Bitumina becomes Nynas’ largest shareholder
Having exited US sanctions in May 2020, Nynas – which supplies oils to the tyre and rubber industries – has continued an eventful year by announcing significant ownership changes that put Bitumina in a commanding position amongst its shareholders.
Continue ReadingAxing for the sake of axing: Unions denounce closure of profitable Continental tyre plant
The union representing employees at a closure-threatened Continental factory has responded angrily to the decision, accusing Continental of “sacrificing” a “profitable tyre plant” as part of its savings programme. The IG BCE union particularly doesn’t understand the logic behind this step as it claims the tyre business in Aachen has achieved “double-digit” profit margins over the years and even operated in the black during the corona lockdown.
Continue ReadingBridgestone to close Bethune, France plant
Bridgestone has announced its plan to close its Bethune plant in France. The manufacturer said that the measure is being used to reduce production overcapacity and to improve cost efficiency. The proposal could impact 863 employees. Bridgestone added that it is “fully aware of the social consequences of this project and is committed to using all means at its disposal to define support plans for each employee.” The earliest the closure would take place is the second quarter of 2021. Bridgestone’s presence in France would continue through sales and retail operations, in which it employs about 3,500, the company said.
Continue ReadingNexen Tire renews Manchester City partnership for third time
Nexen Tire’s renewal of its Manchester City partnership for a third term sees the tyre manufacturer aim to “further boost co-branding opportunities, media and marketing partnerships, and much more for both parties”. The new deal means Nexen Tire logo will continue to appear on the left sleeve of playing shirts and expand this position to all available City teams and competitions. This will include both men’s and women’s playing kit, men’s training kits, the Elite Development Squad (EDS) and eSports players. Nexen Tire has been supporting Manchester City since 2015 and became the first official sleeve partner in 2017, the first announcement of its kind in the Premier League.
Continue ReadingGoodyear Blimp returning to European motorsport
Some 35 years after its last race appearance on our side of the Atlantic, this summer the Goodyear Blimp will once again be seen at some of Europe’s most prestigious motorsport events. It will celebrate Goodyear’s return to European and international motorsport by accompanying the tyre brand’s return to the 24 Hours of Le Mans before setting flight to the Nürburgring where it will accompany the WTCR touring car races as part of the Nürburgring 24 Hours race weekend.
Continue ReadingContinental closing Aachen, Germany tyre factory
Employees at Continental AG’s Aachen, Germany tyre factory were informed that the plant will be closed by the end of 2021. According to the German Handelsblatt newspapter, more than 1,800 employees will be affected by the closure. The announcement comes two weeks after Continental announced cost-cutting plans aiming at saving 1 billion euros by 2023.
Continue ReadingMichelin launches BIB Action 2020 employee share ownership plan
Michelin has introduced an employee share ownership plan. Bib Action, as the plan is known, gives Michelin group employees the opportunity to subscribe to a rights issue reserved for them under preferential terms - namely at a discount. Michelin’s managing chairman decided to carry out the rights issue in order to “more deeply involve employees in the group’s growth and development through a dynamic relationship built on mutual commitments”. The subscription period for the five-year minimum ownership share scheme will run from 16 September to 1 October 2020. The rights issue was authorized by the Annual Shareholders Meeting of 23 June 2020 in the 22nd resolution.
Continue ReadingEcobat Battery Technologies upgrades fleet
Ecobat Battery Technologies (Ecobat) has upgraded its fleet of delivery vehicles. The battery supplier has added 11 new vehicles to its fleet, which will deliver batteries from all 16 of Ecobat’s sites across the UK and Ireland.
Continue ReadingTyre Boss becomes official UK Techking agent
Bridgend’s Tyre Boss has become the UK agent for Techking Tires. The Qingdao, China based tyre manufacturer is a specialist in OTR tyre segments, fitted to heavy machinery in a variety of applications. Its new UK agent has pressed on with ambitious growth and expansion plans in 2020. Its latest development follows the acquisition of two warehouses, a large tyre press and a successful ISO audit so far this year.
Continue ReadingYokohama investing US$165 million in new India OTR tyre factory
The Yokohama Rubber Co., Ltd. is set to build a new plant at Atchutapuram Industrial Park, Visakhapatnam, Andhra Pradesh, India to expand ATG’s (Alliance Tire Group) tyre production capacity. The new plant will have a daily production capacity of 55 tons (rubber weight), with planned capital investment totalling US$165 million. Construction will start in the third quarter of 2020 and the new plant is scheduled to come on line in the first quarter of 2023.
Continue ReadingSentury Tire joins the Shenzen Stock Exchange
Having received approval back in June, Qingdao Sentury Tire has successfully completed its Initial Public Offering (IPO) and is now listed on the Shenzhen Stock Exchange (China) as of 11 September 2020. 11 per cent of the companys shares were valued at 1.31 billion yuan (162 million euros; £149.859 million) by investors, resulting in a theoretical total valuation of 1.47 billion euros. The offered shares offered were oversubscribed 2887 times over. But what is the company planning to do with its newly-raised funds?
Continue ReadingNexen publishes first sustainability report
Nexen Tire has published its first sustainability report, which outlines the company’s sustainable practices and environmental, social, and economic performance in 2019. Nexen Tire’s 2019/20 Sustainability Report is based on standards of the Global Reporting Initiative (GRI), the United Nations Sustainable Development Goals (UN SDGs), and has been verified by the Korea Management Registrar (KMR), a third-party assurance institution.
Continue ReadingMichelin confirms acceleration of hydrogen plans
France’s government has launched a national hydrogen strategy valued at seven billion euros, and aims to build up capacity for hydrogen from non-fossil sources by 2030. Michelin applauds this step and has reiterated its commitment to its own goals in this field. The company says its work here will mean a “significant share” of its business will be non-tyre related in a decade’s time. Fabio Ferrari, co-founder of Symbio, is tasked with leading the development of Michelin’s Hydrogen Mobility strategy and supporting its deployment.
Continue ReadingMichelin and Pirelli lead in rubber sustainability – Context Group
Michelin and Pirelli are leading the way on tyre and rubber sustainability, according to a recent report from Context Group. Context’s ranking assessed 11 members of the Tire Industry Project (TIP), namely Bridgestone; Continental; Cooper; Goodyear; Hankook; Kumho; Michelin; Pirelli; Sumitomo Rubber; Toyo and Yokohama. Context analysed the sustainability content on each company’s website to see if it included communications covering some of the main issues associated with the life cycle impacts of tyres, including the four focus areas of the TIP: tyre and road wear particles, sustainable natural rubber, end-of-life tyres and environmental performance. The researchers assessed how well the companies tell their sustainability story by looking at their use of multimedia, news articles and social media.
Continue ReadingResearch reveals ‘vital information’ relating to tyre particles…
The University of Plymouth published government-funded research into what happens to particles released from vehicle tyres back in May. This comparatively recent report – as far as academic research is concerned – was launched with no-small media fanfare amid claims that tyres “could be a significant and previously largely unrecorded source of microplastics in the marine environment”. Be that as it may, the research also highlighted a number of significant knowledge gaps in this field of research.
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