“Solid results in the midst of challenging market conditions” – Titan International’s Q1 2024
Titan International, Inc. has reported financial results for the quarter ending 31 March 2024. Results for Q1 2024 include approximately one month of results from the 29 February 2024 acquisition of Carlstar Group LLC. Net sales decreased 12.1% year-on-year, to US$482.209 million, and net income attributable to Titan and applicable to common shareholders was down 71.1%, to $9.201 million.
Continue Reading
Sailun sets sights on 100% sustainable material usage by 2050
Yuan Zhongxue, director of the National Engineering Research Center for Rubber and Tire and honorary chairman of the Sailun Group, announced sustainable development goals (SDGs) for the tyre maker during the recent 2024 China Rubber Conference. The SDGs aim to progressively increase the utilisation of sustainable materials in tyre production, targeting 40 per cent by 2030 and striving for 100 per cent by 2050. Additionally, Sailun aims to reduce per tyre energy consumption and carbon emissions by 30 per cent, compared to 2022 levels, by 2030.
Continue Reading
Continental a main sponsor & official tyre supplier of the Giro d’Italia 2024
Continental is continuing to expand its cycle racing sponsorship remit. The Tour de France is set to begin on 29 June, and before then the company will step up as the official tyre partner and one of the five main sponsors of this year’s Giro d’Italia, which gets under way this coming Saturday.
Continue Reading
Tire Cologne: Making a European exhibition of the tyre business
Running from 4-6 June, The Tire Cologne 2024 is rapidly approaching and, considering the last edition of the event was the first to take place in the post-Covid world, many in the wider European tyre business see the chance to meet together again now as more important as ever. With that in mind, we have devoted roughly a quarter to the May issue of Tyres & Accessories to previewing the products and services on offer at the event (see page 35 onwards).
Continue Reading
Nokian Tyres elects board members at 2024 AGM
Nokian Tyres’ annual general meeting elected Jukka Hienonen as chair of the board of directors and Pekka Vauramo as deputy chair among other appointments. At the AGM, the Nokian Tyres board appoints from among its members a minimum of three Committee members, one of which acts as the chair of the Committee. Meetings are also attended by the company’s CEO and CFO and the person acting as secretary appointed by the committee. The board also decided to establish the Boards Investment Committee, a group focusing on strategic investments to maximise shareholder value. The board also elected members to its People and Sustainability Committee, Audit Committee, and Investment Committee.
Continue Reading
Bush Tyres opens new Wakefield depot
BA Bush & Son has opened a new commercial depot in Wakefield. BA Bush says it will invest significantly in new mobile tyre fitting technologies and vans based at the new site to deal with the growing number of agricultural and commercial fleet customers who live in and around Wakefield. The depot is backed by the company’s tyre distribution arm, BAB Distribution, and will link up strategically with the company’s existing network of branches. With nearby branches in Rotherham, Knaresborough and Goole, this group can serve the thousands of businesses and farmers who live and work in that catchment area.
Continue Reading
Latest Hella webinar to cover e-mobility
Hella’s next free webinar will cover the future of e-mobility. It will be available from 6 May, with registration open now. The 30-minute session will be hosted on Hella Tech World. It will cover battery regulation and provide an overview on the EV market, showing where current trends are likely to lead. On the practical side, technicians will learn how to improve their battery and OE expertise.
Continue Reading
Cimcorp appoints new VP
Cimcorp has added Anne Happonen to its executive leadership team, as part of her appointment vice president of operations. Happonen’s experience includes responsibilities with Cargotec, Sandvik, and Patria where she has had “a strong hold on global megaprojects and leading diverse teams”.
Continue Reading
Hankook Tire – operating profit up 109% in Q1 2024
Hankook Tire & Technology has disclosed its financial performance for the first quarter of 2024, reporting sales of KRW 2,127.2 billion (£1.2 billion) and an operating profit of KRW 398.7 billion (£230.8 million) based on global consolidated financial results. Year over year, sales saw a modest increase of 1.1 per cent, while operating profit surged by 108.8 per cent.
Continue Reading
Tyre News in Numbers – April 2024
Tyres & Accessories’ monthly ‘Tyres News in Numbers’ column boils down the latest tyre industry news to the most important statistics of the month. Below, we look at the big numbers from the April 2024 magazine.
Continue Reading
Remember This? – April 2024
Our monthly magazine column looks back at the biggest news events from the tyre industry five, 10, 15 and 20 years ago. This months edition looks back to April issues from 2004, 2009, 2014, and 2019 for some of the biggest tyre industry news of those months. Click the month and year to access the digital edition of the relevant issue of the magazine from Tyres & Accessories’ expanding digital archive.
Continue Reading
Sailun bringing Road to Cologne 2024 tour to UK
For the Sailun Group, the weeks between now and the start of The Tire Cologne on 4 June 2024 will be occupied by its Road to Cologne 2024 event. Sailun will visit six key markets in the coming weeks to help its European dealer network get better acquainted with its range, including products boasting the latest EcoPoint3 technology.
Continue Reading
Apollo Tyres partners on EV tyre cut & chip test track
Apollo Tyres has announced a “significant partnership” with India’s National Automotive Test Tracks (NATRAX), one of the country’s leading providers of testing and validation services. The partners are establishing a test track for validating electric vehicle tyres and low rolling resistance tyres. According to Apollo Tyres, this dedicated testing facility for EV manufacturers is the first of its kind in India.
Continue Reading
GS Yuasa welcomes Wayne Stevens as new managing director
Wayne Stevens has been named as managing director of GS Yuasa Battery Sales UK. The company says he brings with him a wealth of business and leadership experience across different market sectors and his background positions him as an ideal leader to drive GS Yuasa Battery Sales UK Ltd. forward in its continued pursuit for growth and innovation.
Continue Reading
Thailand factory supports most of Linglong’s profits in 2023
Linglong’s revenue in 2023 exceeded 20 billion yuan, and its net profit was close to 1.4 billion yuan. The tyre manufacturer produced 79.117 million tyres throughout the year, an increase of 20.4 per cent year-on-year. Among them, semi-steel tyres increased by 19.20 per cent, all-steel tyres increased by 30.79 per cent, and bias tyres decreased by 6.19 per cent.
Continue Reading
