New Goodyear CEO Stewart gets ~$20 million year-one package
Following the news that Mark Stewart has been appointed as Goodyear’s new global chief executive, further details of his remuneration have emerged. He’s getting paid a double-digit-million-dollar package in year one.
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Pyrum establishes subsidiary for second pyrolysis plant
At the start of January, Pyrum Innovations established a wholly owned subsidiary to operate its second pyrolysis tyre recycling plant. This ‘Pyrum GreenFactory II GmbH’ facility is located in Perl-Besch on the Moselle, in Germany’s Saarland region, and will enter service by the end of 2025. Pyrum has modelled the plant on its main site in nearby Dillingen/Saar, and when operational it will double the company’s recycling capacity to 40,000 tonnes of used tyres per annum. Pyrum says it already starting to order certain plant components – those with “notoriously long delivery times” – in the first quarter of 2024.
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Linglong’s net profit increases >300%
On 15 January, Linglong disclosed its estimated net profit for 2023. The tyre manufacturer reported net profit in 2023 of between 1.35 billion yuan (approximately £148 million; €173 million) and 1.61 billion yuan (about £176 million; €206 million), a year-on-year increase of 362 per cent to 451 per cent.
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Goodyear: Mark Stewart succeeds Rich Kramer as CEO
The Goodyear Tire & Rubber Company has named Mark Stewart as chief executive officer and president, effective 29 January 2024. He succeeds Richard J. Kramer, who announced his retirement from Goodyear towards the end of 2023. In addition, also as of 29 January, Laurette T. Koellner, independent lead director of Goodyear’s board since 2019, will become non-executive board chair, and Stewart will be added to the Goodyear board as a director.
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Sailun’s Vietnam plant begins rubber track production
With additions made during the third phase of Sailun Group’s Vietnam factory project now operational, the plant has started manufacturing rubber tracks. Members of the Sailun management team recently invited partners and plant employees to a ceremony celebrating the inauguration of track production.
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Prinx Europe – growth to follow success in 2024
Prinx Europe says it is raising the bar after an “extremely successful 2023,” with “big plans” already in place for this year. The tyre maker intends to further grow both its European dealer network and local product range in 2024.
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SRI utilising hydrogen energy in tyre manufacturing
Since establishing its new long-term sustainability policy in 2021, Sumitomo Rubber Group has piloted and demonstrated proof of concept for the use of hydrogen as a source of energy at its tyre factory in Shirakawa, Japan. Combined with power generated from solar photovoltaic panels installed in the plant’s carpark, Sumitomo Rubber Industries (SRI) claims that the use of hydrogen has led to carbon neutrality (Scopes 1 and 2) for its production at Shirakawa, beginning in January 2023.
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Pirelli’s Italian shareholders increase stakes
Following on from the execution of the Italian government’s golden power directive, which removed Sinochem’s power to appoint a chief executive, Pirelli’s major investors have struck an investment agreement that effectively gives increased control to Pirelli’s Italian shareholders as well as to executive Marco Tronchetti-Proveras eponymous company.
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TIA Agri now an Alliance distributor
TIA Agri has expanded its relationship with Yokohama Off-Highway Tires (YOHT) by adding UK supply of the Alliance brand to its existing distribution of the Galaxy line-up. Under the extended partnership, TIA Agri will distribute the full range of Alliance off-highway tyres.
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BTMA joins Tire Industry Project as affiliate member
The British Tyre Manufacturers’ Association (BTMA) has joined the Tire Industry Project (TIP) as an affiliate member. The Australian Tyre Industry Council (ATIC) and the Automotive Tyre Manufacturers’ Association (ATMA) of India have also joined the organisation at the same level. While not contributing to the governance of TIP, affiliates engage with topics within the scope of the project’s mission. Formed in 2005, TIP is built on the pillars of research, action and engagement and communication, bringing a collaborative and scientific approach to sustainability in the tyre sector. Graham Wilson, chief executive of the BTMA, said the organisation is “delighted to enter a fuller and more structured relationship” with TIP, building upon the development of “informal ties” in recent years.
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Tyroola Europe operations shuttered after Michelin buy-out
Following the news that Michelin has bought Australian e-commerce business Tyroola, Tyres & Accessories observed that the company also operates certain websites in Europe via a Dutch legal entity – Tyroola B.V.
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Brake shorter with tyre intelligence – Goodyear reports on TNO partnership
In 2021, The Goodyear Tire & Rubber Company began collaborating with Netherlands-based research organisation TNO into solutions that facilitate communication between a vehicle’s tyres and its anti-lock braking system (ABS). More than three years later, the partners are showcasing their work on integrating tyre intelligence technology into the ABS controller of a test vehicle.
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FIEGE leases Czech warehouse to help Nexen with OE tyre supply
CTP, Europes largest industrial and logistics property manager by gross lettable area (GLA), has leased 18,000 sqm to FIEGE, a leading provider of logistics and transport services in Europe, at a new 71,000 sqm industrial and logistics building which is currently under development at CTPark Žatec in the Czech Republic.
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Clarios & Altris jointly developing sodium-ion batteries
With a new partnership, low-voltage battery specialist Clarios and Swedish firm Altris, a pioneer in sustainable sodium-ion battery technology, aim to develop low-voltage sodium-ion batteries for the automotive industry. The companies have agreed not to disclose financial details of their development agreement.
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Bridgestone Club offers professional farmers online platform
Bridgestone has launched a new online companion designed to help farmers. The Bridgestone Club offers monthly offers, advice, news, discounts, giveaways, and opportunities to engage with other professionals. Bridgestone says the platform has been designed to facilitate more interaction, including opportunities to upload photos and comment on farming life along with other users around the UK. Bridgestone’s VT sales manager for North Europe, Stephen Lamb is excited to roll out Bridgestone Club.
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