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The latest news from South Korea suggests that local tyre distributor and retail network operator Tire Bank Co. Ltd. would like to purchase the Kumho Tire shareholding that China’s Qingdao Doublestar Tire is currently negotiating to acquire from creditors. The unexpected appearance of the Daejeon-based firm, which hinted it may bid together with one or more partners, further complicates an already drawn out and difficult transaction.
A survey performed for Kwik Fit indicates that the pothole problem is getting worse in the UK, a trend that will surprise very few people. Based upon feedback from 2,049 respondents, it has been determined that pothole damage to vehicles last year cost a total of £915 million to repair. This is 34 per cent more than the cost calculated from a similar survey two years ago – and the rise can’t be explained away by increasing repair costs.
Pirelli began an eighth season as Formula 1 tyre supplier at the Australian Grand Prix over the weekend, and it opines that pit stop strategy was “central” to the race’s outcome.
It won’t be a Good Friday for Kumho Tire if an agreement between its creditors and the labour union representing its workforce isn’t reached by the end of this week. Friday 30 March is the deadline set for a formal consensus regarding the sale of a 45 per cent share in the tyre maker to China’s Qingdao Doublestar Tire for KRW 646.3 billion (£421.7 million).
Anant Goenka, managing director of Ceat Ltd., has been elected chairman of Indian tyre industry body the Automotive Tyre Manufacturers’ Association (ATMA). Rajeev Anand, chairman and managing director of Goodyear India Ltd., is the association’s new vice-chairman.
At the Innovation Awards Ceremony held at the SITL transport and logistics exhibition in Paris last Wednesday, companies were honoured for their latest and greatest in six awards categories. Michelin Solutions’ MyBestRoute application was declared winner of the Technologies and Information Systems category.
With an investment of approximately 290 million euros, Hankook Tire is adding a truck tyre production unit to its factory in Rácalmás, Hungary. Work on this expansion project – the fourth since the plant opened in 2007 – will begin in June, with production expected to commence in June 2020. The truck tyre production unit will have the capacity to make 550,000 tyres a year, and its opening will create around 150 new jobs.
More than 250 million euros will be invested into Pirelli’s business in Latin America over the next three years in order to reinforce its ‘High Value’ strategy within the consumer tyre segment. The investment plan was announced by Marco Tronchetti Provera, executive vice-chairman and chief executive officer of Pirelli, during his visit to the company’s […]
A new Dezent alloy rim has been launched to meet growing demand in the van market. Suited to models such as the Mercedes V Class and VW T5/T6 Crafter, the Dezent Van offers a combination of looks and very high load capabilities. Alcar quips that the new rim is ‘Van’tastic.
For the sixth consecutive year, Yokohama Rubber Co. Ltd. has earned Caterpillar’s premier supplier award, Platinum Level Recertification in its Supplier Quality Excellence Process (SQEP). The award went to Yokohama’s factory in Onomichi, Japan, which produces original equipment and replacement off-the-road tyres for a wide range of equipment.
Exide Technologies has announced a sponsorship deal with Team Estrella Galicia 0,0 Marc VDS in this season’s MotoGP championship. The company says it views this new arrangement, which will expose Exide to a potential audience of millions around the world, as an “attractive marketing proposition.” As part of the sponsorship deal, the Exide logo will appear on Franco Morbidelli’s bike, team livery and in team promotional material.
In addition to employing new country team members, in-house sales representatives and warehouse staff, Heuver Tyrewholesale has strengthened its team with the appointment of a new marketing manager. Jeff van den Biggelaar began joined Heuver Tyrewholesale at the start of this year and draws upon prior experience gained within the tyre industry as well as in related roles in other businesses.
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Three new Camso industrial pneumatic tyres have been introduced for forklift and ground support equipment applications. These are the Solideal Air 550, Air 570 and Air 561, tyres Camso says are aimed primarily at markets in Europe, the Middle East, Asia and Africa. The Air 550, Air 570 and Air 561 respectively replace the Solideal ED Plus, Rib Lug and ZZ Rib.
A new joint venture has been set up between Michelin and industrial products distributor CFAO for importing and distributing premium and quality segment tyres into Kenya and Uganda. CFAO holds a 51 per cent share in the new entity and Michelin the remaining 49 per cent. The joint venture’s governance is equally divided between CFAO and Michelin.
With a new tyre aimed at urban excavation applications, Nokian Heavy Tyres says it is introducing a tyre “designed to start a new era of excavation work in city environments all over the world.” It adds that the Nokian Armor Gard 2 resolves the “key issues” of urban excavation – ensuring safety and stability even in the most demanding tasks and preventing tyres from wearing rapidly during long on-road transitions.
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