Nokian Tyres investing 106 million euros in new European factory
Nokian Tyres is expediting “plans to invest in new production capacity in Europe” in response to the sanctions against Russia, where the company has significant levels of tyre production. Specifically, Nokian’s board of directors will cut the dividend payable to shareholders by 106 million euros to fund the new capacity. Nokian Tyres will also increase capacity at its factories in Finland and the US with a view to becoming more geographically diversified in its manufacturing operations.
Continue ReadingGoodyear partnering to develop US-based natural rubber source
The USA has classified natural rubber as a strategic raw material that serves as a critical ingredient in military, aircraft and truck tyres. The country currently relies on rubber imports for its tyre production but wishes to reduce this dependency, and government and military are thus working with private partners to accelerate commercialisation of natural rubber from dandelions. Goodyear Tire & Rubber will play a key role in achieving this goal.
Continue ReadingTrelleborg exited manufacturing in Russia in February
Trelleborg Group cancelled plans to invest in new manufacturing facilities in Russia following Russia’s invasion of Ukraine at the end of February. Back in October 2021 Trelleborg had announced plans to invest roughly 30 million euros in manufacturing operations in Russia, Vietnam, Japan and Morocco. The Russia project was set to focus on sealing solutions.
Continue ReadingVMI donation supporting Ukrainian refugees
Together with its employees, VMI has raised 160,00 euros through a fundraising action and has donated this to Giro 555, the Dutch part of the global Emergency Appeals Alliance. The donation will be used to provide practical support to the Ukrainian people and those affected by the conflict.
Continue ReadingGRI remains steadfast despite Sri Lanka’s economic & political challenges
With its currency the world’s worst-performing at present, Sri Lanka is facing an economic and political crisis. Despite these issues, GRI remains resilient and continues to supply its specialty tyres to global customers. The tyre maker has published a statement underlining its commitment to stand firm during the challenging times prevailing in the island nation.
Continue Reading25% of Neumáticos Andrés sales are exports
The evolution of its International Department is behind the recent growth in exports from Iberian Peninsula-based tyre distributor Neumáticos Andrés. Exports accounted for 25 per cent of its 2021 sales, with deliveries reaching customers in more than 30 countries around the world.
Continue ReadingFalken: Power generation tech measures tyre wear
A joint project between Sumitomo Rubber Industries, parent company of Falken Tyre Europe, and Professor Hiroshi Tani of Japan’s Kansai University has resulted in the development of an innovative power generator for tyres. It generates electricity from the rotation of the tyre and uses this to power peripheral sensors installed within the tyre. In this way, the sensors can operate without the need for batteries.
Continue ReadingYokohama shares 2022 motorsports activity plan
Yokohama Rubber views motorsport engagement as “crucial” to the development of new tyre technologies for its Advan and Geolandar brands, and this focus is reflected in its motorsports activity plan for 2022. Not only will the company participate in a wide variety of motorsport events in its home market Japan and around the world, from top-level championships to grassroots racing, the tyre maker also intends to begin using its presence in motorsport to further its development of tyres that use renewable and recyclable materials.
Continue ReadingBridgestone’s Webfleet Solutions to present first global Mobility Conference
Bridgestone’s telematics solutions provider, Webfleet Solutions will present the first global edition of the annual Webfleet Mobility Conference online on 26 April 2022. Titled ‘Mobility 2032: Are you ready?’, fleet and mobility experts will share insights and best practices to equip fleet decision-makers and business leaders with knowledge, inspiration and practical tools to design the fleets of tomorrow.
Continue ReadingPrinx Chengshan: Profit down 24.7% despite higher revenue in 2021
The difficulties that tyre makers are facing at present were reflected in Prinx Chengshan Holdings Limited’s financial results for 2021. Although company revenue increased 20 per cent year-on-year, a “significant increase in raw material prices and ocean freight rates” dragged gross profit down by approximately 24.7 per cent.
Continue ReadingGrant to aid Bridgestone’s guayule research
The U.S. Department of Energy (DOE) Joint Genome Institute has awarded Bridgestone Americas a research grant to advance its optimisation of guayule, a drought resistant, desert shrub that shows promise as a local source of natural rubber for tyre production. Bridgestone has spent more than a decade researching guayule rubber for use in tyres.
Continue ReadingContinental included in tyre cartel investigation
The Competition Commission of India (CCI) investigation into alleged cartel activities and anti-competitive behaviour doesn’t exclusively focus on local tyre makers. Stock exchange Börse Frankfurt shares news from the German Press Agency (dpa) regarding the visit of CCI officials to a site operated by Continental AG in the city of Faridabad. The statement shares that Continental is “cooperating fully with the authorities” but does not want to comment on the details of this ongoing investigation.
Continue ReadingNokian Tyres cuts 2021 dividend as European capacity ramps up
The war in Ukraine has brought “high uncertainty” to Nokian Tyres’ operational environment and manufacturing capacity, and as a result it is accelerating plans to invest in new production capacity in Europe. To help fund this capacity, the Board of Directors at Nokian tyres has decided to decrease the dividend payable for the 2021 financial year.
Continue ReadingPelmar Engineering appoints Tal Dekel as CEO
Tal Dekel has been appointed as chief executive officer of Pelmar Engineering Ltd. Dekel has been with the Pelmar Group for 20 years and is the son of the previous group technical director Dan Dekel, who served the company for over 30 years.
Continue ReadingFTSE4Good Index Series: Bridgestone working towards E8 Commitment
For the fourth consecutive year, Bridgestone Corporation has been selected for inclusion in the FTSE4Good Index Series. Announcing its continued presence within the environmental, social, and governance (ESG) investment index, the company says it will “continue various initiatives” across the value chain whilst striving to achieve what it set out in the Bridgestone E8 Commitment.
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