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Hankook Tire was named a GM supplier of the year by General Motors during its 27th annual Supplier of the Year awards ceremony, which was held in Detroit, USA on 15 May. This is the third time Hankook Tire has received the award.
Plans for a new factory may be on hold, but Sentury Tire USA says demand for its tyre brands is growing – and this growth has necessitated the operation’s move to a larger headquarters and warehouse. The new corporate office and warehouse, twice the size of the former location, is located in Hialeah, Florida.
Despite trade disputes and tariffs, China remains interesting for tyre distributors and buyers around the world. Furthermore, China’s tyre market itself stands to benefit from future growth in the country’s automotive aftermarket. Although the 28 million new cars sold in China last year represented a three per cent decrease on 2017 sales figures, the number of vehicles requiring replacement tyres will continue on an upward trajectory over the coming years. Against this backdrop, the China International Tire Expo (CITExpo) positions itself as an ideal trade fair for international and domestic visitors alike.
A number of organisational changes are set to take place at Toyo Tire Corporation on 15 June. A new unit, the Corporate Strategy Division, will be created. Toyo says this division, which will report directly to president Takashi Shimizu, is being created to give the company greater flexibility to accomplish its growth strategy.
The top entries in the 2019 Michelin Challenge Design competition have been announced, and the winners include a submission from the UK.
British car manufacturing output -44.5 per cent in April, according to figures published by the Society of Motor Manufacturers and Traders (SMMT). Just 70,971 cars rolled off production lines during the month as factory shutdowns, rescheduled to mitigate against the expected uncertainty of a 29 March Brexit, took effect in many plants across the UK.
Collaborations with US-based shared mobility providers Borrow and Envoy are providing Goodyear Tire & Rubber the opportunity to pilot its predictive digital service solutions with electric vehicle fleets. Experience gained with the two companies allows Goodyear’s Innovation Lab in San Francisco to test solutions on new models of emerging mobility.
The USA has determined the rate of anti-dumping and countervailing duties it will charge on steel commercial vehicle wheels imported from China, and the levels set are high. This month, the US Department of Commerce announced final anti-dumping duties of 231.7 per cent and countervailing duties of 457.1 per cent.
Qingdao Doublestar Tire, owner of Kumho Tire since July 2018, has once again grown through an acquisition. The Chinese tyre maker says it has completed the purchase of Shandong Hengyu Technology Co., Ltd. for RMB 899 million (£103.1 million). Doublestar disclosed in March that it had signed an agreement with Hengyu Technology’s administrator to acquire 100 per cent equity in the business.
Operations have started at the recently-completed 3,500 square metre polyester line built at the Kordsa plant in Izmit, Turkey. Kordsa’s Tire Reinforcement business unit commenced work on the additional line in December 2017, and 100 million Turkish lira (£13.3 million) has been invested to provide an additional 7,000 tonnes of polyester yarn capacity. The project was carried out as part of plans announced in 2016 to invest $30 million in further capacity for Korda’s plants in Turkey and Indonesia.
Michelin has expanded its X Multi T2 commercial tyre range with the launch of four new 17.5-inch sizes for low platform trailers, such as step frames, car transporters and double-decks. The new sizes are 215/75 R17.5, 235/75 R17.5, 245/70 R17.5 and 205/65 R17.5.
Tyre wholesaler European FinTyre Distribution (EfTD), a Bain Capital company, reports a turnover of 1.1 billion euros for the 2018 financial year, a 46 per cent year-on-year increase. EBITDA reportedly rose 83 per cent year-on-year. This positive net cash flow helped finance its acquisition of RS Exclusiv, which was completed in May 2019 and increased the group’s turnover to approximately 1.2 billion euros. According to chief executive officer Mauro Pessi, the company anticipates a turnover of 1.3 billion euros this year.
East Lothian-based J Haig Hamilton & Sons is reaping the rewards after becoming the first farm in Scotland to fit the latest size in Michelin’s growing AxioBib 2 tyre range. Haig Hamilton invested in a new John Deere 8400 from dealer stock, but knew the 900mm width of the original equipment rear tyres wasn’t suitable for the root-crop farming operation on the more than 3,000 acres of land he oversees.
Hail, CESAR. A year after having the Conti360° fleet service administration tool integrated into its system landscape, European truck and trailer rental firm PEMA says it is delighted with the benefits it brings. The Continental-developed fleet administration system provides digitalised tyre management for the more than 18,000 commercial vehicles in the PEMA rental fleet, allowing vehicle- and service-relevant data to be continuously exchanged and updated via a user interface.
Kumho Tire has produced the world’s first 20-inch, 45 profile tyre for light commercial vehicles, and is supplying it as an original equipment fitment for the Hyundai H350 in global markets. Purchasers of the Hyundai van who select the Kumho tyre will receive the PorTran KC53 in size 245/45 R20 C 115/113R.
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