturing plants in Hadera (Israel); Tirunelvelli and Dahej (India) and it is owned by Yokohama Rubber Company since 2016.

Yokohama Off-Highway Tires

Yokohama Off-Highway Tires
Company typePrivate company
IndustryManufacturing company
Founded1950; 74 years ago (1950)
Headquarters
Mumbai
,
India
Area served
Europe, USA, Japan, and Latin America
ParentYokohama Rubber Company
Websiteyokohama-oht.com/usa/

History edit

Only two years after the creation of the State of Israel in 1948 wave of aliyah immigration drove the government to encourage new industries.[1] In 1950, a tire manufacturer plant named Samson was founded in Petah Tikva by General Tire and Rubber Company. A few executives from the Solel Boneh company decided to open a competing company and later that year, with know-how from the "Dayton Tire and Rubber Company" (since bought by Bridgestone), Alliance was founded. Dayton was owned by A. L. Friedlander, for which the street the company is located on has been named. Friedlander, a Jewish zionist was excited about the venture and managed to raise funds from fifteen other enthusiastic American Jews who would share a 49% stake. In 1971, Alliance acquired Samson.[citation needed]

Alliance originally produced pneumatic tires for cars but in the 1960s, it started offering tractor tires, an area that would become its expertise. During the Cold War, the company exported to the Eastern Bloc indirectly through Cuba. In 1983, Koor became the major shareholder of Alliance. From 1988 to 1992, the company operated under the Official Receiver of the State of Israel, under a program similar to Chapter 11 in the United States. The recovery plan succeeded and the company returned to profitability in 1990. In 1992, Alliance's assets and operations were sold to new owners, "Fishman Holding" of Israel, and U. Zucker and Bear Stearns of the U.S. and in 1993, Alliance went public on the Tel Aviv Stock Exchange floating 10%.[citation needed]

In July 2007, Alliance was fully acquired by Warburg Pincus, a global private equity firm and the Mahansaria family for about $48 million plus Alliance's debt of $100 million.[2][3]

At its peak, Alliance employed about 1500 people. Notwithstanding the success and growth, technological advancements allowed the company to become more efficient. As of 2006, Alliance employs over 950 people and has revenue of over US$163 Million (78.5% export and 21.5% local.[4]

In 2007, the Mahansaria family with the support of Warburg Pincus acquired Alliance Tires Company of Israel which owned the brand 'Alliance' to form Alliance Tire Group.

In 2009, the Mahansaria family acquired GPX which is an American company and owns the brand Galaxy for $54 million. Alliance Tire Group has three brands - Alliance, Galaxy and Primex.

In April 2013, KKR bought out stake held by Warburg Pincus.[5]

ATG was acquired by the Japanese Yokohama Rubber Company in July 2016. The current Chairman of the company is Atao Kishi and the CEO is Nitin Mantri.[6][7]

Locations:

  • Israel
  • China
  • Europe
  • India
  • South Africa
  • United States
  • Latin America
  • South America
  • Mexico

References edit

  1. ^ Leitner-Bar-Tal, Iris (29 September 2006). ""Tires Wrapping the World" (Hebrew)" (Document). Makor Rishon. p. 4.
  2. ^ "Forbes India Magazine - Yogesh Mahansaria's Second Coming with Alliance Tires". forbesindia.com. Retrieved 8 December 2015.
  3. ^ "Warburg Pincus and Mahansarias complete buy-out" (Press release). Business Standard. February 2013. Retrieved 18 October 2007.
  4. ^ "Company website profile". Alliance Tire Company. Retrieved 18 October 2007.
  5. ^ "KKR acquires Alliance Tire". Business Standard India. 13 April 2013. Retrieved 8 December 2015.
  6. ^ "Yokohama Rubber Co to buy Alliance Tire Group for $1.2 billion". The Economic Times.
  7. ^ "ATG hires Cummins exec as CEO". Tire Business. 1 May 2017.

Bibliography edit

  • Yogesh Mahansaria's Second Coming With Alliance Tires | Forbes India
  • The Wheel Of Fortune: Yogesh Mahansaria's Nurturing Has Taken Alliance Tire Places | Forbes India

External links edit

  • Official website

yokohama, highway, tires, this, article, needs, updated, reason, given, recent, name, change, company, integration, please, help, update, this, article, reflect, recent, events, newly, available, information, january, 2023, formerly, alliance, tire, company, t. This article needs to be updated The reason given is Recent name change company integration Please help update this article to reflect recent events or newly available information January 2023 Yokohama Off Highway Tires formerly Alliance Tire Company Pvt Ltd is a tire manufacturing company based in Mumbai India producing and marketing tires for agricultural multi purpose and industrial clients in Europe the USA Japan and Latin America It has three manufacturing plants in Hadera Israel Tirunelvelli and Dahej India and it is owned by Yokohama Rubber Company since 2016 Yokohama Off Highway Tires Yokohama Off Highway TiresCompany typePrivate companyIndustryManufacturing companyFounded1950 74 years ago 1950 HeadquartersMumbai IndiaArea servedEurope USA Japan and Latin AmericaParentYokohama Rubber CompanyWebsiteyokohama oht wbr com wbr usa wbr Contents 1 History 2 References 3 Bibliography 4 External linksHistory editOnly two years after the creation of the State of Israel in 1948 wave of aliyah immigration drove the government to encourage new industries 1 In 1950 a tire manufacturer plant named Samson was founded in Petah Tikva by General Tire and Rubber Company A few executives from the Solel Boneh company decided to open a competing company and later that year with know how from the Dayton Tire and Rubber Company since bought by Bridgestone Alliance was founded Dayton was owned by A L Friedlander for which the street the company is located on has been named Friedlander a Jewish zionist was excited about the venture and managed to raise funds from fifteen other enthusiastic American Jews who would share a 49 stake In 1971 Alliance acquired Samson citation needed Alliance originally produced pneumatic tires for cars but in the 1960s it started offering tractor tires an area that would become its expertise During the Cold War the company exported to the Eastern Bloc indirectly through Cuba In 1983 Koor became the major shareholder of Alliance From 1988 to 1992 the company operated under the Official Receiver of the State of Israel under a program similar to Chapter 11 in the United States The recovery plan succeeded and the company returned to profitability in 1990 In 1992 Alliance s assets and operations were sold to new owners Fishman Holding of Israel and U Zucker and Bear Stearns of the U S and in 1993 Alliance went public on the Tel Aviv Stock Exchange floating 10 citation needed In July 2007 Alliance was fully acquired by Warburg Pincus a global private equity firm and the Mahansaria family for about 48 million plus Alliance s debt of 100 million 2 3 At its peak Alliance employed about 1500 people Notwithstanding the success and growth technological advancements allowed the company to become more efficient As of 2006 Alliance employs over 950 people and has revenue of over US 163 Million 78 5 export and 21 5 local 4 In 2007 the Mahansaria family with the support of Warburg Pincus acquired Alliance Tires Company of Israel which owned the brand Alliance to form Alliance Tire Group In 2009 the Mahansaria family acquired GPX which is an American company and owns the brand Galaxy for 54 million Alliance Tire Group has three brands Alliance Galaxy and Primex In April 2013 KKR bought out stake held by Warburg Pincus 5 ATG was acquired by the Japanese Yokohama Rubber Company in July 2016 The current Chairman of the company is Atao Kishi and the CEO is Nitin Mantri 6 7 Locations Israel China Europe India South Africa United States Latin America South America MexicoReferences edit Leitner Bar Tal Iris 29 September 2006 Tires Wrapping the World Hebrew Document Makor Rishon p 4 Forbes India Magazine Yogesh Mahansaria s Second Coming with Alliance Tires forbesindia com Retrieved 8 December 2015 Warburg Pincus and Mahansarias complete buy out Press release Business Standard February 2013 Retrieved 18 October 2007 Company website profile Alliance Tire Company Retrieved 18 October 2007 KKR acquires Alliance Tire Business Standard India 13 April 2013 Retrieved 8 December 2015 Yokohama Rubber Co to buy Alliance Tire Group for 1 2 billion The Economic Times ATG hires Cummins exec as CEO Tire Business 1 May 2017 Bibliography editYogesh Mahansaria s Second Coming With Alliance Tires Forbes India The Wheel Of Fortune Yogesh Mahansaria s Nurturing Has Taken Alliance Tire Places Forbes IndiaExternal links editOfficial website Retrieved from https en wikipedia org w index php title Yokohama Off Highway Tires amp oldid 1191878725, wikipedia, wiki, book, books, library,

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