Doublestar prepares to formally take control of Kumho
At the end of March, tyre manufacturer Qingdao Doublestar suspended trading on the stock exchange and announced that it was preparing to officially take control of Kumho and resolve competition in the industry. Doublestar said it will disclose further information before April 11.
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New name for Australia’s National Tyre & Wheel
Australian headquartered tyre and wheel importer, distributor and retailer National Tyre & Wheel Limited has a new name. From 9 April 2024, the company call itself NTAW Holdings Limited. Shareholders passed a resolution to rename the company during an extraordinary general meeting on 26 March 2024.
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Best results – Prinx Chengshan publishes 2023 financials
Prinx Chengshan Holdings Limited has released its financial results for the twelve-month period ending on 31 December 2023, referring to these as “the best results” in the company’s history. Operating revenue increased to RMB 9,950 million (£1.09 billion), marking a 22% year-on-year rise, while net profit surged to RMB 1,030 million (£113.32 million), a 162.4% increase compared to the previous year. Earnings per share reached RMB 1.62, up by 161.3% year-on-year, and EBITDA rose to RMB 1,710 million (£118.14 million), reflecting a 102.4% increase year-on-year.
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TBC Corporation names Bill Schafer as COO of TBC Brands and TBC International
TBC Corporation has appointed Bill Schafer as Chief Operating Officer (COO) for TBC Brands and TBC International. Schafer will report directly to TBC Corporation’s President and Chief Executive Officer, Sam Kato, and will oversee all TBC Brands and TBC International sales initiatives, including customer service, commercial tyre sales, equipment and non-tyre sales, and operations.
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Bridgestone presents second-generation lunar tyre
It’s now around five years since Bridgestone Corporation announced it was developing tyres for a future Japanese mission to the Moon. The company has now presented its latest generation lunar rover tyre, which features “improved performance through research and development.” Bridgestone is showing this concept tyre at the 39th Space Symposium, which takes place in the USA between 8 and 11 April 2024.
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Remember This? – March 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 March 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.
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GT Radial sponsors Northampton Saints rugby union team
GT Radial is now the Official Tyre Partner, shorts sponsor and a ground advertiser with leading English Gallagher Premiership rugby union team Northampton Saints. As a result of the sponsorship, the GT Radial logo will be placed on the back right of the players’ shorts on both the home and away kits. The brand will also take a large advertising space in the Barwell Stand next to the electronic scoreboard, which can be seen from all sides of the 15,200 capacity stadium. The scoreboard will also display GT Radial advertising and brand recognition campaigns. GT Radial will also receive matchday tickets or hospitality at every home league game, and once-a-season use of the ultra-immersive Tunnel Club, a glass-walled restaurant situated between the home and away changing rooms with premium access matchday seats right next to the home dugout.
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Nova Motorsport signs 5-year British Hillclimb Championship title sponsorship, tyre supply deal
Avon Motorsport brand licensee Nova Motorsport will continue the British brand’s legacy in the British Hillclimb Championship (BHC) as title sponsor and major tyre supplier. The new global motorsport tyre brand has signed a new five-year title sponsor partnership with the 30-round series, which commences at Prescott on 20 April 2024. Nova Motorsport said the deal represents a landmark strategic partnership, delivering “security of tyre supply for the championship” and ensuring its future. Nova Motorsport will be supported by BMTR, a long-standing partner of Avon Motorsport and now Nova Motorsport, as the official service provider and supplier of Avon Motorsport and Nova Motorsport tyres to the BHC.
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Horiba Mira invests in Passive Safety Engineering Centre
Horiba Mira has announced its plans to upgrade and enhance significantly its Passive Safety Engineering Centre. The West Midlands testing centre said that the upgrades would “safeguard the UK’s future as an automotive safety test engineering powerhouse”. The investment will extend the safety centre by more than 40 per cent and enable the delivery of legislative and NCAP crash test protocols. The project is receiving support from the West Midlands Combined Authority funding partner, Frontier Development Capital. It will position Horiba Mira as a full-service provider of active and passive testing, according to the company, boosting the UK’s “unique” capability in passive safety engineering.
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Tyre News in Numbers – March 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 March 2024 magazine. 1.2 million tonnes - The approximate tonnage of waste tyres imported annually by India, extrapolated from Indian Automotive Tyre Manufacturers’ Association (ATMA) figures covering the eight-month period April-November 2023, for which the UK is a primary source. Around 90 per cent of this total undergoes batch-pyrolysis, a method the UK’s Tyre Recovery Association considers “outdated” and “highly polluting”
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Bekaert signs 12-year solar PPA for Sardinia plant
Steel wire and coating technologies firm Bekaert and Edison Next, the Edison Group company supporting customers with ecological transition and decarbonisation, have signed a 12-year on-site Power Purchase Agreement (PPA). This PPA will see the installation of a photovoltaic system with a total power of 6.1 MW at Bekaert’s plant in Sardinia, Italy. The 6.1 MW solar installation will be capable of meeting more than 20 per cent of the plants current energy requirements.
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Nokian Tyres – Sustainability Report 2023
Nokian Tyres has published its Sustainability Report 2023. This document, which has been prepared in accordance with the GRI Standards and is assured by an independent third party, describes Nokian Tyres’ sustainability actions and results in 2023 in terms of product liability and safety as well as environmental and social responsibility.
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GT Radial completes Champions Hockey League hat-trick season
GT Radial celebrated the completion of its third season as Official Tyre Partner of the Champions Hockey League (CHL) at an exciting final won by Swiss club Genève-Servette 3-2 against Skellefteå AIK. GT Radial distributors and sellers from around Europe were among the sold-out crowd of 7,135 at the winner’s Patinoire des Vernets rink while millions of global fans followed the event on TV and social media. Stefan Brohs, marketing director - Europe for Giti Tire, said the partnership had continued to offer more. He said that GT Radial will “keep working with the CHL to create high-end fan engagement both at the stadiums and through social media.”
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Aeolus ends direct Pirelli tie-up, signs Pirelli deal with PTG
Aeolus Tyre Co. Ltd has dissolved its direct license contract with Pirelli Tyre S.p.A. for Industrial segment technology, replacing this agreement with one it signed with Prometeon Tyre Group S.r.l. (PTG) earlier in the month. According to the terms of the new agreement, Aeolus Tyre will receive patented and proprietary technology that Pirelli has licensed to PTG.
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Continental closing 2 Automotive sites in Germany
As part of measures outlined in February, on 26 March 2024 Continental announced the planned closure of its Wetzlar and Schwalbach sites in Germany. Both belong to the company’s non-tyre Automotive group sector.
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