Goodyear sites in France, Belgium & Luxembourg raided
In an operation that French newspaper Le Monde describes as “both spectacular and unprecedented,” investigators from three European countries carried out a series of raids against Goodyear today. The publication writes that the prosecutor in Besançon, France confirms this action, which took place just two months shy of the tenth anniversary of a fatal motorway crash involving a Goodyear Marathon LHS II truck tyre.
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Service Long March partners investing to double capacity
Pakistan’s Service Industries Limited has announced an additional Rs 30 billion (£85.7 million) investment in Service Long March Tyres (Private) Limited (SLM), a joint venture with China’s Chaoyang Long March in which it, together with a subsidiary, holds a 51 per cent shareholding.
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Yokohama Rubber posts record sales, business profit & margin in Q1 2024
The Yokohama Rubber Co., Ltd., today disclosed its business and financial results for the first quarter of the fiscal year 2024. Sales revenue saw a year-on-year increase of 23.5 per cent between January and March 2024, amounting to ¥252.4 billion (£1.3 billion); business profit rose by 91.0 per cent, reaching ¥24.9 billion (£127.4 million); operating profit surged by 102.6 per cent, to ¥26.8 billion (£137.2 million); and profit attributable to owners of parent escalated by 104.0 per cent, to ¥19.8 billion (£101.4 million).
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Delphi Academy announces major expansion plan
To meet the evolving requirements of workshops in the UK, Delphi is investing half a million pounds in a “significant expansion” of the Delphi Academy. The Warwick-based centre will double in size, bringing total floorspace to 1,430 square metres.
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Yokohama Rubber boosting motorsport tyre capacity at Mishima plant
The Yokohama Rubber Co., Ltd. plans to expand production capacity for motorsport tyres at its Mishima facility in Japan’s Shizuoka Prefecture. Yokohama Rubber will invest about ¥3.8 billion (£19.4 million) in a new line that will produce 18-inch and larger motorsports tyres, expanding the plant’s capacity for motorsports tyres by 35 per cent.
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Goodyear Blimp returns to European skies from new base
“A new era” began at Mülheim/Essen Airport in Germany towards the end of last week with the launch of the new Goodyear Blimp/Zeppelin season from a new location. Zeppelin NT, hangar operator WDL Group, and the tyre maker, represented by Frank Titz, Goodyear’s general manager of replacement consumer sales in the DACH (Germany, Austria & Switzerland) region, invited media and local dignitaries to welcome the airship and inaugurate the first flights over the Ruhr region.
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Bridgestone net profit down 4.3% in Q1 2024, FY forecast unchanged
Bridgestone Corporation has announced its consolidated financial results for Q1 2024, with net profit down 4.3 per cent year-on-year to ¥86,602 million (£443.58 million). The company has not altered its net profit forecast for the full year ending 31 December 2024, with net profit expected to increase by 8.4 per cent year-on-year to ¥359 billion (£1.84 billion).
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Genan: “Back on track” in 2023 following “annus horribilis”
Danish firm Genan, the worlds largest mechanical tyre recycling group, achieved a turnover of €58.7 million in 2023. This represents a seven per cent decrease compared to the previous year. However, despite the lower turnover, the company increased its EBITDA by over 50 per cent to almost €9.4 million, while operating profit (EBIT) multiplied from just over €750,000 to €3.2 million. Net profit, influenced negatively by exchange rate fluctuations, increased from €1.5 to €2 million.
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Maxion Wheels partners to bring scholarship programme to India
Maxion Wheels, a global leader in wheel manufacturing for various automotive sectors, has announced an initiative in collaboration with the Brazil-based Iochpe Foundation and India’s Savitribai Phule Pune University. The partners are introducing the foundation’s Formare academic scholarship programme, well-established in Brazil and Mexico, into India.
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Pirelli outperforms expectations in Q1 2024 results, pointing to better Q2
Financial analysts have said Pirelli’s first quarter 2024 results feature “strong sales”, which outperformed consensus estimates by 1 per cent. During the same period pre-tax profits (adjusted earnings before interest and taxes [EBIT] outperformed expectation at twice that rate [+2 per cent compared with the analysts consensus].
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White Paper throws spotlight on CV tyres
Continental has published a White Paper exploring the basic structure, technical background and overall landscape of the commercial vehicle tyre market. Published in full colour and available as a digital download, the 40-page White Paper “offers extensive information on the fundamentals of tyre design, tyre development and tyre production.”
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Pirelli reports stable revenues, high-value segment growth in Q1 2024
At a meeting held yesterday, the Board of Directors of Pirelli & C. Spa approved the company’s financial results to 31 March 2024. Pirelli says these results show a “solid operating performance” thanks to the implementation of “key programs” within the framework of its Industrial Plan, as outlined below.
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Point S emphasises NI unity
Point S Tyre & Autocare shares that it is enjoying continued success in Northern Ireland thanks to its eight members, who all “embody the core values of the UK’s leading independent tyre dealer and car maintenance network.” It praises all eight for fortifying Point Ss presence in Northern Ireland while bolstering individual business growth, a balance that results in a “close-knit working relationship.”
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Prometeon-branded tyres launched in Egypt
Prometeon Tyre Group has unveiled its first Prometeon-branded tyres – the Serie 02 – at a special ceremony in the shadow of the Giza pyramids in Egypt. According to the company, an intensive R&D programme saw 6,000-plus tyres tested and more than 200 million kilometres covering all climatic and road conditions. The Prometeon-branded Serie 02 tyres will initially be produced at the company’s Alexandria plant and made available to markets in Egypt, other Middle East nations and Africa. The new tyres will be distributed in Europe, including the UK, by the end of 2024.
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Durham University take on European Solar Challenge on Bridgestone tyres
They were the first UK team to complete the 3,000km Bridgestone World Solar Challenge in six days and finished 11th out of 38 teams overall, but now they are taking a completely separate vehicle called ‘Ortus-T’ to the iLumen European Solar Challenge (iESC), which starts on 21 September 2024.
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