![Hankook Tire chairman arrested](https://www.tyrepress.com/wp-content/uploads/2020/04/Cho-Hyun-Bum.jpg)
Hankook Tire chairman arrested
On 9 March, Cho Hyun-bum, chairman of Hankook Tire, was arrested. The charges against him include illicit inter-affiliate trading, embezzlement and breach of trust. According to Yonhap News Agency, the amount involved in Cho Hyun-bum’s embezzlement and breach of trust may exceed 20 billion won (about £12.7 million; €14.3 million). It is reported that the Seoul Central District Court in South Korea issued an arrest warrant for Cho Hyun-bum in order to safeguard evidence after a court hearing on 8 March.
Continue Reading![Apollo Tyres MD: ‘Our emphasis is back on America’](https://www.tyrepress.com/wp-content/uploads/2016/11/Kanwar-Neeraj-RS_3-sml.jpg)
Apollo Tyres MD: ‘Our emphasis is back on America’
10 years after Apollo Tyres’ bid to acquire Cooper Tire fell through, vice-chairman and managing director Neeraj Kanwar says the company is putting its emphasis on back on North America and even hinted at the goal of building a tyre production facility there.
Continue Reading![Continental “at an advanced stage of the sale” of Russia tyre factory](https://www.tyrepress.com/wp-content/uploads/2022/03/plant-kaluga.jpg)
Continental “at an advanced stage of the sale” of Russia tyre factory
In June 2022, Nokian Tyres was the first tyre manufacturer to use the terms “controlled exit” to describe its withdrawal from operations in Russia. Now, Continental has joined them, with Conti CEO Nikolai Setzer using very similar language as part of the German tyre and automotive supplier’s full-year 2022 financial results presentation.
Continue Reading![Continental’s tyre division contributes 94.4 per cent to group EBIT](https://www.tyrepress.com/wp-content/uploads/2023/03/jahrespressekonferenz__4_-scaled.jpg)
Continental’s tyre division contributes 94.4 per cent to group EBIT
Following Continental’s mid-January preview of its key figures for the past financial year, the tyre and automotive supplier has officially released its 2022 full-year figures.
Continue Reading![Kwik Fit returning to Goodwood Festival of Speed](https://www.tyrepress.com/wp-content/uploads/2023/03/Kwik-Fit-Goodwood-sml.jpg)
Kwik Fit returning to Goodwood Festival of Speed
After two successful exhibits in 2021 and 2022, Kwik Fit has announced it will be returning to this year’s Goodwood Festival of Speed between 13-16 July 2023. The automotive servicing and repair company says it is “set to star” at the 2023 event, bringing an “innovative and revitalised presence to the world’s biggest celebration of motorsport and car culture.”
Continue Reading![Arlanxeo expands polybutadiene production in Brazil](https://www.tyrepress.com/wp-content/uploads/2023/03/arlanxeo-brazil-sml.jpg)
Arlanxeo expands polybutadiene production in Brazil
Arlanxeo has opened a new 65-kilotonne per annum polybutadiene (BR) production line in Brazil. Angelo Brazil, the company’s LATAM regional head, says that this “state-of-the-art BR production line” is a “direct response” to growing demand for the material in Latin America.
Continue Reading![Record crowd expected for 12th consecutive Continental Tyres-sponsored Women’s League Cup](https://www.tyrepress.com/wp-content/uploads/2023/03/Conti-Cup-scaled.jpg)
Record crowd expected for 12th consecutive Continental Tyres-sponsored Women’s League Cup
More than 20,000 tickets have been sold for this weekend’s eagerly anticipated FA Women’s Continental Tyres League Cup Final, as the tyre manufacturer celebrates its 12th consecutive year sponsoring the flagship event.
Continue Reading![Enter the Future: BKT to become an OTR one-stop shop](https://www.tyrepress.com/wp-content/uploads/2023/03/BKT-future-sml.jpg)
Enter the Future: BKT to become an OTR one-stop shop
A fortnight ago, BKT announced its aim of increasing production by around 67% and achieving an annual turnover of US$2 billion in 3 years. The company’s Bhuj facility in western India is key to these plans and will soon manufacture numerous new products, including off-highway truck tyres, agro-forestry radials, tracks and an expanded mining tyre portfolio. BKT shares news of these and other plans.
Continue Reading![Synthos closing Czech ESBR line due to ‘unpredictable costs in Europe’](https://www.tyrepress.com/wp-content/uploads/2022/04/synthos-sml.jpg)
Synthos closing Czech ESBR line due to ‘unpredictable costs in Europe’
Synthos is closing its synthetic rubber Emulsion-SBR (ESBR) production line in the Czech Republic due to “the unsustainable market environment for ESBR due to unpredictable costs in Europe”. Synthos will cease ESBR production at its Kralupy, Czech Republic operation in the second quarter of this year.
Continue Reading![Camfin & LongMarch renew Pirelli agreement](https://www.tyrepress.com/wp-content/uploads/2023/03/Pirelli-agreement.jpg)
Camfin & LongMarch renew Pirelli agreement
Pirelli reports that the shareholder agreement between Camfin SpA and LongMarch Holding S.à.r.l. first signed on 13 May 2020 and modified on 30 June 2021 has been renewed for a further three-year period. The agreement thus remains in place until 13 May 2026.
Continue Reading![Camfin & Brembo sign Pirelli consultation agreement](https://www.tyrepress.com/wp-content/uploads/2021/08/placeholder-sml.jpg)
Camfin & Brembo sign Pirelli consultation agreement
On 28 February 2023, Pirelli shareholder Camfin SpA and its parent Marco Tronchetti Provera & C. SpA (MTP/Camfin) signed a shareholder agreement with Brembo SpA and Next Investment Srl, together with its parent NuovaFourB Srl (Brembo). The agreement covers Brembo’s commitment to align its vote with that of MTP/Camfin, following prior consultation, on matters included in the agenda at Pirelli’s ordinary or extraordinary shareholder meetings.
Continue Reading![Hankook Tire invests in e-commerce platform Carmerce](https://www.tyrepress.com/wp-content/uploads/2023/03/carmerce-sml.jpg)
Hankook Tire invests in e-commerce platform Carmerce
Hankook Tire & Technology has become a KRW 3 billion (£1.9 million) pre-Series A investor in South Korean used car e-commerce platform ‘Carmerce’. The tyre maker and start-up signed an investment contract at Hankook & Company’s headquarters on 28 February.
Continue Reading![Tevva, Ecobat sign up for battery management pilot scheme](https://www.tyrepress.com/wp-content/uploads/2023/03/Ecobat-Solutions-scaled.jpg)
Tevva, Ecobat sign up for battery management pilot scheme
British electric vehicle manufacturer Tevva has entered into a strategic partnership with Ecobat, a global leader in battery recycling, for the repair, repurposing and recycling of its lithium-ion batteries. The partnership kicks off with a 12-month pilot phase for first-life battery management, with the opportunity to expand into additional energy storage and recycling solutions.
Continue Reading![America first: Continental sister company Schaeffler investing across the pond](https://www.tyrepress.com/wp-content/uploads/2023/03/Welt-Rosenfeld-sml.jpg)
America first: Continental sister company Schaeffler investing across the pond
Major German automotive components supplier Schaeffler Group, which like tyre and automotive systems firm Continental counts the Schaeffler family’s IHO Holding as a significant shareholder, is shunning investment at home and in Europe in favour of the USA. In addition to more advantageous energy prices, Schaeffler looks approvingly upon the USA’s more pragmatic approach to climate issues.
Continue Reading![Grupo Andrés invests in financial management consultancy iFinanciera](https://www.tyrepress.com/wp-content/uploads/2023/03/Andres-iFinanciera-sml.jpg)
Grupo Andrés invests in financial management consultancy iFinanciera
Grupo Andrés, a leading tyre distributor in the Iberian Peninsula, has acquired a 20% stake in specialist financial management consultancy iFinanciera. Explaining the decision to invest, Javier Andrés Herrera states that involvement in iFinanciera is closely linked to the development and growth of Grupo Andrés’ own companies and provides important synergies.
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