Reifen Gundlach and Volvo sign contract for winter wheel supply
Under a long-term aftermarket arrangement with Volvo Car Corporation, German tyre wholesaler Reifen Gundlach GmbH will supply complete wheel units fitted with winter tyres within the Central European and Nordic markets. The Pon Holding company will begin shipping the wheels in January 2018.
Continue ReadingBridgestone named to two MSCI indices
Two of the newest Environment, Society and Governance (ESG) indices developed by investment research firm MSCI recognise Bridgestone Corporation for its commitment to corporate social responsibility. The tyre and rubber products manufacturer features on both the MSCI Japan ESG Select Leaders Index and the MSCI Japan Empowering Women Index (WIN).
Continue ReadingAbu Dhabi firm invests in Nexen Tire, signs MoU
Abu Dhabi-based investor Mubadala Investment Company has Nexen Tire on its radar, and this has led to the signing of a Memorandum of Understanding between the two firms. According to Nexen Tire, the agreement its chief executive officer Travis (Ho-chan) Kang formalised yesterday with Khaldoon Khalifa Al Mubarak, Mubadala’s managing director and group chief executive officer, sets out ways and means for both parties to “explore strategic partnership opportunities.” Mubadala has directly invested into Nexen as part of the agreement, however so far the tyre maker hasn’t disclosed the extent of this investment.
Continue ReadingGT Radial moves from exclusive to multiple car tyre distribution in Germany
An open relationship after 22 years of monogamy: German wholesaler Reifen Gundlach has lost exclusive distribution of the GT Radial passenger car tyre range in Germany. Although remaining a close bedfellow of brand owner Giti Tire, from the start of the coming winter season it will share this bed with three other wholesalers.
Continue ReadingCreditors, Doublestar Tire receive final offer for use of Kumho brand name
Negotiations over the use of the Kumho brand name are drawing to a conclusion, with Park Sam-Koo and the board of Kumho Industrial Co. announcing their final offer following a meeting yesterday. This offer centres on the payment of 0.5 per cent of Kumho Tire’s sales in brand royalties for 12.5 years and a clause ensuring that Doublestar uses the Kumho name for the entire period.
Continue ReadingPCR capacity at SRI’s Hunan, China plant to treble
According to a news report from Japan, production capacity at the Sumitomo Rubber (Hunan) Co. Ltd passenger car tyre plant in Changsa, China will treble by 2020. Nikkei Asian Review writes that Sumitomo Rubber Industries will invest some 30 billion yen (£205 million) in its subsidiary to increase daily output from 20,000 to 60,000 pieces. The publication adds that the company aims for a daily capacity of 100,000 passenger car tyres in China, an amount that anticipates growing demand for fuel-saving tyres.
Continue ReadingTyre production ends in Goodyear’s Philippsburg plant
In May, Goodyear Dunlop Tires Germany stated it would cease production at its Philippsburg car and light commercial vehicle tyre factory by the end of July. The end came a fortnight before this self-imposed deadline. The last regular shift within the plant went to work last Friday – employee union BCE comments that production ended earlier than planned due to “a labour shortage.”
Continue ReadingBorbet enlarging toolmaking facility at main plant
Alloy wheel manufacturer Borbet has announced plans to expand its main factory in Hallenberg-Hesborn, Germany to accommodate an enlarged in-house toolmaking facility. A 1,130-square metre hall will be erected alongside the existing toolmaking centre; Borbet says the hall will be built by the end of September, and the entire project completed by the start of 2018 at the latest.
Continue ReadingFalken Tyre becomes Liverpool FC partner
Liverpool FC has a new global partner and official tyre partner. Following the end of its arrangement with Maxxis, which began in 2009 and concluded at the end of the 2016/17 season, the club has entered into a multi-year collaboration with Falken Tyre.
Continue ReadingAcquisition ugliness: Kumho Tire execs threaten mass resignation
Qingdao Doublestar Tire’s bid to acquire 42.01 per cent of South Korean tyre maker Kumho Tire is developing into a drama of the sort not witnessed since a stubborn Cooper Chengshan Tire helped derail Apollo Tyres’ purchase of Cooper Tire & Rubber. Business Korea writes today that 41 Kumho Tire executives, including chief executive officer Lee Han-seob, intend to resign should Kumho Tire’s creditors sell the share to Doublestar.
Continue ReadingTyrepac enters the Thai market
Tyrepac reports that it has launched Thailand’s first online tyre portal together with Toyota Group member Toyota Tsusho and Bangkok-based automotive supplier Manoyonchai Co. Ltd.
Continue ReadingGoodyear Declares Dividend on Common Stock
Directors of The Goodyear Tire & Rubber Company have declared a quarterly dividend of US$0.10 per share of common stock. The dividend is payable 1 September 2017 to shareholders of record on 1 August 2017. The payout represents an annual rate of $0.40 cents per share.
Continue ReadingLinglong Tire partners in China’s first 3D printed tyre project
Joint developmental work between Shandong Linglong Tire and the Beijing University of Chemical Technology recently bore fruit with the successful production of 3D printed polyurethane tyres. The tyre maker comments that this 3D tyre printing is a first in China.
Continue ReadingContinental awards top Automotive Group suppliers
At its 2017 Supplier Day, Continentals Automotive Group honoured 15 companies with Supplier of the Year awards for their performance during the 2016 production year. Contenders from the more than 2,700 series suppliers whose components Continental used last year were evaluated in the 15 category awards for quality, technology, costs and purchasing conditions and logistics. The category winners were awarded by Dr Elmar Degenhart, chairman of Continental AG’s Executive Board, and Günter Fella, head of purchasing at Continental Automotive.
Continue ReadingAutomated driving solution three years away – Continental
Welcome to the future of driving, your Cruising Chauffeur awaits. That’s the name Continental has given its eagerly-awaited automated driving technology, and regardless of how it rolls off the tongue, Cruising Chauffeur represents something that will significantly change our driving experience. Continental plans to bring Cruising Chauffeur into production in 2020.
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