Kumho Asiana’s Park no longer interested in Kumho Tire share
Park Sam-koo won’t exercise his right of first refusal to acquire a stake in Kumho Tire. The Kumho Asiana Group chairman has described the Korea Development Bank’s decision to prevent him from funding the acquisition through formation of a consortium as “unfair,” and as a result Kumho Asiana has opted against participating in the sale of the 42.01 per cent shareholding.
Continue Reading![Chelsea FC players star in Yokohama short films](https://www.tyrepress.com/wp-content/uploads/2017/04/chelsea-willian.jpg)
Chelsea FC players star in Yokohama short films
The initial two in a series of short films released by Yokohama Rubber and featuring players from Chelsea FC have been released, and in the coming weeks a further three are coming to a social networking site near you. The five films are subtitled in English and Japan, and will be followed by German, French, Italian, Spanish, Portuguese, Arabic, Thai, Indonesian, Vietnamese, and Mandarin Chinese versions.
Continue Reading![Nexen Tire sponsoring Australian ‘A-League’ football club](https://www.tyrepress.com/wp-content/uploads/2017/04/nexen-melbourne-fc.jpg)
Nexen Tire sponsoring Australian ‘A-League’ football club
A new multi-year partnership with Melbourne City FC will give Nexen Tire branding presence on players’ uniforms. Initially the Nexen logo will appear on the Australian football club’s training kit as it goes into the 2017 Finals Series, and from the start of the 2017/18 season it will also be present on the men’s away kit sleeves. The sponsorship arrangement also covers Melbourne City’s women’s team, and provides Nexen with match day benefits including signage at the team’s home ground, player appearances and ticketing opportunities.
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C2C certification for Klean Industries’ pyrolysis plant
Canada-based gasification and pyrolysis waste conversion technologies provider Klean Industries Inc. shares that one of its facilities has become the world’s first tyre pyrolysis plant to receive Cradle to Cradle (C2C) certification. This C2C certification by McDonough Braungart Design Chemistry LLC follows a 12-month study of the Klean Industries production process and the end uses of the recycled carbon and oil products that derive from it.
Continue ReadingGoodyear to redeem $700M in senior notes
The Goodyear Tire & Rubber Company will redeem all of its outstanding US$700 million in principal amount of 7.0 per cent senior notes due 2022 on 15 May 2017. The redemption price will be 103.50 per cent of the principal amount of the notes being redeemed, plus accrued and unpaid interest to 15 May 2017. The tyre maker intends to use the net proceeds from its $700 million offering of 4.875 per cent senior notes due 2027, which closed 7 March together with current cash and cash equivalents, to fund the redemption.
Continue ReadingAeolus becomes Prometeon Tyre Group
On 13 April TP Industrial Holding – a company controlled by CNRC (the tyre division of ChemChina) – confirmed that agreements have been signed with CNRC, Aeolus and High Grade (HK) Investment Management Limited for the full integration of its controlled Industrial activities with the other assets of the sector belonging to CNRC, including Aeolus and Guilin Beili. The formal finalization of this integration is expected by the end of the year, subject to the approval by the relevant authorities, with the contribution into Aeolus of the 52 per cent stake held in Prometeon Tyre Group (formerly Pirelli Industrial).
Continue Reading![Pirelli’s flagship Burton Performance Centre shows what can be done with tyre retail](https://www.tyrepress.com/wp-content/uploads/2017/04/12941_05.jpg)
Pirelli’s flagship Burton Performance Centre shows what can be done with tyre retail
In Autumn 2016 Pirelli open the doors of a model Pirelli Performance Centre on the business park virtually next door the company’s UK headquarters in Burton-on-Trent. In mid-March Tyres & Accessories had an exclusive guided tour of the facility and found out more about what the incredibly modern and stylish centre offers and the strategy behind it.
Continue Reading![SD International building ‘tariff’ portfolio, well-placed to supply customers](https://www.tyrepress.com/wp-content/uploads/2017/04/meglio.jpg)
SD International building ‘tariff’ portfolio, well-placed to supply customers
Contract tyre manufacturing specialist SD International was present at Tyrexpo Asia with the Zeta range it first introduced in August 2016. Covering some 70 PCR, UHP and SUV sizes – with the portfolio growing to over 100 sizes in the second half of this year – these Zeta products are aimed at the USA and the ASEAN region.
Continue Reading![ZC Rubber still number one tyre manufacturer in China](https://www.tyrepress.com/wp-content/uploads/2017/04/cria.jpg)
ZC Rubber still number one tyre manufacturer in China
The latest CRIA data, which was released by Chinese tyre industry association CRIA on 12 April, shows that Zhongce Rubber Group (also known as ZC Rubber) remains the number tyre manufacturer in China in terms of income, with 2016 sales of 18.38 billion yuan (RMB). Giti Tire’s Chinese operation (Giti Tire [China] Investment Co., Ltd.) trails by more than 6 billion yuan, but is a clear second place with 13.14 billion yuan in 2016 ahead of Sailun Jinyu Group, which reported income of 11.19 billion yuan last year.
Continue Reading![Marangoni subsidiary a top Jungheinrich supplier](https://www.tyrepress.com/wp-content/uploads/2017/04/Jungheinrich.jpg)
Marangoni subsidiary a top Jungheinrich supplier
A key event at Jungheinrich’s suppliers’ day on 6 April was the presentation of the Jungheinrich Production Supplier Awards. The forklift truck manufacturer and materials handling equipment company honoured its leading suppliers in five key categories. Wenzel Industrie GmbH, a wholly-owned subsidiary of Marangoni Industrial Tyres S.r.l., was named one of two top suppliers in the ‘FG Components’ category.
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Future mobility: Continental opens Silicon Valley R&D centre
A new research and development centre that Continental opened in Silicon Valley yesterday will focus on future mobility solutions such as automated driving, electromobility, connectivity and mobility services. The 6,000-square metre facility in San José, California offers a working environment for up to 300 experts from all parts of the company.
Continue ReadingGoodyear declares common stock dividend
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 June 2017, to shareholders of record on 1 May 2017. The payout represents an annual rate of $0.40 per share.
Continue ReadingKumho Tire acquisition: problems on both sides
Park Sam-koo says he won’t acquire a controlling stake in Kumho Tire from creditors unless they provide a definitive answer on specific conditions of sale. In a statement, Kumho Asiana has given the Korea Development Bank until 17 April to do this, otherwise it will not exercise its right of first refusal.
Continue Reading![Full range gives Davanti more scope for new markets](https://www.tyrepress.com/wp-content/uploads/2017/04/tyrexpo-davanti-runflat-sml.jpg)
Full range gives Davanti more scope for new markets
The long-awaited Davanti winter range will soon be with us. When Tyres & Accessories caught up with the Davanti Tyres team at Tyrexpo Asia, they reported that final testing had been successfully concluded and volume production was scheduled to commence in June. After two years of development, four winter patterns – PCR, UHP, SUV and van – are now ready, with a total of 52 sizes to be released in 2017.
Continue ReadingZC Rubber making industrial tyres in Thailand; OTR, port tyre production to follow
The ZC Rubber factory in Thailand is gaining a new line for the production of industrial tyres. The Chinese manufacturer shares that skid steer, telehandler, backhoe and pneumatic cross-ply forklift tyres will join the plant’s production portfolio when the new line enters operation next month.
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