![ChemChina acquires share in Mercuria](https://www.tyrepress.com/wp-content/uploads/2016/01/ChemChina-Signing.jpg)
ChemChina acquires share in Mercuria
It recently acquired Pirelli and KrausMaffei, and China National Chemical Corporation has now purchased a stake in Mercuria Energy Trading, an integrated energy and commodities company with a (2014) turnover of US$106 billion. The Chinese chemical company has taken a 12 per cent share in the shareholding structure of Mercuria.
Continue ReadingGoodyear declares dividend on common stock
Directors of The Goodyear Tire & Rubber Company have declared a quarterly dividend of US$0.07 per share of common stock. The dividend is payable 1 March 2016 to shareholders of record on 1 February 2016. The payout represents an annual rate of $0.28 per share.
Continue Reading![MRF considering European car tyre import options](https://www.tyrepress.com/wp-content/uploads/2016/01/IMG_5407-e1452867695315.jpg)
MRF considering European car tyre import options
Not only has leading Indian tyre maker MRF Tyres, launched its MRF Motorsport Tyres Europe operation during Autosport International 2016, the firm is also considering importing its passenger car tyres into Europe in the years to come. While MRF has been exporting to between 60 and 70 countries worldwide for some time now the majority of these are in Asia, with others in the Middle East, Africa and South America. A few speciality products aside, MRF hasn’t really been exporting to Europe before now.
Continue Reading![Camso gains Toyota SEQCD award](https://www.tyrepress.com/wp-content/uploads/2016/01/camso.jpg)
Camso gains Toyota SEQCD award
Camso, formerly known as Camoplast Solideal, reported this week that it is a recipient of a 2014 Toyota Safety, Environment, Quality, Cost and Delivery (SEQCD) Award in recognition for excellence as a supplier of forklift tyres. The company says that, as a valued partner of Toyota Industrial Equipment Manufacturing, Camso was recognised for its “outstanding performance and its high standards of excellence for their material handling wheels and tyres.”
Continue ReadingTrelleborg’s Nomination Committee proposes three new Board members
The Nomination Committee of Trelleborg AB has decided to propose that Johan Malmquist, Gunilla Fransson and Susanne Pahlén Åklundh be elected as new members to the Board at the company’s 2016 Annual General Meeting on 21 April. Furthermore, the Committee proposes the re-election of Board members Hans Biörck, Jan Carlson, Sören Mellstig, Peter Nilsson, Bo Risberg and Anne Mette Olesen. It is proposed that Sören Mellstig be re-elected as Chairman of the Board.
Continue ReadingTire Technology Expo set for February
Described as Europes leading international Tyre Design and Manufacturing Exhibition and Conference, the Tire Technology Expo is taking place at its new location, the Deutsche Messe, Hannover, Germany, from 16 to 18 February 2016.
Continue Reading![Pep Boys or no Pep Boys, Bridgestone aims to grow US retail presence](https://www.tyrepress.com/wp-content/uploads/2016/01/bridgestone-tsuya.jpg)
Pep Boys or no Pep Boys, Bridgestone aims to grow US retail presence
Bridgestone may have had the 800 outlet Pep Boys retail network snapped from it hands by Icahn Enterprises, yet the tyre maker is holding onto its growth plans in the USA. Speaking with Japanese financial publication Nikkei, Bridgestone chief executive officer Masaaki Tsuya shared on plans for 20 per cent growth in the tyre maker’s US retail network by 2020.
Continue Reading![Michelin website selling tyres directly to consumers in Europe](https://www.tyrepress.com/wp-content/uploads/2016/01/Michelin-Online.jpg)
Michelin website selling tyres directly to consumers in Europe
Michelin will begin selling tyres directly to consumers online for the first time during the first quarter of 2016. The news came in parallel with the launch of the new Michelin Pilot Sport 4, which will be the first tyre to be sold by the company via this method.
Continue ReadingDunlop showcasing new products at top UK motorcycle events
Dunlop has confirmed its participation in several important motorcycle events this year. For 2016, the brand will be on display at MCN London Show, ThundersportGB (Brands Hatch and Cadwell Park), North West 200, Isle of Man TT, Moto GP, Motorcycle Live, MXGP, Western Beach Race and the Dirt Bike Show.
Continue Reading![Cicero named CEO of Triangle Tire USA](https://www.tyrepress.com/wp-content/uploads/2016/01/cicero.jpg)
Cicero named CEO of Triangle Tire USA
Manny Cicero, who previously held the post of president of Alliance Tire Americas, has been named chief executive officer of Triangle Tire USA. His appointment follows last November’s official opening of the Chinese tyre maker’s local operation, Triangle Tire United States of America LLC.
Continue Reading![Michelin boosts restaurant activities with BookaTable acquisition](https://www.tyrepress.com/wp-content/uploads/2016/01/bookatable.jpg)
Michelin boosts restaurant activities with BookaTable acquisition
It isn’t all tyres at Michelin – the firm behind the esteemed Red Guide series has announced its acquisition of online restaurant reservation company BookaTable. Michelin says the transaction demonstrates an “intention to accelerate its development” in Europe’s online restaurant reservation market.
Continue ReadingVW faces US$60 billion lawsuit
Volkswagen could face fines of up to £60 billin after the US Justice Department filed a civil lawsuit against it for violating clean air laws. It alleges that Volkswagen installed ‘defeat devices’ in almost 600,000 diesel vehicles in the US to cheat emission tests. The Justice Department recently filed the lawsuit on behalf of the Environmental Protection Agency, which accuses Volkswagen of four counts of violating the US Clean Air Act. In theory, Volkswagen could be handed fines of about £25,000 per vehicle found to have violated the law.
Continue ReadingNokian Tyres joins UN Global Compact initiative
Nokian Tyres shares that it has signed the United Nations Global Compact initiative and as of 23 December 2015 been registered as a supporting member. The tyre maker joins more than 8,000 companies around the world, along with around 4,000 other participants, in what is said to be the worlds largest corporate social responsibility initiative. Nokian says that signing the initiative “further strengthens” its commitment to profitable business and responsible methods.
Continue Reading![ChemChina to acquire KraussMaffei Group for €925million](https://www.tyrepress.com/wp-content/uploads/2016/01/chem-km-sml.jpg)
ChemChina to acquire KraussMaffei Group for €925million
Leading chemical group China National Chemical Corporation, or ChemChina, has agreed to acquire machinery manufacturer KraussMaffei Group from Onex Corporation for a cash enterprise value of 925 million euros. ChemChina’s acquisition of the KraussMaffei Group covers the German company’s three brands of products, including the KraussMaffei Berstorff range of extruders, roller head systems and cap strip systems for the tyre industry. The transaction is subject to closing conditions including customary regulatory approvals.
Continue ReadingMichelin implements partial share buyback programme
Compagnie Générale des Etablissements Michelin has called on the assistance of an investment services provider for the implementation of its share buyback programme as authorised during the tyre maker’s Annual Shareholders Meeting of 22 May 2015.
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