Goodyear reports third quarter net loss of $89 million, sales down ~3%
Goodyear executives highlighted “improving industry conditions” and “solid operating results” in their third-quarter 2023 investor letter. High points include the Americas and Asia Pacific regions delivering margins above 8 per cent (the overall company’s goal for the second-half) during the quarter. Overall third-quarter segment operating income margin was 6.5 per cent, but the company “continue[s] to anticipate further gains during the fourth quarter.”
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rCB – Bridgestone & Michelin share progress in white paper
Following on from their call to action at the 2021 Smithers rCB conference, Bridgestone Corporation and Michelin Group have updated progress on their goal of increasing recovered carbon black (rCB) utilisation in tyre production. A joint technical white paper, titled Bridgestone & Michelin: Recovered Carbon Black Guidelines, shares the results of their work with other stakeholders to develop a global standard to this end.
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Pyrum Innovations gears up for capacity boost at main site
Capacity at Pyrum Innovations AG’s main plant in Dillingen/Saar, Germany will soon increase following the successful warm commissioning of the site’s two new pyrolysis reactors. With licensing authorities having given the green light for production to start, Pyrum will soon begin recovering oil from end-of-life tyres within Reactors 2 & 3.
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7 years early – Nokian Tyres achieves 2030 CO2 goal
When it comes to climate targets, 2030 seems to be the golden year. But Nokian Tyres has jumped the gun in the best possible way, reaching one of its key emissions reduction targets seven years ahead of schedule.
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ATD launches Radius tyre and parts hub
At the end of October, American Tire Distributors (ATD) launched Radius, a new digital hub designed to integrate tyres, parts, services, and solutions into one connected experience for the automotive aftermarket.
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Toyo agrees sustainable raw materials research partnership with Serbian university
Toyo Tire Holdings of Europe has formed an industry-university partnership for the research and development of sustainable raw materials with the University of Novi Sad in Serbia. Toyo Tire corporate officer Kenta Kuribayashi and University of Novi Sad faculty dean Biljana Pajin signed the agreement on 3 November in Serbia’s second-largest city. Toyo Tire produces tyres in Serbia. The Japanese manufacturer said that it intends to promote technology development through this industry-university partnership and wishes to contribute to educational policies in Serbia.
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ReOil contracts Zeppelin Systems for major expansion
Polish end-of-life-tyre (ELT) recycler ReOil is increasing its pyrolysis activities in Bukowno and has contracted Zeppelin Systems to build a second plant there. Construction is scheduled to start in February 2024 and when completed the new plant will treble plant capacity at the 11-hectare (27-acre) site to around 60,000 tonnes of ELTs annually. Zeppelin Systems intends to provide solutions it can later offer as part of license arrangements.
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Michelin UK instructors support Trainsaid training in Africa
Two Michelin Training Instructors from the UK have completed secondments with international development organisation Transaid, each spending a week supporting the charity’s professional driver training programmes in Ghana and Zambia. Paul Ryder and Stephane Bonnard, who are normally based at the Michelin Training and Information Centre (MTIC) in Stoke-on-Trent, delivered a bespoke training tailored toward the needs of truck and bus driver trainers – supporting Transaid’s ‘train the trainer’ model, which aims to develop skills at a local level.
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Hankook Tire doubles operating profit, halves capex
Hankook Tire & Technology reports consolidated sales of KRW 2,340.0 billion (£1.4 billion) and an operating profit of KRW 396.3 billion (£243.9 million) for Q3 2023. These results respectively represent year-on-year increases of 1.8% and 106%.
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Nexen Tire adjusts tyre prices across Europe
Nexen Tire is “restructuring” the prices of its summer and all-season tyres. The new price list will be valid for the European market, including the United Kingdom and Turkey. The “necessary structural price adjustment” is effective from 1 October 2023 and applies to all orders placed from that date.
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Tire Industry CEOs commit to sustainability workplan
The CEOs of 10 leading tyre manufacturers have gathered to confirm a two-year Tire Industry Project (TIP) workplan focused on “sustainability in the tyre lifecycle”. The plans includes targets relating to tyre-emission research and end-of-life tyre management amongst other points.
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Toyo president and CEO wins Medal with Blue Ribbon
Toyo Tire Corporation representative director, president and CEO, Takashi Shimizu, has been awarded the Medal with Blue Ribbon in the 2023 autumn conferment of medals. The Japanese Medal with Blue Ribbon is awarded to individuals who have achieved in the areas of public welfare and education.
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Avayler: Analysts back ongoing growth
Financial analysts have responded positively to the news of Bridgestone’s investment in Halfords Group’s Avayler Software-as-a-Service (SaaS). Their analysis also reveals further details of the current scale and future plans associated with the Avayler business.
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Bridgestone invests $3 million in Halfords’ Avayler system
Bridgestone has invested US$3 million dollars in buying a 5 per cent stake in Halfords Group Plc’s Avayler Software as a service (SaaS) business. The investment therefore values the two-year-old Avayler business at $60 million. Under the associated commercial agreement, which has an initial term of 15 years notwithstanding certain break clauses, Avayler will provide Bridgestone with access to Avayler’s in-garage and van software products as well as certain services to facilitate Bridgestones use of it. These include services relating to maintenance, development, implementation and support. The commercial agreement provides for the roll-out of Avayler’s products across Bridgestone’s retail and van operation in the USA.
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How Continental Mabor is supporting the manufacturer’s agricultural ambitions
In 2016, Continental took the decision to bring back the manufacture of Conti-branded agricultural tyres under its own control. Production of Continental agricultural tyres had been carried out by Czech tyre maker Mitas from 2004, when it acquired the license, and had been due to continue until 2019. However, the acquisition of Mitas by agricultural tyre manufacturer Trelleborg Wheel Systems meant the Continental brand became surplus to requirements. Conti saw this as an early opportunity to re-enter the lucrative, high-technology agricultural tyre segment with a premium brand intended to compete at the top of the European segment and manufactured at the Continental Mabor plant in Lousado, Portugal with the help of an initial 50-million-euro investment and the recruitment of a manufacturing and R&D team.
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