Sumitomo’s CSR report now available in English
Sumitomo Rubber Industries has published the English-language version of its "CSR Report 2013", which was originally released in Japanese in June. The report details the group’s corporate social responsibility activities during 2012.
Continue ReadingCourt rejects bid to relocate Cooper Chengshan case
Following the rescheduling of the Cooper Chengshan court hearing to an undetermined date, the Chengshan Group sought to have the case moved from China to Hong Kong. However, Bloomberg reports that the Weihai Intermediate People’s Court has decided not to allow this change of venue.
Continue ReadingMoscow office to aid Cooper’s drive into Russia
Cooper Tire has shared details of the sales office it has set up in Moscow. Alex Kolkov heads the office as sales manager; he joined Cooper Tire after serving in leadership positions at multinational companies with sales and production facilities in Russia, including Paulig Rus LLC and Sappi.
Continue ReadingMichelin Guide 2014 out next week
Those who enjoy fine dining or just a good feed needn’t wait long for the Michelin Guide Great Britain & Ireland 2014. It will be released on 4 October, and Michelin has given a heads up on what’s to expect in the latest edition.
Continue ReadingIndonesia on Apollo, JK Tyre shortlist?
Both Apollo Tyres and JK Tyre & Industries intend to establish new plants in Asia, and the chairman of the Indonesian Tire Producers Association says both firms are looking at his country as a potential site. Aziz Pane told Indonesia’s Investor Daily “the two investors from India are interested in coming here.” He added that each tyre maker would have to invest between US$300 million and $350 million in order to achieve a suitable economy of scale. He also opined that in order not to operate at a loss, the factories will have to be operated on a three-shift day system.
Continue ReadingTyre industry remains a Lanxess focus
While Lanxess says it is “pursuing strategic options for specific non-core businesses” and aims to reduce its global workforce by around 1,000 people by the end of 2015, the specialty chemicals firm’s reduced 2013 capex is being invested in areas serving the tyre and automotive industries. The company says work on its three key projects, including the new neodymium polybutadiene rubber (Nd-PBR) plant in Singapore is progressing according to plan.
Continue ReadingConti looks back on ‘overwhelmingly positive’ year on the DAX
It’s been a year since Continental returned to what it calls the “stock exchange premier league”, and the German firm considers its DAX comeback to have been an “overwhelmingly positive” one. Over the last twelve months the company’s shares have risen more than 54 per cent to €125.55 and even recorded an all-time high of €127.45. And after joining in 22nd position for market capitalisation, the company moved up to 19th place thanks to strong share performance.
Continue ReadingBridgestone goes into bat for the kiwi
Bridgestone New Zealand has entered into sponsorship partnerships with two organisations looking after the country’s native flora and fauna, and its best-known bird in particular – the Rainbow Springs Kiwi Wildlife Park and the Motuora Restoration Society.
Continue ReadingFifty years old and still looking good
Pirelli may be Italian, but its world-famous calendar began life here in the UK, the baby of the company’s British marketing team, which was given the task of producing a calendar for Pirelli’s most valued clients and associates. This year, the British-born ‘Cal’ celebrates its half-century, and Tyres & Accessories spoke with Pirelli Calendar project coordinator Julie Naylor about the origins of the Cal’s success, how it has developed over the course of five decades and what meaning it maintains in Pirelli’s marketing mix alongside the Italian firm’s Formula One involvement.
Continue ReadingNokian to form Commercial Tyres unit from truck and heavy tyre businesses
As of 1 January 2014, Nokian Tyres’ Heavy Tyres and Truck Tyres business units will be integrated into a single entity, Commercial Tyres. The Finnish tyre maker says the integration of both operations into a combined business unit will not have any immediate impact on the 280 or so people currently employed in Heavy Tyres and Truck Tyres, and it states the decision to form the Commercial Tyres business unit was taken in order to provide a “better chance to develop operations and improve sales.” Nokian president and CEO Kim Gran also pointed out that the synergies of integration should clearly improve profitability.
Continue ReadingGiti Tire sets up technical centres in Germany, the US
Giti Tire has announced the establishment of new technical centres in Germany and the US. The two sites will work in collaboration with the company’s MIRA-based UK facility as well as its centres located in Indonesia and China. Giti now employs more than 600 R&D personnel and describes the creation of a European and North American technical centre as marking a “significant development in the research and development capabilities of the company.”
Continue ReadingTitan withdraws 2013 guidance
Titan International announced on 19 September that it has withdrawn the elements of its 2013 guidance related to revenue and EBITDA. In a statement, the company said it “does not anticipate issuing any further updated guidance until its 2014 guidance is issued by January 2014.”
Continue ReadingMarangoni Retreading Systems expands Central Europe presence
Marangoni Retreading Systems reports that it has consolidated the presence of the Ringtread system in the Baltic region and the Ukraine by strengthening its partnerships with two important operators in the truck tyre distribution and service sector.
Continue ReadingGoodyear reintroduces shareholder dividends
At an investor meeting on 20 September, Goodyear Tire & Rubber announced the return of shareholder dividends after an absence of 11 years. The company’s new capital allocation plan calls for the reinstatement of a quarterly cash dividend on its common stock and a $100 million share repurchase programme.
Continue ReadingTyre24 goes live in Italy
Germany’s Tyre24Group has opened a new B2B online platform in Italy. The new tyre24.it site went live on 16 September and brings the company one step closer to gaining a presence in the major European tyre markets. Tyre24 is already active in Germany, Poland, France and Austria.
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