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National Tyre & Wheel Ltd. ( (AU:NTD) ) just unveiled an announcement.
NTAW Holdings Limited announced that it received termination notices for its Dunlop distribution agreements from Goodyear, following Goodyear’s agreement to sell Dunlop brand-related assets to Sumitomo Rubber Industries Limited. The termination is contingent upon the completion of the sale, which is pending regulatory approvals. NTAW plans to engage with both Goodyear and SRI to discuss the future distribution of Dunlop tyres and has an existing agreement with Goodyear to repurchase unsold Dunlop stock. This development could impact NTAW’s distribution operations and market strategy in Australia and New Zealand.
More about National Tyre & Wheel Ltd.
NTAW Holdings Limited, operating as the largest independent tyre and wheel distributor in Australia and New Zealand, specializes in the distribution of various tyre brands including Dunlop, Falken, Cooper, and Mickey Thompson. The company maintains strategic partnerships with major industry players such as Goodyear and Sumitomo Rubber Industries Limited (SRI), highlighting its significant market presence.
YTD Price Performance: -1.92%
Average Trading Volume: 115,638
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$41.09M
For an in-depth examination of NTD stock, go to TipRanks’ Stock Analysis page.