Alliance Tire Company Ltd.

The Alliance Tire Company Ltd. is a tire manufacturing company based in Hadera, Israel producing and marketing tires for agricultural, multi-purpose and industrial clients in Europe, the USA, Japan, and Latin America.

Only two years after the creation of the State of Israel in 1948, a large wave of aliyah immigration drove the government to encourage new industries. [Citation
last = Leitner-Bar-Tal | first = Iris
title = "Tires Wrapping the World" (Hebrew)
publisher = Makor Rishon
pages = 4
date = September 29 2006 ] 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.

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 11in the U.S. 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%.

In July 2007, Alliance was fully acquired by Warburg Pincus, a global private equity firm and the Mahansaria family. [cite press release
title = Warburg Pincus and Mahansarias complete buy-out
publisher =
date = July 2007
url = http://www.alliance.co.il/get_file.php?file_id=648
accessdate = 2007-10-18 ]

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. [cite web
title = Company website profile
publisher = Alliance Tire Company Ltd.
date =
url = http://www.alliance.co.il/eng/content.php?s_lan_id=1&s_category_id=1
accessdate = 2007-10-18 ]

References

External links

* [http://www.alliance.co.il/eng/index.php Alliance company homepage]