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Further legal issues for Hankook Tire & Technology chairman Cho Hyun-bum, with prosecutors seeking to combine the two charges against him into a single indictment. Cho, who was indicted without detention on 21 July for breach of trust, is already on trial for allegedly embezzling approximately 20 billion won (£12.1 million).
Nokian Heavy Tyres now has a second partner in the UK. RH Claydon Ltd. is distributing Nokian forestry and agricultural tyres from its warehouses after entering into an agreement with the tyre maker. RH Claydon reports that it now stocks these products in most popular tread patterns and sizes, with next-day availability in certain locations.
Michelin has reported its business results for the six months to 30 June 2023, and chief executive officer Florent Menegaux describes these as good within a context of flat or declining tyre markets. The company is increasingly generating revenue through non-tyre sales.
Yokohama Rubber has extended its original equipment supply to the Mazda CX-90, the larger sibling of the CX-80 sold in the UK and Europe. Not only is it supplying Yokohama Geolandar X-CV tyres for Mazda CX-90 models sold in the USA, Mazda has also approved the Yokohama Advan V61 as an original equipment fitment for the CX-90 in “Australia and other markets.”
As of 1 July 2023, Stephan Brückner is responsible for Kumho Tire’s original equipment business with all German vehicle manufacturers as Senior Sales Account Manager. He joins Kumho from Hankook Tire Europe, where he most recently served as OE Account Manager.
Ceat Limited has announced its unaudited results for the first quarter of its 2024 financial year, the three months ending on 30 June 2023. Consolidated revenue is up 4.1% YoY, to Rs 29.35 billion (£277.7 million), with an EBITA margin of 13.1%.
The Bridgestone passenger/light truck tyre manufacturing facility in Wilson, USA has earned International Sustainability and Carbon Certification (ISCC) PLUS recognition for its transparency and traceability of sustainable raw materials. It is the second Bridgestone tyre manufacturing facility in the country to gain this certification
The open letter that Elliott Investment Management L.P. sent to The Goodyear Tire & Rubber Company on 11 May 2023 was met with a promise to review the shareholder’s recommendations, which included the initiation of an operational review and the appointment of “five new highly qualified independent directors.” While Goodyear hasn’t met this wish list in its entirety, today the company announced three additions to its Board of Directors in connection with a cooperation agreement with Elliott.
Stephan van Santbrink will become chief executive officer of Arlanxeo on 1 October following Donald D. Chen’s retirement from this position. Chen will remain involved with the company in a senior advisory capacity until 1 February 2024 to ensure a smooth transition of leadership and the continuation of important strategic projects.
Asahi Kasei has decided to discontinue its Asahi Kasei Cord Co., Ltd. business and liquidate the company. Around 70 people currently work for the Hyuga, Japan-based operation, where production is scheduled to cease by or on 31 March 2024. The plant will close a year later.
Marangoni S.p.A. and Ceat Limited have entered into a strategic partnership to provide tyre retreading solutions in the Indian market. By combining Ceat’s tyre casings with Marangoni’s retreading technology, the two firms intend to provide customers with “an optimum solution that offers extended tyre life, superior performance, and cost-effectiveness.” Ceat and Marangoni also view the partnership as a means of expanding their franchisee networks.
Schrader has launched a new aftermarket TPMS sensor for Iveco trucks. According to Schrader, the new OE replacement sensor accurately measures tyre pressure and temperature, setting a “new standard for precision and reliability.”
Prometeon Tyre Group UK has appointed Malcolm Smith as Agricultural Sales Manager for UK, Eire and Nordics. He will be responsible for brand development and sales for Prometeon’s Agricultural tyre products and services covering all farm machinery, trailers, tractors, sprayers, combines and loadalls throughout the UK, Ireland, and Northern Europe, North Atlantic, including Denmark, Finland, Iceland, Norway and Sweden.
Earlier this month, European broadcaster Arte screened a documentary about a series of accidents involving heavy trucks. Titled ‘Sophie Rollet Takes On Goodyear’, the French documentary looks at the possible connection between these accidents and tyre failure. It is available to watch with English subtitles in the Arte archive.
Pirelli is one of the partners in the FIA Formula 1 World Championship film to be produced by Jerry Bruckheimer Films of Jerry Bruckheimer and Chad Oman in collaboration with F1 Group and seven-time world champion Lewis Hamilton.
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