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Pirelli reports that the shareholder agreement between Camfin SpA and LongMarch Holding S.à.r.l. first signed on 13 May 2020 and modified on 30 June 2021 has been renewed for a further three-year period. The agreement thus remains in place until 13 May 2026.
On 28 February 2023, Pirelli shareholder Camfin SpA and its parent Marco Tronchetti Provera & C. SpA (MTP/Camfin) signed a shareholder agreement with Brembo SpA and Next Investment Srl, together with its parent NuovaFourB Srl (Brembo). The agreement covers Brembo’s commitment to align its vote with that of MTP/Camfin, following prior consultation, on matters included in the agenda at Pirelli’s ordinary or extraordinary shareholder meetings.
Hankook Tire & Technology has become a KRW 3 billion (£1.9 million) pre-Series A investor in South Korean used car e-commerce platform ‘Carmerce’. The tyre maker and start-up signed an investment contract at Hankook & Company’s headquarters on 28 February.
For its summer 2023 test, Auto Bild Sportscars lined up a baker’s dozen of size 225/40 R18 tyres and fitted them to a Toyota GR Yaris, a car that highlighted “both the sporting qualities and the weak points” of each and every candidate after “just a few bends” of track. When the dust & water spray had settled, five tyres proudly wore Auto Bild Sportscars’ top ‘exemplary’ rating.
Major German automotive components supplier Schaeffler Group, which like tyre and automotive systems firm Continental counts the Schaeffler family’s IHO Holding as a significant shareholder, is shunning investment at home and in Europe in favour of the USA. In addition to more advantageous energy prices, Schaeffler looks approvingly upon the USA’s more pragmatic approach to climate issues.
Nokian Tyres is renewing its winter tyre portfolio for Europe with the introduction of a new flagship range and updates for an existing product, extending the Nokian Snowproof family to four tyre models. The new flagship is Snowproof 2, and its arrival is accompanied by the European debut of SilentDrive technology.
Grupo Andrés, a leading tyre distributor in the Iberian Peninsula, has acquired a 20% stake in specialist financial management consultancy iFinanciera. Explaining the decision to invest, Javier Andrés Herrera states that involvement in iFinanciera is closely linked to the development and growth of Grupo Andrés’ own companies and provides important synergies.
Titan International, Inc. has reported record turnover and profitability during the 2022 financial year. While the US-based manufacturer of OTR tyres and wheels increased its net sales by 21.9% to US$2.2 billion, income from operations jumped by more than 141% to $205.8, almost doubling the return on sales to 9.5%.
The new, full-electric Smart #1 is the first Smart model developed by the joint venture between Mercedes-Benz and Chinese carmaker Geely. Launch photos released by Smart Europe last year let the Continental cat out of the tyre supply bag, and Continental has now confirmed worldwide supply for the SUV in 18” & 19” tyre sizes.
Balkrishna Industries Ltd. (BKT) has paid tribute to Dr Arup Saha Deuri, who was Head of Materials and Compound (R&D) at the company’s Bhuj plant and a renowned Indian rubber technologist. Dr Deuri passed away on 17 February 2023, at the age of 62, due to liver issues.
Sumitomo Rubber Industries, Ltd. joined the non-profit association GDSO (Global Data Service Organisation for Tyres and Automotive Components) in January 2023 and is now contributing towards industry-wide efforts to establish a means of and standard for identifying, managing and transferring data from individual tyres.
In its most recent quarterly report, US-based off-highway tyre manufacturer Titan International, Inc. reports owning 64.3% of Russian tyre maker Voltyre-Prom, with the Russian Direct Investment Fund the remaining shareholder. Yet this connection with Russia hasn’t stopped Titan raising its voice against indirect imports of Russian petroleum products into the USA. Together with the United Steelworkers union, Titan has even sent a letter to Joe Biden.
BMW Group has chosen Vredestein Ultrac for its all-new BMW X1 and will fit this tyre to the sports utility vehicle in size 205/65 R17 100Y XL. Apollo Tyres will ship the original equipment tyre, marked with BMW’s star symbol on the sidewall, from its plant in Gyöngyöshalász, Hungary directly to BMW’s production facility in Regensburg, Germany.
It’s hard not to love a superlative, so thanks to Sumitomo Rubber Industries for sharing that its tyre factory in Thailand now possesses the world’s largest rooftop solar panel array. As of 1 February 2023, the set-up at the Sumitomo Rubber (Thailand) plant is the world’s largest rooftop solar panel array installed at a single facility.
The number of electric and hybrid-electric cars on the road is growing, and Tecalemit has introduced a lifting solution that addresses this change in the vehicle parc. It says the two-post Azur SF/9235/EVR offers a “comprehensive range of features to meet the needs of modern workshops” and as such represents the “future of vehicle lifting solutions.”
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