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Goodyear Tire & Rubber says its decision to modernise two tyre factories in Germany, and in doing so lay off around 1,100 workers, will cut the tyre maker’s costs by US$60 million to $70 million a year. Chief financial officer Darren Wells anticipates that Goodyear will feel the “full benefit” of these additional earnings by 2022.
Research carried out by Opinium on behalf of Kwik Fit suggests that more than 2.7 million UK drivers may have had a collision or veered off the road in the last two years because they were distracted by their mobile phone.
Michelin North America says that prices for selected Michelin and BFGoodrich passenger and light truck tyres will increase by up to five per cent from 1 September. Specific details haven’t been publicly announced – Michelin invites its customers to “discuss details concerning the price increase directly with account managers.”
In reporting its financial results for the second quarter and first half of 2019, Hankook Tire notes that the six months to 30 June were punctuated by uncertainty within the global tyre market. Challenges faced by many tyre makers include declining vehicle sales, anti-dumping duties and uncertainty caused by US-China trade tensions. Hankook specifically battled high fixed costs during a low demand cycle, a relatively high dependency on China for both production and sales, and issues with stabilisation at its 2017-opened plant in the USA.
The 2019 Pirelli UK Student Awards recently took place, recognising the hard work of talented individuals on their placement year.
In the preamble to its financial results for the first half of 2019, Pirelli notes that car production around the world was 6.7 per cent lower during the six-month period than in the first half of last year. It adds that lower vehicle production impacted the tyre market, with lower shipments to carmakers driving a 7.3 per cent contraction of the global tyre market in the first half of the year. Many tyre makers diverted production to the less profitable replacement segment, a move that affected their pricing.
A three-year extension to the Shareholders’ Agreement covering the governance of Pirelli & C. S.p.A was agreed upon yesterday. This extension will take effect from the publication date of the notice convening the Pirelli shareholders’ meeting for approving the company’s 2019 financial statements.
Sri Lanka-based manufacturer GRI Tires has laid the foundation for a new mixing plant. The facility, located some 25 miles from Colombo in the Mirigama Export Processing Zone (MEPZ), will initially give GRI the capacity to increase specialty tyre output by 100 tons a day. A further project phase will double capacity.
You have to get up early to fool a Tyrepress.com reader. A couple of weeks ago we asked who could correctly identify five winter tyres with remarkably similar tread patterns – and most respondents could.
Another blow on the automotive industry’s chin as we inch closer towards a no-deal Brexit. The Society of Motor Manufacturers and Traders (SMMT) has released its latest UK manufacturing figures, and they make a depressing read. British car manufacturing output fell by more than a fifth in the first half of 2019, while commercial vehicle production was down more than 16 per cent and engine production almost 11 per cent. KPMG considers these numbers “worrying.”
Prometeon Tyre Group UK Ltd has appointed Peter Fairlie its new managing director. He will be based at the company’s head office in Burton on Trent and will be responsible for Prometeon Tyre Group’s business in the UK, Ireland and the Nordic markets.
Linglong Tire will serve as the main sponsor to the China Pavilion at Expo 2020 Dubai. The tyre maker was awarded this status at a ceremony held yesterday in Beijing to mark the launch of China’s Expo engagement.
Yukio Hasegawa has been named the new president of Toyo Tire Corporation’s subsidiary in Russia, effective tomorrow. He succeeds Kenta Kuribayashi in this role. Kuribayashi remains chief executive officer of the Toyo Tire RUS LLC operation (and president of Toyo Tire Europe GmbH) and will additionally, as of tomorrow, become the Russian subsidiary’s chairman.
As of this month, 15 million tyres featuring ContiSeal self-sealing technology have been produced at the Continental factory in Lousado, Portugal. The 15 millionth tyre, a size 255/45 R 19 ContiSportContact 5 SUV destined for original equipment fitment on a Volkswagen, was produced on 23 July and gave cause for a minor celebration at the plant.
A first for Tyre Reviews with its ‘full video’ tyre test, and a first for Goodyear. The 2019 Tyre Reviews UHP Summer Tyre Test is a cracking good watch and makes a refreshing change from the standard, text-heavy test format. It features eight brands of performance rubber, including what the UK-based site calls the “holy trinity of UHP tyres” – the Michelin Pilot Sport 4 S, Continental SportContact 6 and Goodyear’s latest, the new Eagle F1 Supersport.
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