![Hankook Tire: 2023 “best ever” financial result](https://www.tyrepress.com/wp-content/uploads/2023/08/Hankook-placeholder-1.jpg)
Hankook Tire: 2023 “best ever” financial result
With sales of KRW 8,939.6 billion (£5.3 billion) and an operating profit of KRW 1,327.9 billion (£783.5 million), in 2023 Hankook Tire & Technology achieved the “best performance since its establishment.” Sales were up 6.5 per cent year-on-year, while operating profit increased 88.1 per cent. According to Hankook Tire, these results “solidify” the company’s position as a “prominent, top-tier global brand.”
Continue Reading![ZC Rubber sheds further light on Indonesia factory plan](https://www.tyrepress.com/wp-content/uploads/2024/02/ZC-Rubber-indonesia-scaled.jpg)
ZC Rubber sheds further light on Indonesia factory plan
Zhongce Rubber Group Co., Ltd (ZC Rubber) has officially confirmed its intention to establish a new tyre factory in Indonesia. Located within the Kendal Industrial Park near Semarang, in Central Java, the production base will cover an area of 500,000 square metres. ZC Rubber expects construction to be completed within a period of 10 months.
Continue Reading![Goodyear appoints Greg Shank as senior IR director](https://www.tyrepress.com/wp-content/uploads/2024/02/greg-shank-20240201-scaled.jpg)
Goodyear appoints Greg Shank as senior IR director
The Goodyear Tire & Rubber Company has named Greg Shank as senior director of Investor Relations (IR). He reports to Christina Zamarro, executive vice president and Chief Financial Officer (CFO).
Continue Reading![Bridgestone wins design rights lawsuit in China](https://www.tyrepress.com/wp-content/uploads/2024/02/Ecopia-Hawk.jpg)
Bridgestone wins design rights lawsuit in China
The Supreme People’s Court of the People’s Republic of China has ruled in favour of Bridgestone Corporation in a lawsuit against Shandong Hawk International Rubber Industry Co., Ltd. (Hawk Tyre). Bridgestone had alleged that the Chinese manufacturer infringed its tyre tread design rights.
Continue Reading![Leading tyremaker stocks down 2.35% as EC antitrust case opens](https://www.tyrepress.com/wp-content/uploads/2024/02/Manufacturer-share-prices-5-day.png)
Leading tyremaker stocks down 2.35% as EC antitrust case opens
The share prices of Bridgestone, Continental, Goodyear, Michelin, Nokian and Pirelli were down by an average of 2.35 per cent following the news that the European Commission has started an antitrust investigation within the European Union.
Continue Reading![Goodyear TruckForce Award for McConechy’s](https://www.tyrepress.com/wp-content/uploads/2024/02/Goodyear-McConechys-sml.jpg)
Goodyear TruckForce Award for McConechy’s
McConechy’s Tyres Coatbridge has gained a Goodyear TruckForce Award, an accolade that “recognises the exceptional service provided by TruckForce partners on a quarterly basis.” Goodyear honoured McConechy’s, which is part of Halfords Commercial Fleet Services, for its dedication and professionalism.
Continue Reading![Continental puts the future on the road, transferring sustainable concepts into production tyres](https://www.tyrepress.com/wp-content/uploads/2024/01/continental_pp_ultracontact_nxt-scaled.jpg)
Continental puts the future on the road, transferring sustainable concepts into production tyres
Continental is styling itself as a “pioneer in innovation” by accelerating the evolution of its sustainability concepts into production tyres. The manufacturer is using silica from rice husk ash, carbon black from end-of-life tyres, and polyester from recycled PET in series tyres already, backing up head of sustainability Jorge Almeida’s maxim that “Sustainable innovations belong on the road and not in a showroom.” The UltraContact NXT car tyre, launched in 2023, is the current apex of this strategy, its most sustainable production tyre to date. Conti innovated the use of silica from agricultural waste, polyester from recycled PET and other renewable and recyclable materials from 2021 with the Conti GreenConcept concept tyre. Many of these technologies have subsequently been used in its series tyres. Overall, Conti says this underscores its claim to be “the most progressive manufacturer in the tyre industry when it comes to sustainability.”
Continue Reading![Leading European tyremakers investigated as part of price-fixing investigation](https://www.tyrepress.com/wp-content/uploads/2024/01/audit-4190944_1920.jpg)
Leading European tyremakers investigated as part of price-fixing investigation
Unannounced inspections, investigations, visits, raids. Whatever you call them, having the European Commission come knocking uninvited is not how any tyre manufacturer wants to start 2024. Nevertheless, that is exactly what happened at the tail-end of January across “several member states” within the European Union.
Continue Reading![Continental consolidates tyre warehousing at Czechia tyre plant](https://www.tyrepress.com/wp-content/uploads/2024/01/continental_pp_warehouseotrokovice_1-sml.jpg)
Continental consolidates tyre warehousing at Czechia tyre plant
As part of measures to centralise warehousing in the local area, Continental has officially opened a fully automated high-bay warehouse at the site of its tyre production plant in Otrokovice, Czech Republic. This 10,000 square metre, 43-metre-high facility – approximately as tall as the Statue of Liberty – has the capacity to store more than 930,000 tyres.
Continue Reading![Michelin confirms it has been investigated in EC antitrust case](https://www.tyrepress.com/wp-content/uploads/2023/03/michelin-sign-logo-sml.jpg)
Michelin confirms it has been investigated in EC antitrust case
Following the news that the European Commission has opened a price-fixing investigation across “several member states”, Michelin has officially confirmed that it too has been investigated as part of EC antitrust case. Nokian, Goodyear, Continental, Pirelli and Bridgestone have also been investigated as part of the EC case.
Continue Reading![ETRMA not subject to EC inspection](https://www.tyrepress.com/wp-content/uploads/2024/01/LOGO_ETRMA-sml.jpg)
ETRMA not subject to EC inspection
Yesterday the European Commission announced it was “carrying out unannounced inspections at the premises of companies active in the tyres industry in several Member States.” So far, we’ve learned that Bridgestone, Continental, Goodyear, Michelin, Nokian Tyres, and Pirelli received visits from EC officials.
Continue Reading![European Commission ‘conducting antitrust inspection’ at Bridgestone](https://www.tyrepress.com/wp-content/uploads/2023/10/Bridgestone-placeholder2-sml-scaled.jpg)
European Commission ‘conducting antitrust inspection’ at Bridgestone
Bridgestone joined four other manufacturers in confirming to Tyrepress that it has been part of the European Commission’s series of unannounced inspections at tyre makers active within several European Union member states. A representative told Tyrepress: “Bridgestone can confirm that the European Commission is conducting an inspection at its European Headquarters. As a responsible company that is committed to fair practices and transparency, Bridgestone is fully cooperating.”
Continue Reading![Pirelli confirms EC antitrust inspectors visit](https://www.tyrepress.com/wp-content/uploads/2020/04/pirelli-flag.jpg)
Pirelli confirms EC antitrust inspectors visit
Pirelli has confirmed that it is among the tyre manufacturers in European Union member states receiving an unannounced visit from European Commission investigators today, according to Tyrepress sister site PneusNews. The EC is concerned that companies producing replacement market tyres for cars, vans, trucks and busses may have “violated EU antitrust rules that prohibit cartels and restrictive business practices.” A Pirelli spokesperson said the company “has always acted in total compliance with all rules and regulations,” adding that “it is guaranteeing full support” to investigators.
Continue Reading![European Commission investigators make unannounced inspection at Continental](https://www.tyrepress.com/wp-content/uploads/2024/01/Conti-HQ.jpg)
European Commission investigators make unannounced inspection at Continental
The European Commission’s unannounced inspections at European tyre company premises today included Continental. The Hanover, Germany based manufacturer said, “We can confirm that as of today investigations by European antitrust authorities are taking place at Continental in Germany.” A representative added that the company could not comment further on an ongoing investigation. The EC is investigating concerns of price coordination on new replacement tyres for passenger cars, vans, trucks and busses sold in the European Economic Area.
Continue Reading![EC launches tyre industry antitrust investigation in “several member states”](https://www.tyrepress.com/wp-content/uploads/2019/01/European_Commission_flags-2.jpg)
EC launches tyre industry antitrust investigation in “several member states”
The European Commission is carrying out unannounced inspections at the premises of companies active in the tyre industry “in several “member states”. The reason? “The commission has concerns that the inspected companies may have violated EU antitrust rules that prohibit cartels and restrictive business practices”, according to an official statement. So far, Nokian Tyres, Continental, Goodyear, Pirelli, and Bridgestone have confirmed they have received an unannounced inspection.
Continue Reading