Miyamori becomes Toyo Tire corporate officer amongst personnel changes
Toyo Tire Corporation president and CEO Takashi Shimizu announced the following changes of assignments for a corporate officer as well as further personnel changes in statement released on 30 October 2023.
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Subsidies didn’t stop Doublestar losing money in Q3
In the third quarter of 2023, Doublestar’s revenue increased by 11.95 per cent year-on-year to 1.23 billion yuan (approximately £139 million; €159 million). Doublestar specified that its PCR products had achieved profitability from July to September. However, overall, during the reporting period, the tyre manufacturer was still in the red despite an increase in operating income, with a loss of 53.32 million yuan (approximately £6 million; €6.87 million).
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Nexen ‘restructuring’ European operations with appointments including new UK MD
Nexen Tire reports that it is fortifying its European organizational structure by assigning new members in key positions. The moves includes “restructuring current functional department underneath” and the expansion of its presence in Germany through appointing a new managing director. At the same time, UK managing director responsibilities have been re-assigned.
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Apollo to build new tyre warehouse in Enschede
Apollo Tyres will partially rebuild its primary tyre warehouse in Enschede, the Netherlands to “improve operational efficiency and reduce its environmental impact”. Scheduled to reopen in February 2025, investment in the 25,000 m2 warehouse is said to reflect Apollo Tyres’ “long-term commitment to production in the Netherlands”.
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Triangle Q3 net profit up 100%
In its third quarter, Triangle produced 6.2706 million tyres, sold 6.5204 million tyres, and reported revenue of approximately 2.67 billion yuan (about £300 million; €340 million).
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Coalition against unfair tyre imports requests tariff review
Ahead of the expiry of anti-dumping tariffs on China-produced truck tyres imported into the European Union, on 20 October the European Commission reported receiving a request to review these. The European industry observers our sister title Neue Refeinzeitung (NRZ) spoke to expect a preliminary decision at the beginning of the review. Meanwhile, Chinese market sources told Tyrepress China that the tyre makers at the centre of the case have generally responded “calmly”, having become accustomed to “trade barriers” from Europe. Whatever the current market reaction is, the investigation will be concluded “within 12 months and in any event no later than 15 months from the date of…publication” (20 October 2023), according to the Commission.
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Goodyear concludes large-scale solar project
It’s solar superlative time. The Goodyear Tire & Rubber Company reports having completed its largest solar panel installation to date. More than 29,700 solar panels now sit upon the rooftop of the tyre maker’s Pulandian factory site in Dalian, China, as well as on adjoining warehouse and office buildings – equipment that Goodyear says will reduce carbon emissions from purchased electricity by 17,000 tonnes annually over 25 years.
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New owners & execs at GSF Car Parts
The Epiris Fund III of private equity firm Epiris has acquired GSF Car Parts (GSF). This is the fourth investment for Fund III, and Epiris has not disclosed financial terms. The Ahluwalia Family Office has also co-invested in GSF Car Parts alongside Epiris, marking Sukhpal Ahluwalia’s return to the car afterparts market. Sukhpal Ahluwalia becomes executive chairman of GSF and Steve Horne chief executive officer.
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Goodyear partnering on upcycled isoprene
A new collaboration between The Goodyear Tire & Rubber Company and California-based bioengineering firm Visolis will lead to the production of isoprene through the upcycling of biobased materials. This collaboration, which Goodyear announced yesterday, is supported by a Small Business Innovation Research (SBIR) grant awarded to Visolis earlier this year.
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Bridgestone ends TBR production at Rangsit plant
Bridgestone Corporation completed the consolidation of its tyre manufacturing operation in Thailand today with the end of truck and bus radial production at its Rangsit plant. Bridgestone Tire Manufacturing (Thailand) Co. Ltd’s Chonburi facility has taken over this production capacity.
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No longer competitive – Michelin closing Ardmore, USA tyre plant
In response to a “rapidly and profoundly” changing passenger vehicle market in North America, Michelin has decided to end production at its Ardmore tyre plant in Oklahoma. Michelin North America idled operations at the factory from the morning of 26 October to begin the process of presenting details to the workforce. It expects to resume operations early on 28 October, but “over the coming days and weeks” Michelin representatives will discuss separation conditions with each individual employee.
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Michelin unveils aircraft tyre plan & welcomes new activities in Bourges
The Bourges site in France is Michelin’s only aviation tyre plant in Europe, and the company reports that production has grown significantly over the past two years, leading to certain organisational issues as well as the need to recruit and train almost 240 permanent employees in 2022 and 2023. Michelin launched a collaborative project to deal with these challenges, and various stakeholders have come up with a five-year plan to ensure the Bourges plant performs better. The site is also expanding its activities to include Michelin Inflatable Solutions.
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Joint EICMA presence for Dunlop & Avon
This year will be the first time the Dunlop and Avon brands share exhibition space at the EICMA motorcycle show in Milan, following The Goodyear Tire & Rubber Company’s acquisition of Cooper Tire & Rubber Company in 2021. While Dunlop is scheduled to “showcase its strongest range yet,” Avon will “focus on key designs” with a range that “still offers” its “most popular products” alongside the Dunlop portfolio.
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Pirelli forms $550 million Saudi Arabia tyre manufacturing joint venture
The Saudi Arabian Public Investment Fund (PIF) and Pirelli Tyre S.P.A signed a joint venture (JV) agreement to build a tyre factory in Saudi Arabia. PIF will hold a 75 per cent stake in the JV with Pirelli holding the remaining 25 per cent and acting as “a strategic technology partner” offering both “technical and commercial assistance”. The plant is expected to start production in 2026.
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Totalkare exclusive distributor for Hunter CV aligners
Hunter Engineering Company has granted workshop specialist Totalkare exclusive UK distribution rights for its heavy-duty wheel alignment equipment. Totalkare states that a “commitment to providing comprehensive solutions for the commercial vehicle industry” underpins this strategic partnership, and to ensure a seamless introduction of Hunter products to the UK market, it has “invested significantly in rigorous training for its staff.”
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