Michelin to open Tweel factory this week
We’ve heard surprisingly little about Michelin’s Tweel in the decade since the airless tyre and wheel combination debuted at the Paris Motor Show 2004. After eight further years of development, the Tweel made its commercial debut in 2012, and Michelin recently announced the first original equipment Tweel deal, with John Deere. But while the Tweel has maintained a low profile, Michelin clearly has confidence in the product’s future, and on 20 November is opening a plant in the US that will be dedicated to Tweel production. The tyre maker hasn’t yet disclosed how much it has invested in the new Tweel facility in Piedmont, South Carolina, or the plant’s production capacity.
Continue ReadingPlant closure weighs Superior Industries down in Q3
North America’s largest manufacturer of aluminium car and truck rims, Superior Industries International, slid into the red in the third quarter of the 2014 financial year. The company reports a net loss of US$2.4 million due to quarter expenses of $6.9 million, which were largely associated with the upcoming closure of Superior’s factory in Rogers, Arkansas. Net sales for the third quarter decreased eight per cent to $176.4 million. Third quarter unit shipments fell 11 per cent from the corresponding prior year period to 2.6 million units versus 2.9 million units in 2013.
Continue ReadingTecalemit wins business at Euro Bus
Tecalemit Garage Equipment reports taking more than £100,000 worth of business during the first two days of the Euro Bus exhibition at the Birmingham NEC. Commenting on the brisk trade the company experienced, sales and marketing director Phil Cledwyn commented: “We don’t really see events like this as a sales opportunity, it’s about making contact with customers and generating a more receptive sales environment, but it’s nice when you do take substantive orders right there on the stand.”
Continue ReadingPirelli concludes €600 million bond launch
Pirelli has concluded the placement of an unrated bond issue with international institutional investors on the Euromercato for a total nominal value of €600 million. The operation obtained the lowest coupon – 1.75 per cent – in Pirelli’s history, as well as for an Italian unrated corporate Eurobond. Pirelli comments that this demonstrates the confidence investors have in its credit. The loan was placed with over 400 international investors and attracted total orders of approximately €5 billion.
Continue ReadingRecord highs all-round at Toyo Tire in Q3 2014
For the third quarter of the current financial year, Toyo Tire & Rubber reports achieving “record highs: for net sales, operating income, ordinary income and net income.
Continue ReadingSumitomo Rubber Q3 net income up 7%, YTD 28% higher
For the nine months ending 30 September 2014, Sumitomo Rubber Industries reports net sales of 575.3 billion yen (£3.2 billion), a result 8.2 per cent higher than in the corresponding period of 2013. Operating income amounted to 49.1 billion yen (£269.3 million), a year-on-year increase of 14.2 per cent, while net income shot up 28.2 per cent to 31.7 billion yen (£174.2 million). From this total, net sales within the company’s tyre business rose 8.6 per cent to 500.7 billion yen (£2.7 billion) and operating income rose 14.6 per cent to 44.1 billion (£242.3 million).
Continue ReadingMichelin to set up India R&D team
Reporting from the Michelin Challenge Bibendum event in China, Indian financial daily the Hindu Business Line shares that Groupe Michelin intends to establish an R&D team in India that will develop truck tyres for the Asian market. While the publication hasn’t published the comments to this effect that Michelin CEO Jean-Dominique Senard is said to have made on 13 November, it quoted Senard as saying Michelin’s presence in India is “just beginning” and that Michelin hoped to grow its presence in India soon. The new R&D team will apparently be based at Michelin’s development centre in Gurgaon, Haryana State.
Continue Reading‘Mitas Premium’ announced at EIMA – Continental name to be phased out on OE agri tyres
At its press conference at the EIMA agricultural show yesterday, Mitas a.s. announced that as of January 2015, it will replace the Continental brand name on its original equipment agricultural tyre products with Mitas branded products. The Mitas tyres it supplies will bear the ‘Mitas Premium’ name; this name is being given to a new product line of agricultural radial tyres for powerful machinery, and includes the HC 1000 and HC 2000 Very High Flexion (VF) tyres and Super Flexion Tyres (SFT). The VF tyres launched in September 2014 represent Mitas’ latest innovation.
Continue ReadingBridgestone honoured for investments in Poland
English-language Polish weekly the Warsaw Business Journal has honoured Bridgestone with an ‘Investment of the Year’ award. The financial publication chose Bridgestone as one of three recipients due to the funds ploughed of late into its Poznań and Stargard Szczeciński plants.
Continue ReadingCeat approves funds for new tyre factory
At a meeting on 30 October, the Board of Directors of Indian tyre maker Ceat Ltd approved an Rs 4,200 billion (£43 million) investment to set up a new plant for producing tyres for two and three-wheeled vehicles. This planned facility is expected to have a daily capacity of 120 tonnes. It is understood that the facility will be built in the city of Nagpur, Maharashtra State, rather than in Karnataka State as originally planned.
Continue ReadingMichelin releases ‘Green Paper’ on sustainable mobility
At this year’s Michelin Challenge Bibendum, currently taking place in Chengdu, China, the tyre maker has introduced its so-called ‘Green Paper’, a document on sustainable mobility that contains key proposals to meet the challenges tomorrow may bring. The Green Paper includes a number of recommendations based on lessons learned during the 11 previous Michelin Challenge Bibendum events and the collaborative work of institutions and event partners.
Continue ReadingContinental opens UK automotive research and development centre
Yesterday, tyre and automotive component manufacturer Continental celebrated the grand opening of its new automotive research and development centre in Lewes, East Sussex. In Lewes, Continental develops Surround View systems that provide 360-degree detection of what is happening around a vehicle. The new ‘Pannett’s Building’ provides additional offices, meeting rooms and a workshop, as well as a showroom for vehicles with Surround View systems.
Continue Reading6.1MW solar plant inaugurated at Continental tyre factory
The solar photovoltaic power station project at Continental’s tyre plant in Hefei, China was officially inaugurated yesterday at a ceremony attended by local government representatives and by Stephan Weil, prime minister of Continental’s home region of Lower Saxony, Germany. Representing the tyre maker at the event was Dr Ralf Cramer, member of Continental’s Executive Board and CEO of Continental China, and Michael Egner, general manager of the Continental site in Hefei. The solar project is being jointly implemented by Continental and HeFei SuMeiDa Sungrow Power Co., Ltd.
Continue ReadingSerbia open for business
With Cooper, Mitas and most recently Michelin all upping production capacity in Serbia, you can understand the Serbs have invested in communicating the benefits of locating tyre production in the area during the course of 2014. But that’s not all. They have also invested in travelling all the way to Grungrao, Shandong provice, China in order to court the attentions of up-and-coming Chinese tyre manufacturers too.
Continue ReadingMarangoni, Tatneft to establish Russia retreading JV
Marangoni and Tatneft Group have agreed to form a retreading joint venture in Russia. Based in Nizhnekamsk, Republic of Tatarstan, the joint venture to retread all steel truck tyres will operate as KaMaRetread LLC and is expected to commence operations in the first half of 2015. Trading house Kama, a wholly owned subsidiary of Tatneft, will own 65 per cent, while Marangoni SpA will own the remaining 35 per cent. Tatneft is the owner of Nizhnekamskshina, which recently reached the milestone of two million all-steel radial truck tyres produced by its Nizhnekamsk factory.
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