Valeo launches AI global research centre
Valeo has launched the first global research centre in artificial intelligence and deep learning dedicated to automotive applications.
Continue Reading![Fintyre platform company acquires Reiff Reifen & Autotechnik](https://www.tyrepress.com/wp-content/uploads/2017/06/Reiff-Reifen-.jpg)
Fintyre platform company acquires Reiff Reifen & Autotechnik
Further consolidation has taken place within the tyre trade, and Germany’s Reiff Reifen und Autotechnik will soon be a sister company to Italian tyre wholesaler Fintyre. London-based platform European Tyres Distribution Ltd., parent company of Fintyre, has entered into a binding agreement with Germany’s Reiff Group to acquire its tyre and car technology business area.
Continue ReadingSTARCO sole tyre/rim supplier to Coachman caravan range
Mirroring the direction the car industry took a number of years ago, the rim of choice on today’s caravan is increasingly alloy. STARCO recently entered into a 100 per cent supply agreement with UK caravan manufacturer Coachman. Under the terms of the three-year deal, STARCO will supply tyres and alloy rims to the entire Coachman range.
Continue ReadingBekaert and ArcelorMittal close Sumaré deal
Bekaert and ArcelorMittal have integrated Bekaerts formerly wholly-owned steel cord subsidiary in Sumaré (Brazil) into the BMB (Belgo Mineira Bekaert Artefatos de Arame Ltda) partnership. In line with the shareholding structure of the BMB joint venture, ArcelorMittal has become the majority shareholder (55.5%) of the steel cord entity in Sumaré and Bekaert retains the remaining shares (44.5%).
Continue Reading![Delticom launches MobileMech business at Autopromotec](https://www.tyrepress.com/wp-content/uploads/2017/05/MobileMech6.jpg)
Delticom launches MobileMech business at Autopromotec
Here’s the basic idea: Whether you’re at home or at work, the MobileMech mobile tyre service comes directly to you. In other words Delticom has launched a mobile tyre fitting and light car maintenance business called MobileMech. The MobileMech concept is run through a subsidiary company Delticom eponymously calls MobileMech. In business terms the deal is a franchise/partnership model. It has been developed over a period of five years by a team of experts in order to “best meet the needs of customers and partners alike”, according to the company.
Continue Reading![Michelin cuts jobs in France and the US](https://www.tyrepress.com/wp-content/uploads/2017/06/Michelin-1.png)
Michelin cuts jobs in France and the US
Michelin has announced plans to significantly reorganise globally, resulting in significant job losses in France and the US most of which will be covered by natural attrition. In the United States 450 jobs in central functions are to be cut between 2018 and 2021. According to Michelin, 1,500 employees would actually leave the company in the same period, suggesting a large majority will result from natural attrition and retirement.
Continue ReadingPublic offer: Michelin, SIFCA looking to wholly acquire rubber producer SIPH
Acting in concert with Ivory Coast-based company SIFCA, Michelin has opened a simplified cash public tender offer through its 99.99 per cent-owned subsidiary Compagnie Financière Michelin SCmA (CFM) to acquire the 841,285 shares in natural rubber company Société Internationale de Plantations dHévéas (SIPH) not currently held by the two parties. Michelin states that it and SIFCA will pay 85 euros for each share in the West Africa-based rubber producer and marketer.
Continue ReadingNormal operations resume at Evonik’s C4 plant in Antwerp
According to a statement issued by chemical company Evonik Industries this week, its C4 integrated production facility in Antwerp site was successfully restarted earlier this month. It added that “thanks to the extraordinary performance of the operating team,” the facility was able to resume normal operation in mid-June.
Continue Reading![Continental to present diesel technologies at IAA](https://www.tyrepress.com/wp-content/uploads/2017/06/superclean-diesel-sml.jpg)
Continental to present diesel technologies at IAA
Rhetoric coming from some corners would have us believe that diesel cars are evil and electric vehicles are the way, the truth and the light. Yet the humble diesel and its petrol-driven cousin aren’t finished yet. Not by a long way. Growing global demand for mobility will see internal combustion engines remain with us for some time to come, hopefully long enough for the champions of electromobility to overcome the technology’s current drawbacks.
Continue ReadingEvonik signs new €1.75 billion syndicated credit facility
Evonik Industries AG has secured improved conditions through the refinancing of its existing syndicated credit facility with a group of 18 banks. The new credit facility with an unchanged volume of 1.75 billion euros has a term of five years, with the option of two extensions of one year each. It will end in 2024 at the latest.
Continue Reading![Wholesaler TTI sets up Reifen Kraftwerk for tyre distribution in Germany](https://www.tyrepress.com/wp-content/uploads/2017/06/Reifen-Kraftwerk-.jpg)
Wholesaler TTI sets up Reifen Kraftwerk for tyre distribution in Germany
Following the signing of an agreement with Sailun at the Tyrexpo Asia show in April, Tyre Trading International’s Peter-Alexander van ‘t Hof has set up a tyre distribution company in Germany. The Düsseldorf-based firm is called Reifen Kraftwerk GmbH (RKW) and has been established together with Oliver Wirt, who brings with him two decades of tyre industry sales experience, most recently for Euro Tyre in Germany. As of this month, Reifen Kraftwerk is supplying the German market from a warehouse in the Rhineland.
Continue Reading![Inventors awarded at Goodyear ceremony](https://www.tyrepress.com/wp-content/uploads/2017/06/goodyear-inventors.jpg)
Inventors awarded at Goodyear ceremony
Goodyear recently honoured 140 Goodyear engineers and associates at a ceremony in Luxembourg. The 39th patent award celebration in Mondorf-les-Bains was attended by numerous regional Goodyear leaders and opened by Bernd Kutsch, who is in charge of the Goodyear Innovation Centre Luxembourg patent department. Marc Hansen, Luxembourg’s Minister Delegate for Higher Education and Research, was guest of honour at the event.
Continue ReadingNizhnekamskshina: 8.8 million tyres made last year
At its recent annual shareholders’ meeting, the chief engineer of Russian tyre maker PJSC Nizhnekamskshina reported the company’s output for 2016. According to Aidar Belyaev, last year Nizhnekamskshina produced a total of 8,771,420 tyres.
Continue Reading![Bridgestone invests in proactive ride technology](https://www.tyrepress.com/wp-content/uploads/2017/06/clearMotion_PressRelease.jpg)
Bridgestone invests in proactive ride technology
Bridgestone Americas, Inc. has made a strategic investment in ClearMotion, Inc., a venture-backed technology company developing road sensing software and hardware that is said to dramatically improves ride performance in cars. As part of the investment, Bridgestone will have opportunities to integrate and leverage ClearMotion’s technology to rapidly engineer new solutions for the automotive industry. The USA-based Bridgestone subsidiary has not disclosed the amount it has invested in ClearMotion.
Continue Reading![Motor Dealer report pessimistic over profits and Brexit](https://www.tyrepress.com/wp-content/uploads/2017/06/MHA-Steve-Freeman.jpg)
Motor Dealer report pessimistic over profits and Brexit
The second annual MHA Motor Dealer report reveals a significant drop in optimism amongst UK motor dealers around the prospects for profitability in the sector this year. 76 per cent of dealers surveyed said they expected profits to drop or remain static for the year, that’s an increase of 20 per cent from 2016.
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