Yokohama in talks to acquire Prometeon

Tire Business reports that Yokohama Rubber is in advanced talks to acquire Prometeon Tire Group, the former industrial tires unit of Pirelli.

In a written statement to ERJ, a source close to PTG minority shareholder Aeolus Tyres said negotiations were ongoing on the subject – without elaborating further. “YRC have signed a ‘no shop’ [exclusivity] contract with PTG and are now conducting a thorough due diligence,” said another contact, adding that the deal was in a ” fairly advanced” stage.