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The first sizes in two Goodyear tyre lines for smaller trucks come to market this month. The Kmax S steer axle and Kmax D drive axle tyres are being rolled out in a total of 20 dimensions for 17.5-inch and 19.5-inch rim diameters, and Goodyear says the new products offer strong traction, excellent steering characteristics, high mileage and robustness.
Directors of The Goodyear Tire & Rubber Company have declared a quarterly dividend of US$0.14 per share of common stock. The dividend is payable 1 June 2018 to shareholders of record on 1 May 2018. The payout represents an annual rate of $0.56 per share.
Automotive parts manufacturer Federal-Mogul is changing hands for US$5.4 billion. The new owner is vehicle ride performance and clean air products manufacturer Tenneco Inc., which yesterday signed a definitive agreement to acquire the business from Icahn Enterprises L.P. The acquisition is to be funded through cash, Tenneco equity and assumption of debt and is expected to close in the second half of 2018, subject to regulatory and shareholder approvals and other customary closing conditions.
A new tyre line has joined the Hankook range of bus tyres. The SmartCity AU04+ is designed for year-round urban use – it is 3PMSF and M+S marked – and is available in size 275/70R22.5.
A court in the US state of Arizona ruled on 3 April that Goodyear Tire & rubber cannot continue to keep court documents relating to an alleged defect in a Goodyear tyre secret. The ruling from the Superior Court of Arizona, Maricopa County, comes in the Haeger v. The Goodyear Tire & Rubber Company personal injury case and follows a motion from non-profit organisation the Center for Auto Safety (CAS) to unseal court records and remove a protective order.
The CST brand is perhaps best-known in the UK for its presence in the ATV market, with its tyres distributed by one-stop motorcycle parts and accessories shop Bickers. The Cheng Shin Group has announced it is to diversify its CST range in Europe with the addition of passenger car, van and 4×4 tyres to its expanding portfolio.
On 19 March 2018, Michelin announced it had reached an agreement on the terms of its acquisition of Fenner plc, specifically a recommended cash acquisition of Fenner’s entire issued and to be issued share capital. The plan is for the acquisition to be implemented by means of a court-sanctioned scheme of arrangement.
The Goodyear Tire & Rubber Company announced the re-election of 12 members of its Board of Directors to new one-year terms at the company’s annual shareholder meeting yesterday. In addition, shareholders voted in favour of an advisory resolution approving the compensation of its named executive officers and voted to ratify the appointment of PricewaterhouseCoopers LLP as the company’s independent registered public accounting firm for 2018.
Westlake tyre has struck a sponsorship deal with Major League Baseball’s San Diego Padres for the 2018 and 2019 seasons together with its US distributor, Tireco Inc. The sponsorship includes a signage package, on-site activation and hospitality opportunities for dealers and VIPs, aiming to improve the brand image and brand influence in the local market.
India’s Aditya Birla Group is now Linglong Tire’s carbon black supplier. The Chinese tyre maker reports the signing of agreement with Aditya Birla subsidiary Thai Carbon Black Public Co. Ltd. on 4 April at a ceremony attended by Wang Feng, president of Linglong Tire, Sanjeev Sood, president of Thai Carbon Black Public, and Amit Saini, the Birla Group company’s vice-president of sales and marketing.
Cooper Tire Asia has earned the 2018 Statistical Quality Award and the Simultaneous Engineering (SE) Achievement Award from Great Wall Motors Company Limited. Great Wall is China’s largest SUV and pickup truck manufacturer, producing vehicles under the Haval and Great Wall brands. Cooper, which has been supplying original equipment tyres to Great Wall since 2011, was the only tyre company recognised by the automaker with these awards.
Hankook Tire shares that its state-of-the-art research and development centre in South Korea, the Hankook Technodome, has been granted ISO/IEC 17025 certification from A2LA (American Association for Laboratory Accreditation).
Test World owner Millbrook has announced its acquisition of US-based test service and equipment provider Revolutionary Engineering, Inc. The acquisition took place on 3 April. The company will continue to be led by Allen White, with backing by the wider Millbrook management team.
The UK new car market declined in March, according to figures released today by the Society of Motor Manufacturers and Traders (SMMT). Registrations fell -15.7 per cent compared with March 2017, which due to the impending arrival of new Vehicle Excise Duty (VED) rates was the biggest month ever for new car registrations. Nevertheless, registrations are still running at a historically high level and last month’s market was the fourth biggest March on record.
For its second edition, the Movin’On sustainability mobility summit will include a global Startup Challenge. Finalists in the Startup Challenge – up to 50 startups in total – will showcase their technologies between 30 May and 1 June, demonstrating how they can impact the future of sustainable mobility.
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