![Power International Tires acquiring Michelin’s activities in Russia](https://www.tyrepress.com/wp-content/uploads/2023/04/Mich-Bib-placeholder.jpg)
Power International Tires acquiring Michelin’s activities in Russia
Michelin announces that it has signed an agreement with Moscow-based tyre distributor Power International Tires LLC for the purchase of its two local companies, Michelin Russia Tyre Manufacturing Company (MRTMC) LLC and Camso CIS LLC. A known partner of Michelin, Power International Tires is one of the country’s main tyre distributors and has a presence throughout Russia.
Continue Reading![Prinx Chengshan outlines emission reduction goals](https://www.tyrepress.com/wp-content/uploads/2023/05/Prinx-tyre-sml.jpg)
Prinx Chengshan outlines emission reduction goals
The tyre industry has long been considered a high-energy consumption industry, and manufacturers based in China have therefore been profoundly impacted by their government’s carbon neutrality and carbon peaking policies. Prinx Chengshan comments that Shandong Province, where its factory in China is located, frequently issues guidance to aid qualitative development within the tyre industry.
Continue Reading![Correction – Giorgio Bruno not yet Pirelli CEO](https://www.tyrepress.com/wp-content/uploads/2023/05/Pirelli-F1-placeholder.jpg)
Correction – Giorgio Bruno not yet Pirelli CEO
Although the Pirelli & C. SpA Renewal Shareholders’ Agreement came into force on 19 May 2023, Italy is still using its Golden Power Decree to look closely at shareholder China National Tire & Rubber Corporation, Ltd. The full implementation of the Renewal Shareholders’ Agreement and its application to all parties is being delayed until this process is concluded.
Continue Reading![Pirelli Shareholders’ Agreement enters force](https://www.tyrepress.com/wp-content/uploads/2020/10/tlo_biz83a-scaled-e1602237521703.jpg)
Pirelli Shareholders’ Agreement enters force
Pirelli reports that the Shareholders’ Agreement signed in May 2022 entered force as of 19 May 2023. The renewed agreement replaces the previous agreement that expired on 28 April 2023 but doesn’t yet fully apply. Pirelli explains that proceedings related to the Golden Power Decree are still ongoing, with the agreement’s effect and voting rights for China National Tire & Rubber Corporation, Ltd. (CNRC) remaining suspended until a conclusion is reached.
Continue Reading![Apollo Tyres commits to sustainable rubber sourcing](https://www.tyrepress.com/wp-content/uploads/2023/05/Apollo-1.jpg)
Apollo Tyres commits to sustainable rubber sourcing
Apollo Tyres is now sourcing 100 per cent of its natural rubber supplies from companies who have committed to sustainability throughout the supply chain, aligning with the code of conduct set out by the Global Platform for Sustainable Natural Rubber (GPSNR). The new initiative, which came into full effect recently and forms part of Apollo Tyres’ Global Sustainability Strategy, applies to the supply of natural rubber to the company’s two European production facilities in the Netherlands and Hungary.
Continue Reading![Prinx car tyre brand makes European debut in Milan](https://www.tyrepress.com/wp-content/uploads/2023/05/PXL_20230523_075456621-scaled.jpg)
Prinx car tyre brand makes European debut in Milan
Prinx Chengshan’s flagship tyre brand has entered the European market in style at a lavish event in Milan, Italy. Hosting tyre distributors and dealers from all around Europe the brand chose the European fashion capital as its launchpad to signify its bullish expectations for the new range, which arrives offering fitments for a comprehensive range of applications, premiumised technologies, and a European marketing strategy openly setting mid-range-plus targets from the off. During a day of driving workshops at Alfa Romeo’s historic La Pista circuit, Tyres & Accessories was able to trial two Prinx tyres fitted to Tesla Models 3 and Y, and Mercedes AMG A Class hatchback and SUV models: the Xnex Sport EV UHP tyre designed for electric vehicle compatibility, and the Quattura 4S all-season tyre. T&A also spoke to several representatives from the brand’s European team about its new products and aspiration to make its mark on the European tyre segment. Look out for full coverage from the event on Tyrepress and in Tyres & Accessories magazine.
Continue Reading![TBC Corporation sells 595 NTB and Tire Kingdom centres to Mavis](https://www.tyrepress.com/wp-content/uploads/2023/05/MW052023.png)
TBC Corporation sells 595 NTB and Tire Kingdom centres to Mavis
TBC Corporation, a leading tyre distributor in North America, has agreed to sell its company-owned retail portfolio to Mavis Tire Express Services Corp. Specifically, Mavis will acquire 392 NTB Tire and Service Centers (NTB) and 203 Tire Kingdom Service Centers (Tire Kingdom). In connection with the deal, Mavis and TBC have entered into a distribution agreement, through which TBC will provide wholesale and tyre distribution for Mavis retail locations. The transaction is expected to close in the coming weeks. Financial terms of the transaction have not been disclosed.
Continue Reading![Airless two-wheel tyremaker Risingsun lists on stock market](https://www.tyrepress.com/wp-content/uploads/2023/05/Rising-Sun.jpg)
Airless two-wheel tyremaker Risingsun lists on stock market
On May 16, Risingsun, a Chinese manufacturer of air-free tyres, was listed on the National Equities Exchange and Quotations (NEEQ). The move means the company’s shares can be publicly traded.
Continue Reading![CL Tyres buys Fork Truck Tyres](https://www.tyrepress.com/wp-content/uploads/2021/12/IMG_8651-scaled-e1638361382343.jpg)
CL Tyres buys Fork Truck Tyres
Fast-growing industrial tyres business, CL Tyres Ltd has bought Fork Truck Tyres Ltd. Founded in July 2019 by Steve Donnithorne, CL Tyres Ltd experienced 10-fold growth in its first three years of business. The acquisition of Manchester-based Fork Truck Tyres by Midlands-based CL Tyres, which also runs centres in locations including Hull and Washington, suggests a national expansion plan.
Continue Reading![Michelin buys Canopy Simulations for its ‘virtual driver’ technology](https://www.tyrepress.com/wp-content/uploads/2023/05/Canopy.jpg)
Michelin buys Canopy Simulations for its ‘virtual driver’ technology
Michelin has bought UK-based simulation software specialist Canopy Simulations for an undisclosed fee. Since Michelin has been developing dynamic virtual tyre models for the last couple of decades using its Tame Tire software, it appears the plan is to combine Canopy’s “virtual driver” with Tame Tire, taking Michelin’s virtual modelling to the next level.
Continue Reading![Nexen considering US$1 billion US tyre factory](https://www.tyrepress.com/wp-content/uploads/2021/06/Factory_Zatec-scaled.jpg)
Nexen considering US$1 billion US tyre factory
Nexen Tire is considering eight southeastern US states as the possible location for a new $1.3-billion tyre factory project. According to stock market filing published on 18 May, Nexen is set to make a decision on the project by the end of 2023, with a view to getting the factory operational by 2028-2029.
Continue Reading![Minimise costs with scheduled tyre maintenance, says ATS Euromaster](https://www.tyrepress.com/wp-content/uploads/2023/05/ATS-Euromaster-Chamberlain-sml.jpg)
Minimise costs with scheduled tyre maintenance, says ATS Euromaster
Fleets are continually looking for ways to minimise their outgoings in the current economic climate. Longer lead times result in fleets running vehicles for extended periods, and many are coming under pressure to contain costs. Longer lifecycles also influence tyre replacement, and ATS Euromaster sales director Jason Chamberlain thus emphasises that it’s in “fleet managers’ best interests to implement a more planned approach to tyre maintenance in order to minimise costs.”
Continue Reading![Kumho gaining ground in Europe](https://www.tyrepress.com/wp-content/uploads/2023/05/KUMHO-2-sml.jpg)
Kumho gaining ground in Europe
Kumho Tire shares that its performance in the all-important European market has recently shown strong growth. First-quarter sales for 2023 were up 92% on those of the same period last year at €165 million, while the quarter-on-quarter figures rose by a solid 15%. Impressive as these results are, the company views them as “just the first stage” in a period of sustained investment which it anticipates will result in ongoing growth within the region.
Continue Reading![Giti Tire, WS Racing, Sparco set to sparkle at Nürburgring 24-hour race](https://www.tyrepress.com/wp-content/uploads/2023/05/ph157.Nurburgring-24-hour-2023-scaled.jpg)
Giti Tire, WS Racing, Sparco set to sparkle at Nürburgring 24-hour race
Giti Tire has described its visit to the 51st ADAC TotalEnergies 24-hour Nürburgring race as “a huge weekend” for its motorsport division. The manufacturer is supporting its all-female racing team again and will ramp up its new brand building partnership with Sparco. This means that as well as participating in the event, Giti will have its broadest selection of marketing activities at the event. Stefan Brohs, marketing director - Europe for Giti Tire, promises a “full communication strategy” designed to launch the “Giti – Powered by Sparco” slogan for in-person and online viewers.
Continue Reading![Prinx to launch European range on former Alfa Romeo grounds in Milan](https://www.tyrepress.com/wp-content/uploads/2023/02/Prinx-TTC-sml.jpg)
Prinx to launch European range on former Alfa Romeo grounds in Milan
Prinx Chengshan will celebrate the European launch of its new flagship tyre brand Prinx next week in Milan. The brand’s tyres will be available for guests to try at La Pista, an historic racetrack located on the former grounds of Alfa Romeo. The three-day event will give delegates insights into Prinx’s brand strategy and market ambitions. Europe CEO Thomas Wohlgemuth is looking forward to the event and promises an entrance that will set out the manufacturer’s stall for its developing European business. “The entire setting is super. Prinx is a force to be reckoned with in the future, true to our brand claim ‘Leave a mark’”.
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