![Ikon Tyres to complete Nokian rebranding by Spring 2024](https://www.tyrepress.com/wp-content/uploads/2024/01/Ikon-range.jpg)
Ikon Tyres to complete Nokian rebranding by Spring 2024
Russian motorists can still purchase Nokian tyres, but the brand’s days are numbered in this market. After energy company Tatneft acquired Nokian Tyres’ local assets, it renamed the operation Ikon Tyres and began producing tyres under the Ikon name in June 2023. Ikon Tyres says the process of updating tyre sidewall moulds has taken several months, but it started the volume production of rebranded summer tyres in December. This means that all products that dealers sell from Spring 2024 will carry the Ikon name instead of Nokian.
Continue Reading![Hankook takeover bid fails](https://www.tyrepress.com/wp-content/uploads/2023/08/Hankook-placeholder-1.jpg)
Hankook takeover bid fails
Christmas is a time of togetherness with kinsfolk, but not if you’re a member of Hankook’s Cho family. On December 25, efforts by private equity firm MBK Partners – in collaboration with three Cho siblings – to acquire a controlling stake in Hankook & Company failed after MBK’s tender offer secured insufficient subscriptions.
Continue Reading![JK Tyre raises £47 million through QIP](https://www.tyrepress.com/wp-content/uploads/2020/10/59_QWJzdHJhY3QgYmFja2dyb3VuZCB3aXRoIGVhcnRoLmpwZw-scaled-e1602237450291.jpg)
JK Tyre raises £47 million through QIP
India’s JK Tyre & Industries Limited has successfully concluded its fund-raising plans of Rs 5 billion (£47.2 million) by way of Qualified Institutional Placement (QIP). The tyre maker will utilise funds gained through the QIP for capital expenditure projects and to strengthen its balance sheet.
Continue Reading![5 Series & E-Class – tyre twins?](https://www.tyrepress.com/wp-content/uploads/2023/12/BMW-Merc-sml.jpg)
5 Series & E-Class – tyre twins?
Vehicle manufacturers typically demand customised tyres for their cars. To denote this exclusive tailoring, tyres that are approved or factory fitted as original equipment display a special marking on the sidewall. The best-known of these OE tyre designations include those for Porsche (N0, N1, ...), BMW (*) and Mercedes (MO), although other brands, from Alfa Romeo to Volvo, also have their own individual sidewall marking. We recently became aware of something new that flies – at least in part – in the face of this concept of original equipment tyres specially tailored to a specific vehicle model.
Continue Reading![MBK Partners ups Hankook bid](https://www.tyrepress.com/wp-content/uploads/2023/08/Hankook-placeholder-1.jpg)
MBK Partners ups Hankook bid
MBK Partners, a private equity firm in Asia, has increased its offer to buy a controlling stake in Hankook & Company, the parent company of Hankook Tire & Technology Ltd. On 17 December, MBK Partners raised its offer to acquire a minimum of 20.35 per cent and a maximum of 27.32 per cent of Hankook & Company by 20 per cent. The revised price now stands at 24,000 won ($18.40) per share, up from the initial offer of 20,000 won. The price is 51.4 per cent higher than the firm’s closing price of 15,850 won on Friday.
Continue Reading![DJSI World & Asia Pacific renew Bridgestone listings](https://www.tyrepress.com/wp-content/uploads/2023/10/Bridgestone-placeholder2-sml-scaled.jpg)
DJSI World & Asia Pacific renew Bridgestone listings
Bridgestone Corporation has once again been selected for inclusion in the Dow Jones Sustainability World Index (DJSI World). This is the second consecutive year Bridgestone has appeared in the globally recognised sustainability index and the fifth occasion in total.
Continue Reading![Mexico plant a “strategic expansion” for Sailun](https://www.tyrepress.com/wp-content/uploads/2023/09/sailun-placeholder.jpg)
Mexico plant a “strategic expansion” for Sailun
Sailun Group has confirmed plans to build a joint venture factory in Mexico. In a statement, Sailun Tire Americas describes the decision to establish the plant as a “strategic move” aimed at enhancing Sailun’s production capabilities and streamlining the supply chain to provide customers with “even better service and more efficient delivery of our products.” It further calls this “strategic expansion” a “significant milestone in the companys commitment to innovation, efficiency, and global growth.”
Continue Reading![Bridgestone joins Continental & Cordiant within Russia’s S8 Capital](https://www.tyrepress.com/wp-content/uploads/2023/10/Bridgestone-placeholder3.jpg)
Bridgestone joins Continental & Cordiant within Russia’s S8 Capital
After receiving all regulatory approvals, the sale of Bridgestone’s Russian assets to S8 Capital has been completed. Bridgestone Europe NV/SA has transferred its tyre manufacturing facility in Ulyanovsk and sales and marketing office in Moscow to the investment company. Thus ends a relationship with Russia that began in 1998.
Continue Reading![Energy costs too high – Versalis closing UK plant](https://www.tyrepress.com/wp-content/uploads/2020/10/tlo_biz83a-scaled-e1602237521703.jpg)
Energy costs too high – Versalis closing UK plant
Versalis has decided to permanently close its Grangemouth chemicals plant in Scotland due to a significant downturn in demand for elastomers. This announcement came a month after Petroineos, owner of the Grangemouth oil refinery, confirmed it would cease operations in 2025.
Continue Reading![GRI wins three business awards in Sri Lanka](https://www.tyrepress.com/wp-content/uploads/2023/12/CIMA.jpg)
GRI wins three business awards in Sri Lanka
GRI has been acknowledged among Sri Lankas top companies, securing an Honourable Mention at the Most Admired Companies of Sri Lanka 2022 ceremony. Organized by AICPA & CIMA, ICCSL and Daily FT, this awards program recognizes organizations that not only thrive but also add significant value to shareholders, customers, employees, and the environment.
Continue Reading![‘Strategic player’ Dunlop to cover 84% of value segment market](https://www.tyrepress.com/wp-content/uploads/2023/12/goodyearbrands-202312-sml.jpg)
‘Strategic player’ Dunlop to cover 84% of value segment market
Goodyear Tire & Rubber has further confirmed its brand strategy for the coming years, the so-called “redefined roles” for Dunlop, Avon and Cooper, amongst others. The company has de-premiumised Dunlop in anticipation of growth within tiers 2 and 3 of the tyre market in the next half-decade at the expense of tier 1.
Continue Reading![Yokohama Rubber restructures Vietnam business for growth](https://www.tyrepress.com/wp-content/uploads/2020/10/59_QWJzdHJhY3QgYmFja2dyb3VuZCB3aXRoIGVhcnRoLmpwZw-scaled-e1602237450291.jpg)
Yokohama Rubber restructures Vietnam business for growth
The Yokohama Rubber Co., Ltd. has spun off the sales unit of its Vietnam tyre production and sales subsidiary, Yokohama Tyre Vietnam Inc. (YTVI), into a new dedicated sales company. Yokohama Tyre Sales Vietnam Co., Ltd. will begin operations as an independent entity on 1 January 2024 with its headquarters in Ho Chi Minh City. YTVI will become a dedicated tyre production company.
Continue Reading![Apollo R&D chief advisor named ‘Sustainability Professional of the Year’](https://www.tyrepress.com/wp-content/uploads/2023/12/PKM-Award-scaled.jpg)
Apollo R&D chief advisor named ‘Sustainability Professional of the Year’
P K Mohamed, chief advisor, R&D, Apollo Tyres Ltd has been lauded as ‘Sustainability Professional of the Year’ at the 10th edition of the World Sustainability Leadership Awards 2023. The accolade was conferred upon Mr Mohamed at a gala event held recently in Mauritius.
Continue Reading![Sailun enters JV for Mexico tyre plant](https://www.tyrepress.com/wp-content/uploads/2023/09/sailun-placeholder.jpg)
Sailun enters JV for Mexico tyre plant
Sailun Group is partnering to build a new factory in Mexico. Through its wholly owned subsidiary Sailun International Holding (Singapore) Pte. Ltd., the Chinese firm signed a joint venture agreement with TD International Holding and Sapide CV (TD Mexico) on 15 December. The partners will build a facility capable of producing 6 million semi-steel radial tyres annually and are also considering the future establishment of capacity to produce 1.65 million all-steel radials a year.
Continue Reading![Kyoto Japan, the swiss-Japanese tyre and retail brand with a distribution centre in the UK](https://www.tyrepress.com/wp-content/uploads/2023/12/Kyoto-Quick-Service-exterior-260820.jpg)
Kyoto Japan, the swiss-Japanese tyre and retail brand with a distribution centre in the UK
Kyoto, Japan is clearly a place in the land of the rising sun. But what about the tyre brand of the same name? Kyoto Japan the tyre brand is a Japanese-Swiss group of companies specialized in design, manufacture and marketing of Kyoto Japan tyres, tubes, batteries and lubricants.
Continue Reading