Sumitomo Rubber Industries, Synthos sign rubber powder MoU
Synthetic rubber producer Synthos has signed a Memorandum of Understanding (MOU) with Sumitomo Rubber Industries (SRI), manufacturer of the Falken tyre brand and Dunlop tyres for many markets outside Europe. Under the terms of this MoU, the partners will promote the development and use of high-performance rubber powders for the production of sustainable tyres.
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Hankook & Company acquires Hanon Systems
Some 180 days after signing a memorandum of understanding with Hahn & Company in May, on 31 October Hankook & Company Group (formerly Hankook Tire Group) entered into share purchase agreements for the acquisition of Hanon Systems Co. Ltd. The company has executed the acquisition through its core business, Hankook Tire & Technology (Hankook Tire), and now holds a 54.77 per cent stake in Hanon Systems.
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SKS buys Mehler EP’s Martinsville plant assets
AB Svenskt Konstsilke (SKS), the Swedish-based global leader in single-end cords for tyres, has announced the acquisition of the assets from Mehler EP’s 153,500-square-foot Martinsville plant in SC, USA. According to the company, the equipment will significantly enhance SKS’s production capacity at its facilities in Estonia, China, and Mexico, adding an additional 3,000 tons of single end cord capacity annually. The assets include multiple dipping lines, twisting machines, winders, and a fully equipped laboratory.
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Vredestein sponsors AS Monaco
Apollo Tyres Ltd has signed a one-season shirt-sleeve sponsorship deal with AS Monaco, to enhance the visibility of its Vredestein Tyres brand. The collaboration is designed to drive awareness of Vredestein’s products “among a broad audience in France and internationally, leveraging Ligue 1’s status as the fifth most-watched football league globally”. The new sleeve branding will debut at AS Monaco’s home league match against Brest on 22 November.
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Sophie Foucque named CEO of Michelin Connected Fleet in three continents
Sophie Foucque has been appointed as CEO of Michelin Connected Fleet, Europe, Africa and Australia. Previously, she headed Michelin’s Mobility Intelligence Business Venture as group managing director, prior to which she supported several divisions in the fields of artificial intelligence and business change, during a career within Michelin Group spanning nearly 15 years. Specifically, Foucque was previously vice-president for M&A Strategy and Innovation in Michelin’s Services & Solutions division. She will now be based in London in her new role.
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Recykl to decide upon Germany, Lithuania acquisitions by year’s end
Polish waste tyre recycler Recykl Group says it increased the scale of its operations in the nine months to 30 September 2024, and during the final month of this period concluded due diligence processes regarding potential acquisitions in Germany and Lithuania. The company is currently analysing the results to prepare for possible transaction agreements, with Recykl’s Management Board anticipating reaching a decision by the end of the year.
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CTS Group raises 112 million euros to back growth
Circular Tire Services Europe Holding (CTS Group) has completed the inaugural issuance of senior secured bonds totalling 1.3 billion Swedish krone (£93.717 million; 112.176 million euros; US$118.491 million). Net proceeds from the bond issue will be used to “refinance existing debt and for general corporate purposes” including mergers and acquisitions, with company representatives saying the financing provides a “foundation for future growth driven by M&A and organic initiatives.”
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Indoor alternative – Smithers invests in SOVAT machine
Smithers has invested in a state-of-the-art Simulated On-Vehicle Acceleration Testing (SOVAT) machine, which the testing, consulting, information, and compliance services firm recently debuted at its Smithers Suzhou, China laboratory. The SOVAT machine results from joint work with vehicle and tyre manufacturers and aims, says Smithers, to address “tyre testing pain points.” Specifically, it provides an indoor, repeatable alternative to on-vehicle tyre testing for treadwear, breaking in, chip and chunk and road hazard endurance, a process that can be time-consuming and inconsistent. Smithers says the SOVAT machine provides results “in a fraction of the time.”
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JK Tyre joins RE100
JK Tyre & Industries has become the first Indian tyre maker to join the global corporate renewable energy initiative RE100, and just the 16th business of any type within the country. Company Chairman and Managing Director, Dr Raghupati Singhania, states that JK Tyre’s decision to join RE100 “represents our unwavering commitment to environmental responsibility.
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Wheel alignment in MOTs ‘would cut emissions, save UK motorists £4bn a year’ – SharkEye
Garage equipment company SharkEye Wheel Aligners UK has made the case for making wheel alignment part of the MOT test. The company argues that ensuring UK road vehicles are properly aligned would save motorists billions of pounds a year. Proper alignment helps to minimise rolling resistance, as well as ensuring that tyres wear evenly, increasing their longevity. The firm used the occasion of a visit from Jo White MP to its new service centre in Worksop, Nottinghamshire to put forward its argument. SharkEye’s message comes as Prime Minister Keir Starmer outlines his UK’s ambitious ‘net zero’ targets at the COP29 climate summit in Azerbaijan.
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European, regional funding for Bolder Industries’ Antwerp ELT project
It may be behind schedule, but Bolder Industries is pressing ahead with plans to set up a pyrolysis facility in Antwerp for obtaining raw materials from end-of-life-tyres, and its efforts have been given a boost in the form of a 32 million euro grant by the European Commission through the EU Innovation Fund pilot programme. This is further supplemented by a 2 million euro grant from Belgium’s Flanders region. The funding will enable the construction of Bolder’s European facility at the Port of Antwerp, a plant capable of recycling over four million end-of-life tyres annually.
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Sibur starts work on 350 tonne per year n-Butyllithium plant
Petrochemicals company Sibur has commenced construction of Russia’s largest industrial facility for producing n-Butyllithium, a key catalyst used in the manufacture of thermoplastic elastomers and synthetic rubbers, such as the styrene-butadiene (SBR) rubbers utilised in tyre production. The use of n-Butyllithium also plays a key role in the production of butadiene (SKD-L) and thermoplastic elastomers (SBS). The aim of this project is to ensure technological independence when making these products while opening up opportunities for developing several sectors.
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Kumho Tire becomes Spotify artist
In what may well be a tyre industry first, Kumho Tire has debuted as a musical artist on Spotify. The Korean tyre maker proudly announces the release of its own song, which it says forges “a unique connection between mobility and music in an entirely new way.”
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Webfleet, Schmitz Cargobull offer integrated trailer telematics solution via OEM.connect programme
Bridgestone’s fleet management solution Webfleet is expanding its OEM.connect partner programme to trailers, collaborating with one of Europe’s leading trailer manufacturers on this service extension. Schmitz Cargobull, leading manufacturer of semi-trailers for temperature-controlled freight, general cargo and bulk goods in Europe, is factory-fitting the telematics hardware required to connect to Webfleet, eliminating the need for aftermarket hardware installations. This allows operators to access trailer data to boost utilisation, reduce downtime and improve overall safety and security.
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Strong sales Q3 sales and profit growth for Yokohama
For the first three quarters of 2024, The Yokohama Rubber Co. Ltd. reported sales revenue of ¥782,906 million (+13.1% year-on-year), and business and operating profit of ¥85,772 million (+63.8% YoY). Tire segment sales revenue totalled ¥701,243 million (+14.4% YoY), accounting for 89.6 per cent of Yokohama Rubber Group’s consolidated sales revenue.
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