![Ceat boosting TBR capacity to meet international growth ahead of US launch](https://www.tyrepress.com/wp-content/uploads/2023/08/ceat-truck.jpg)
Ceat boosting TBR capacity to meet international growth ahead of US launch
In January 2022, Ceat announced it had “curbed” its ambition in the truck and bus radial segment and was looking to shift its investment focus to off-highway tyres. The company now appears to have reconsidered this step and is reactivating previously approved TBR capacity expansion plans.
Continue Reading![SBTi approval for Hankook Tire’s GHG target](https://www.tyrepress.com/wp-content/uploads/2023/08/Hankook-placeholder-1.jpg)
SBTi approval for Hankook Tire’s GHG target
The Science Based Targets initiative (SBTi) has approved Hankook Tire & Technology’s near-term 2030 greenhouse gas (GHG) reduction goals and target of achieving net-zero by 2050. The tyre maker says this approval will help it “gain momentum in the realisation of its 2050 Carbon Neutrality Roadmap.”
Continue Reading![NTDA reveals Tyre Industry Awards 2023 finalists](https://www.tyrepress.com/wp-content/uploads/2023/08/TIA-Logo-2023.png)
NTDA reveals Tyre Industry Awards 2023 finalists
The National Tyre Distributors Association has announced the finalists in the Tyre Industry Awards 2023. The association revealed that it has received a record number of entries for this edition of the UK tyre industry’s premier awards, which will be presented at the NTDA’s 94th Annual Dinner, sponsored by Maritime Cargo Services, at the DoubleTree by Hilton Milton Keynes on Thursday 19 October. The awards ceremony, sponsored by Sailun Tyres, will be hosted by television personality Jon Culshaw, with a capacity audience of 640 guests in attendance.
Continue Reading![Sentury to start Morocco plant construction after Chinese government certification](https://www.tyrepress.com/wp-content/uploads/2023/08/morocco-flag.jpg)
Sentury to start Morocco plant construction after Chinese government certification
On July 27, Sentury revealed that it expects to commence construction for its Morocco factory soon. Tyrepress China has learned that the general manager of the tyre manufacturer is “in Morocco preparing for the start of the tyre factory”.
Continue Reading![Michelin remains top Enviro shareholder after issue](https://www.tyrepress.com/wp-content/uploads/2023/08/enviro-shareholders.jpg)
Michelin remains top Enviro shareholder after issue
With the assistance of Monitor via Modular Finance, Scandinavian Enviro Systems (Enviro) has prepared a register of the company’s 15 largest owners as of 30 June 2023. Following the announcement of a cooperation agreement with Antin in March and a directed share issue in May, new Enviro shareholders include Handelsbanken Fonder, Swedbank Robur Fonder and Skandia Fonder. Michelin did not participate in the issue, but although it no longer has a 20 per cent stake in Enviro, it remains the largest shareholder by a considerable margin with 16.28 per cent.
Continue Reading![Stellantis now an equal Symbio partner](https://www.tyrepress.com/wp-content/uploads/2023/08/symbio-jv.jpg)
Stellantis now an equal Symbio partner
The sale of part of Michelin’s shareholding in the Symbio hydrogen mobility joint venture to Stellantis was completed on 27 July 2023, making Michelin, Forvia and Stellantis equal 33.33 per cent shareholders in the business. The transaction contributes 150 million euros to Michelin group’s cash.
Continue Reading![Pirelli appoints new BoD](https://www.tyrepress.com/wp-content/uploads/2023/08/Jiao-Jian-sml.jpg)
Pirelli appoints new BoD
After much delay and a hint of Golden Power, Pirelli & C. SpA has a fresh Board of Directors. During the Shareholders Meeting that took place in Milan yesterday, Jiao Jian was named chairman of the Board of Directors. A total of 84.16 per cent of the shareholders with voting rights participated in the meeting and they nominated a total of 15 directors, including nine independent directors.
Continue Reading![UK all-season tyre market: leading wholesaler MTS on continued fast growth](https://www.tyrepress.com/wp-content/uploads/2023/07/Petlas-MultiAction-PT565-scaled-1.jpg)
UK all-season tyre market: leading wholesaler MTS on continued fast growth
While the all-season tyre market in the UK has started its ascent from a low base, it remains the fastest growing consumer car tyre segment. The trend has been supported by the last five years of manufacturers’ all-season product development, which have reduced the compromises involved in fitting a tyre capable of performing well in moderate winter weather conditions all year round. Leading independent UK tyre wholesaler Micheldever Tyre Services (MTS) has been strengthening its all-season range with exclusive brands, including the new all-season tyres from its owner Sumitomo Rubber Industries’ global flagship brand Falken and long-term MTS partner GT Radial, the recent addition of Turkish brand Petlas to its line-up, and further product additions from brands such as Runway and Ovation. MTS wholesale director Graham Mitchell tells Tyres & Accessories about how the wholesaler views the all-season (and winter) tyre segment in the UK, as well as the company’s plans to support its dealer network with the increased interest in these adaptable products.
Continue Reading![SMP Europe brings automotive industry to global sport display with corporate hospitality](https://www.tyrepress.com/wp-content/uploads/2023/07/smpe-ice-hockey-at-the-motorpoint.jpg)
SMP Europe brings automotive industry to global sport display with corporate hospitality
Engine management specialist SMP Europe has successfully enhanced its customer experience with the use of its corporate hospitality suite, bringing the automotive aftermarket to the Ice Hockey World Championship qualifiers, held at the Motorpoint Arena. With its headquarters in Nottingham, SMP Europe’s support for the Great Britain team in the event demonstrates its commitment to the local community and gives the brand the opportunity to promote its engineering expertise in engine management and ignition products to a wider audience.
Continue Reading![Bridgestone UK ambassadors Adam Peaty, Charlotte Worthington begin Olympic countdown](https://www.tyrepress.com/wp-content/uploads/2023/07/oneyeartogopic1-scaled.jpg)
Bridgestone UK ambassadors Adam Peaty, Charlotte Worthington begin Olympic countdown
Bridgestone and its UK ambassadors have begun the countdown to the start of the Paris 2024 Olympic Games, a year from this week. Bridgestone is a Worldwide Olympic and Paralympic Partner for the Games of the XXXIII Olympiad Paris 2024, and launched its “Prepared to perform” campaign with five-time Olympic Games Swimming medallist Adam Peaty and Olympic Games Freestyle BMX gold medallist Charlotte Worthington. Bridgestone says the campaign aims to honour and highlight the diligence and determination of the elite athletes who make it to the Olympic Games.
Continue Reading![Pirelli tyre volumes down, revenue & income up in H1 2023](https://www.tyrepress.com/wp-content/uploads/2023/07/Pirelli-H1-2023-pic.jpg)
Pirelli tyre volumes down, revenue & income up in H1 2023
In spite of weaker volumes in H1 2023, thanks to improved price/mix Pirelli grew its revenues 7.5% YoY, to 3,437.5 million euros. Organic revenue growth was 10.4%. Price/mix increased 12.5% in H1 2023, supported by price increases to counter the growing inflation of production factors.
Continue Reading![Hankook Tire boosts Q2 2023 revenue & operating profit](https://www.tyrepress.com/wp-content/uploads/2023/07/Hankook-tyres-sml.jpg)
Hankook Tire boosts Q2 2023 revenue & operating profit
Hankook Tire & Technology reports increasing its revenue and operating profit in Q2 2023 despite a difficult business environment. Revenues were up 11 per cent year-on-year to KRW 2.2634 trillion (£1.37 billion, US$1.77 million), and operating profit jumped 41.6 per cent to KRW 248.2 billion (£150.41 million, $194.0 million). At 11.0 per cent, operating margin was 2.4 percentage points higher than in Q2 2022.
Continue Reading![RH Claydon distributing Nokian agri & forestry tyres](https://www.tyrepress.com/wp-content/uploads/2023/07/nokian-claydon.jpg)
RH Claydon distributing Nokian agri & forestry tyres
Nokian Heavy Tyres now has a second partner in the UK. RH Claydon Ltd. is distributing Nokian forestry and agricultural tyres from its warehouses after entering into an agreement with the tyre maker. RH Claydon reports that it now stocks these products in most popular tread patterns and sizes, with next-day availability in certain locations.
Continue Reading![Michelin net income up 45% in H1 2023](https://www.tyrepress.com/wp-content/uploads/2023/07/placeholder-michelin-tyres.jpg)
Michelin net income up 45% in H1 2023
Michelin has reported its business results for the six months to 30 June 2023, and chief executive officer Florent Menegaux describes these as good within a context of flat or declining tyre markets. The company is increasingly generating revenue through non-tyre sales.
Continue Reading![Giti launches Mercury total fleet management solution](https://www.tyrepress.com/wp-content/uploads/2023/07/Tony-McHugh.jpg)
Giti launches Mercury total fleet management solution
Giti Tire has launched its Mercury fleet management programme. The programme offers online real-time reporting across all core operational areas. Giti plans to offer Mercury as a value-added service to all truck and bus customers contracted to the brand. Giti is also introducing its Retorque App, designed to give fleet managers visibility that their retorque policy is being followed in real time. The software was soft-launched with several UK-based key fleet customers last September, the company adds. The launch is designed to allow Giti, a mid-market player, to offer services that are now common amongst premium fleet tyre suppliers and partners.
Continue Reading