Nexion agrees to buy Eagle SMF Distributors Pty Ltd
Nexion S.p.A., the holding company of the Nexion Group, has signed an agreement to acquire Eagle SMF Distributors Pty Ltd, that will be finalized “in the next weeks”. Following the acquisition, Eagle SMF will preserve the same current local management and service team to ensure “no change to the customer experience”.
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Commercial debut for Yokohama’s fin tech on Advan A50
Yokohama Rubber has commercially introduced a new technology it has been working on for a number of years, aerodynamic fins that improve handling stability. It debuted this feature on the Yokohama Advan A50, a size 165/50R16 75V tyre currently only available in Japan as an original equipment fitment on the Daihatsu Copen two-door convertible kei car.
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Apollo Tyres plant gains 5-star British Safety Council rating
The British Safety Council has conducted an audit of the Apollo Tyres factory in Andhra Pradesh, India, and on the basis of this evaluation awarded the tyre maker a Five Stars rating. Reporting this distinction, Apollo Tyres emphasises that gaining a Five-Star occupational health and safety audit rating demonstrates the company’s “commitment towards the continual improvement of health and safety management systems and associated arrangements.”
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Falken partners with Bundesliga club VfB Stuttgart
Starting in the 2024/25 season, Falken will be an official club partner of German Bundesliga football club VfB Stuttgart. As part of the sponsorship deal, the Falken tyre brand will be represented on more than 240 metres of perimeter LED displays during VfB Stuttgart’s home matches. In addition, the Falken logo will be present on two static grandstand banners, and an extensive hospitality programme is also part of the sponsorship package.
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ETEL expanding footprint in Ireland with Tractamotors Group acquisition
European Tyre Enterprise Ltd (ETEL) is set to extend its footprint with the acquisition of Tractamotors Group, a leading tyre distribution company operating in the Republic of Ireland and Northern Ireland. Together with shareholders of Tractamotors Group, ETEL has reached an agreement to purchase a 100 per cent shareholding in the business.
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Honda honours Hankook Tire with 2 awards
Honda has recognised Hankook Tire North America with two 2023 Mass Production Supplier Awards, reflecting its ongoing collaboration with the automaker in delivering original equipment, a partnership that dates back to 2013.
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Stapleton’s a Hitchin Town F.C. sponsor
When Hitchin Town F.C. players take to the field this year, their shorts will feature none other than the logo of Stapleton’s (Tyre Services) Ltd. The wholesaler has signed on as sponsor for this item of apparel during the current season.
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Remember This? – August 2024
Our monthly magazine column looks back at the biggest news events from the tyre industry five, 10, 15 and 20 years ago. This months edition looks back to August issues from 2004, 2009, 2014, and 2019 for some of the biggest tyre industry news of those months. Click the month and year to access the digital edition of the relevant issue of the magazine from Tyres & Accessories’ expanding digital archive.
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Tyre News in Numbers – August 2024
Tyres & Accessories’ monthly Tyres News in Numbers’ column boils down the latest tyre industry news to the most important statistics of the month. Below, we look at the big numbers from the August 2024 magazine. $905 million... The value of Yokohama’s purchase agreement with Goodyear to acquire the US-based manufacturer’s Off-the-Road tyre business – the completion of the acquisition is subject to the usual regulatory approvals, but is expected to close by early 2025.
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Giti hosts first HGV ride-and-drive customer event, commences Verified by Customers campaign
Giti Tire has held its first ever dedicated European heavy goods vehicle (HGV) ride-and-drive customer event, coinciding with its new marketing campaign “Verified by Customers”. With more than 40 Giti distributors and dealers from across Europe, the Giti Truck Trek Experience was hosted by Transpolis, a world-class proving ground for innovation and safety in Lyon, France.
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Bohnenkamp now a European public limited company
Osnabrück, Germany-based tyre wholesaler Bohnenkamp recently became a European public limited company and is now trading as Bohnenkamp SE. This form of public limited-liability company that allows Bohnenkamp to run its business in different European countries using a single set of rules.
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Global dealers visit Linglong Tire’s European plant
In early August, Linglong Tire hosted a visit to its new factory in Zrenjanin, Serbia, for approximately 130 dealers from the Middle East, Africa, and the Asia-Pacific regions. During the visit, Linglong Tire signed long-term cooperation agreements with 16 strategic partners, establishing a framework for closer future collaboration.
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Prinx Chengshan reports robust H1 2024 financial performance
Prinx Chengshan Holdings Limited has announced a strong financial performance for the first half of 2024, with revenue rising 23.7%, to RMB 5,363.4 million (£570.52 million) and net profit jumping to RMB 811.4 million (£86.34 million), a 148.0 per cent year-on-year increase.
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Nexen raises tyre prices in Europe
Nexen Tire has “restructured” the prices of its summer and all-weather tyres effective 1 September 2024. The move, which amounts to a price increase, will be implemented across the European market, including the United Kingdom and Turkey. It will apply to all goods ordered from that date onward.
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Enviro receives milestone compensation, reports improvements in H1 2024
Scandinavian Enviro Systems (Enviro) has announced a significant achievement in its joint venture project with the receipt of SEK 25.6 million (£1.9 million) as compensation for meeting a predefined milestone linked to the construction of its recycling plant in Uddevalla, Sweden. This compensation, which comprises equal parts cash and shares in the joint venture company, marks the first of several planned disbursements tied to the projects progress. Enviro has also published its financial results for H1 2024.
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