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Article: Top global tire makers dominate Latin America
- Article from:
- Tire Business
- Article date:
- September 14, 1998
- Author:
CopyrightCOPYRIGHT 1998 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Bruce Davis
CALI, Colombia - And then there were two.
Lima Caucho S.A. and Rinaldi S.A. are the only true independent tire companies left in South America, following Group Michelin's recent purchase of Icollantes S.A.
The $73 million acquisition of the Colombian tire maker means 90 percent of the continent's tire sales now are in the hands of four companies - Goodyear, Bridgestone/Firestone Inc., Pirelli Group and Group Michelin.
Michelin's deal in Colombia indirectly re-created Peru's Lima Caucho. Before the deal closed, Icollantes sold ownership of Lima Caucho back to Peruvian investors after having owned the company less than three years.
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