Production of Prometeon-branded tyres for UK, European and Turkish markets starts
Following their launch in Egypt at the beginning of May 2024 and their UK debut at the end of May, Prometeon Tyre Group has started producing Prometeon-branded tyres for the UK, European and Turkish markets. On 4 October 2024, Prometeon Tyre Group launched its first Serie 02 Prometeon-branded tyres for the main European main markets, the UK and Turkey. The launch, which took place in Turkey, continues the expansion that began with the production and distribution of Serie 02 tyres in Egypt earlier this year, which was aimed at the African and Middle Eastern markets. The transition to the new product brand will be gradual in Europe, Turkey and the UK, with the new R02 line, developed for regional applications, set to be available starting from October.
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Morocco branch to facilitate Hankook Tire’s growth in Africa
With the opening of a subsidiary in Morocco, Hankook Tire & Technology aims to expand its presence in the Maghreb and West Africa regions. The tyre maker’s European headquarters has played a key role in setting up the new subsidiary, which Don-yi Jeon will lead as Managing Director.
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Elite Garages joins Bangers4Ben 2024 charity rally
Elite Garages is participating in the Bangers4Ben 2024 rally, a unique and engaging charity event aimed at raising funds for the automotive industry charity, Ben. This annual event takes place between 5 and 8 October and encourages participants to purchase a ‘banger’ – a car costing no more than £750 – and embark on a 1,500-mile journey across the Alps. Adding to the fun, each team themes their vehicle and dresses in matching fancy dress, bringing creativity and excitement to the rally. Upon completion, all the cars will be auctioned, with proceeds going directly to Ben.
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Tyre Recovery Association’s vibrant forum demonstrates necessary focus on UK sector
When DME Tyres’ Bill Clarke, the Tyre Recovery Association’s president, addressed the impressively large number of delegates from across the tyre sector at the 2024 Briefing Day (Tuesday 24 September, Leamington Spa), he was in no mood to mince his words. “I don’t think the UK recycling industry can survive in its current form…with one hand tied behind its back,” he said, summing up many years of frustration for the TRA and its members. With a new government slowly – too slowly, perhaps – setting out its legislative agenda, his dramatic rhetorical tone was understandable. With several issues coming to a head, led by an end-of-life tyre (ELT) export situation that is, in every sense, unsustainable, and evolving UK legislation governing waste carriers, brokers and dealers (CBD), the association and its forum speakers demonstrated an increased urgency about the tyre recovery situation.
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ETB Wholesale driving forward after in-depth investment project
ETB Wholesale is investing in its brand portfolio after it signed a sales agreement with leading Indian tyre manufacturer Ceat. The wholesaler said the brand will complement its existing range of products, which include popular tyre brands such as Bridgestone, Davanti and Landsail. It added that it is currently undergoing a comprehensive investment project to position itself as one of the biggest regional players in the sector, with promotions and a significant investment to boost its online presence. ETB Wholesale operates in the Midlands, Wales, the South West and Cornwall, catering for a wide range of requirements for independent garages.
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4 automotive suppliers among ‘World’s Most Sustainable Companies’, Continental 2nd
Earlier this year, Time magazine and Statista recognised the top 500 most sustainable companies in the world, 2024. Shortly afterwards, we reported how Pirelli, Continental and Hankook were rated as the top three tyremakers in the list. However, four automotive suppliers could also be found in the ranking, of which Continental AG came out 2nd.
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Brembo sells Pirelli stake, Camfin buys half
Well-known brake manufacturer Brembo N.V. has sold its entire stake in Pirelli & C. S.p.A. through an “accelerated bookbuilding offering” (the “Placement”). The proceeds amount to approximately 282.9 million euros, deriving from the sale of Brembo N.V.’s entire stake of no. 55,800,000 ordinary shares of Pirelli & C. S.p.A., at a price of 5.07 euros per share. Brembo’s stake in Pirelli had equated to roughly 5.58 per cent of Pirelli’s issued share capital.
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Aeolus focuses on consolidating overseas market channels
In the first half of 2024, Aeolus’ revenue and net profit were 3.15 billion yuan (about £338 million; €406 million) and 230 million yuan (about £25 million; €30 million), respectively. Both figures have increased significantly compared with the same period last year.
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Competition heats up in the Europe’s coldest tyre markets
September has been a month of official openings. Specifically, Nokian Tyres opened its Romania tyre factory – something it has done in record time (see pages 14-16 for the details). And Linglong flipped the switch on passenger car tyre manufacturing at its Serbia plant too (see pages 18-19). At the same time, October’s magazine focuses on tyre wholesale (see page 44 onwards) and industrial tyres (from page 36). However, this column turns its attention to an arguably under-reported part of the European tyre market – the Nordic/Scandinavian tyre business.
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Bridgestone ending Olympic partnerships – future focus on motorsports
When the Paris 2024 Summer Paralympic Games concluded last month, the ceremony at Stade de France also served as a farewell of sorts to partner Bridgestone. Together with the International Olympic Committee (IOC), Bridgestone Corporation has agreed not to renew its current Worldwide Olympic and Paralympic Partnership agreement after its expiry at the end of this year. Instead, the company intends to recommit to “more endemic global motorsports platforms.”
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Yokohama makes senior management changes
Effective 1 October 2024, Yokohama Rubber Co. Ltd. has appointed Yoshikuni Nakamura to take on the role of Member of the Board and Managing Officer, Assistant to President, Head of Tire Business Planning Div., Head of Corporate Social Responsibility Div. He previously held the position of Member of the Board and Managing Officer, Assistant to President, Head of Tire Business Planning Div., in charge of Corporate Social Responsibility Div.
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Däckhuset i Norrland makes a hattrick of CTS members
The news that Däckhuset I Norrland, based in Northern Sweden, has joined Circular Tire Services (CTS) makes it a hattrick of new members of the fast-growing Scandinavian tyre distribution during the course of a month.
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Yokohama TWS names Elio Bartoli as company president
Yokohama TWS has appointed Elio Bartoli as its new company president, effective 1 December. Elio Bartoli succeeds Paolo Pompei, who is stepping down to become president and CEO at Nokian Tyres. Company representatives thanked Pompei for his ”impressive tenure” with the company.
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Norgesdekk named exclusive Magna Tyres distributor for Norway
Magna Tyres Group has appointed Norgesdekk its exclusive distributor for Norway, an arrangement it views as a continuation of its “ambitious global expansion strategy” and a reinforcement of Magna Tyres’ presence in Scandinavia. Norgesdekk will offer the full range of Magna OTR and industrial tyres to customers in the Norwegian market.
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Pirelli UK CEO promoted to European role
Livio Magni, previously Pirelli UK CEO, has now been appointed as the new CEO of Pirelli Europe. This expanded role includes his recently assumed position of chairman of Pirelli UK. As a result, Dimitrios Papadakos has now been welcomed as the new CEO of Pirelli UK.
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