Black Bear visits flagship plant site with potential investor
Following the fire that destroyed its first pilot plant in February 2019 and hurled the company into operational and financial difficulties, in May 2021 Black Bear Carbon announced plans to build a new flagship plant within the Chemelot Industrial Park in Limburg, the Netherlands. The company took a further step towards realising its plan on 23 March when visiting the Chemelot site with potential investor NEOS Direct Lending.
Continue ReadingUkraine war continues putting tyre production under pressure
At the start of the year this column predicted a positive 2022 for the tyre business on the basis that we are better prepared for the unknown because of the adaptions made during the last few pandemic years. I still believe that. But my thesis is being tested by the implications of the now month-long war in Ukraine. All our expectations are being tested. For example, never before have I received an email which switches from normal editorial matters to “our country has been invaded” from one line to the next.
Continue ReadingNexen Tire debuts anniversary logo
This year is Nexen Tire’s 80th anniversary, and the Korean tyre maker has unveiled a commemorative logo. According to the tyre maker, this new design incorporates its “legacy and history” and symbolises the “importance of the companys long-term commitment to its consumers.”
Continue ReadingOTR Tyres buys Titan International’s Australian wheel business
Titan International, Inc. has entered into a definitive agreement to sell its Australian wheel business to OTR Tyres, a Western Australia-based tyre, wheel and service provider. It anticipates closing the deal on 31 March 2022.
Continue ReadingBridgestone Mobility Solutions joins Startup Autobahn as ‘anchor partner’
Bridgestone Mobility Solutions has become and “anchor partner” of Startup Autobahn, a mobility-focused innovation network. Moderated by Silicon Valley global open innovation platform, Plug and Play Tech Center. Startup Autobahn brings together industry-leading companies and startups to identify new ideas and develop cutting-edge technologies in the mobility sector. The Stuttgart-based platform brings together more than 30,000 start-ups and around 30 corporate partners, of which the Bridgestone EMIA data-driven fleet, tyre and mobility solutions business unit is now one. Startup Autobahn provides workshops, events, business development and investment opportunities to facilitate innovative networks in mobility technology.
Continue ReadingHankook comments on S&P Global Gold Class Sustainability
Hankook has been certified S&P Global Gold Class in S&P Global’s Sustainability Yearbook 2022, making the tyre manufacturer one of the top companies in the US financial services provider’s ranking. Based on the S&P Dow Jones World Sustainability Index, the yearbook is regarded as one of the world’s foremost sustainability indices. Of the 7,554 companies evaluated for the 2022 yearbook, 75 received gold, 89 silver, and 106 bronze awards for outstanding achievement. Hankook president and CEO Sooil Lee said, “The award is a testament to our commitment to a more sustainable future. To further drive our growth as a global acting tyre company, we plan to strengthen our social, environmental and financial activities globally.”
Continue ReadingGRI gains trio of National Business Excellence awards
Sri Lankan tyre maker GRI shares that it has received three awards for demonstrating excellence in business whilst contributing to the country’s economic advancement. It accepted these honours at the recent National Business Excellence Awards 2021, which was hosted by the National Chamber of Commerce of Sri Lanka.
Continue ReadingGlobal Air Cylinder Wheels introduces OTR tyre replacement
Tyres are an essential part of mobility, but are their days numbered? One company believes that its new wheel technology can substitute the traditional rubber tyre used in mining applications and provide an alternative that is “eco-friendly, cost-effective, stronger and safer.”
Continue ReadingBush Tyres expands Boston depot with new bays, MOT testing
Bush Tyres has expanded its Boston, Lincolnshire branch with four new service bays. The branch offers MOT testing for cars as well as Class 7 MOTs for vans and motorhome. The improvements to the branch include the installation of wider bays for improved access for larger vehicles. Bush has also installed an Advanced Driver Assistance Systems (ADAS) Camera and Radar Calibration Service. The mechanical expansion means Bush Tyres Boston can offer products and services to the car, 4x4, SUV, and agricultural tyre segments, in addition to exhausts, batteries, brakes, wheel alignments, wheel balancing and suspension work.
Continue ReadingLower raw material exposure and better ESG profile – What Trelleborg gains from TWS sale
Apart from the 2.1-billion-euro price tag what does Trelleborg Group stand to gain from the sale of its Trelleborg Wheel Systems business unit?
Continue ReadingFurther global leadership and rebalanced product mix – Yokohama’s goals for Trelleborg Wheel Systems purchase
Now Yokohama has confirmed its acquisition of Trelleborg Wheel Systems (TWS), we can talk more definitively about the rationale behind the purchase. There are several drivers behind the acquisition, but they all boil down to Yokohama’s desire to increase global leadership and rebalances its product mix.
Continue ReadingTitan begins CNH Industrial global supply deal
Titan International, Inc. has entered into a three-year agreement to supply various CNH Industrial production sites with agricultural tyres and wheels manufactured at its plants in Europe and the Americas. This supply contract to the manufacturer of the Case IH, New Holland and Steyr agricultural machinery brands is valued at approximately US$400 million, assuming current exchange rates and raw material pricing levels.
Continue ReadingYokohama confirms 2.1 billion euro Trelleborg Wheel Systems acquisition
Three months after we published the news, The Yokohama Rubber Co., Ltd., has confirmed that it has entered into a share purchase agreement with Swedish-based Trelleborg AB to acquire all outstanding shares of Trelleborg Wheel Systems Holding AB (TWS). According to Yokohama, TWS’s enterprise value is €2,040 million (about ¥265.2 billion). But the acquisition agreement includes a performance-linked earn-out clause, which could increase the acquisition price by up to €60 million depending on TWS’s 2022 financial results. And therefore Trelleborg refers to the sale as a 2.1 billion euro deal.
Continue ReadingMSCI ESG rates Kumho Tire ‘AA’
Kumho Tire is ranked among the top 12 per cent of the automotive parts industry in Morgan Stanley Capital International’s (MSCI) recent environmental, social, and governance (ESG) evaluation. The tyre maker has improved its evaluation score has been steadily rising year-on-year, having received a BBB grade in 2019, an A grade in 2021, and an AA grade this year.
Continue ReadingBM Catalysts opens new UK site to meet continuing demand
UK manufacturer of catalytic converters, DPFs and front pipes, BM Catalysts, has kickstarted the year with the opening of an additional UK production plant, as part of the company’s ongoing investment to meet customer demand. The purposely developed facility, based in Stoke, will enable BM Catalysts to increase its manufacturing capacity, highlighting the company’s ethos for continual investment in its supply of products to UK and European markets.
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