Yokohama Rubber gives 1 million yen to earthquake relief efforts
The Yokohama Rubber Co. Ltd. and its employee-backed Yokohama Magokoro Fund is giving a total of ¥1 million (¥500,000 each from the company and the Fund) to the Japanese Red Cross Society in support of relief efforts in the earthquake-stricken parts of Turkey and Syria.
Continue ReadingBridgestone donates 1 million euros to earthquake appeal
Bridgestone is donating 1 million euros to efforts to offer relief to those struck by the recent earthquake in Turkey and Syria. Writing in a statement released on 14 February, company officials said:
Continue Reading![Bridgestone: Using the sun to make off-highway tyres](https://www.tyrepress.com/wp-content/uploads/2023/02/Bridgestone-solar-Japan-sml.jpg)
Bridgestone: Using the sun to make off-highway tyres
Bridgestone’s Shimonoseki and Kitakyushu tyre plants in Japan are now equipped with solar power systems. With a combined generation capacity of 5.8 MW, these systems will supply electricity to produce tyres at the two sites. Bridgestone speaks of an annual CO2 reduction of around 2,700 tonnes.
Continue Reading![Rema Tip Top acquires Abracs](https://www.tyrepress.com/wp-content/uploads/2023/02/rtt-abracs-001-002-sml.jpg)
Rema Tip Top acquires Abracs
Rema Tip Top AG has acquired UK-based abrasive and power tool accessories specialist Abracs Ltd. With the acquisition, Rema Tip Top intends to bring a wide range of new products to existing automotive customers and open up new markets in the UK and beyond.
Continue Reading![BKT: 67% more production, $2 billion turnover in 3 years](https://www.tyrepress.com/wp-content/uploads/2023/02/BKT_BhujPlant_Aerial8-sml.jpg)
BKT: 67% more production, $2 billion turnover in 3 years
Off-highway tyre specialist BKT has quantified its growth ambitions, and the figures are ambitious. Tyrepress reported yesterday that the manufacturer’s capacity across all manufacturing facilities will reach 360,000 tonnes later in 2023. But BKT has big plans for its “most strategic plant” in Bhuj and has announced its goal of harnessing this facility to achieve annual tyre production of 600,000 tonnes in 3 years. It also intends for turnover of US$2 billion a year by the end of this period.
Continue Reading![Michelin’s Russia exit taking longer than planned](https://www.tyrepress.com/wp-content/uploads/2023/02/Michelin-Davidovo_tb.jpg)
Michelin’s Russia exit taking longer than planned
Three months after pausing operations in Russia, Michelin issued a press release on 28 June 2022 acknowledging the technical impossibility of resuming operations there. At the time it spoke of transferring control of its operations to local management, and Michelin tells us that the intention was to dispose of its operations in Russia by the end of last year.
Continue Reading![Price adjustments lift Michelin sales & income in 2022](https://www.tyrepress.com/wp-content/uploads/2023/02/Michelin-bib-sml.jpg)
Price adjustments lift Michelin sales & income in 2022
In spite of lower sales volumes, a combination of “firm pricing discipline” and “fast-growing non-tyre sales” helped Michelin increase its overall sales to €28.6 billion in 2022. The company achieved segment operating income of €3.4 billion, while net income reached €2.0 billion for the year, up 8.9 per cent on 2021.
Continue Reading![Lists recognise Pirelli’s sustainability focus](https://www.tyrepress.com/wp-content/uploads/2023/02/lists-sml.jpg)
Lists recognise Pirelli’s sustainability focus
Pirelli & C. SpA has secured a spot on the CDP Climate A list 2022, the fifth consecutive year it has done so. The company was also recently included in the Top 1%, the highest level of recognition within S&P Global’s Sustainability Yearbook 2023.
Continue Reading![BKT consolidating Waluj production in single, 55 KTPA plant](https://www.tyrepress.com/wp-content/uploads/2023/02/BKT_Waluj_3-sml.jpg)
BKT consolidating Waluj production in single, 55 KTPA plant
Late in 2021, BKT announced operations would continue at its 1988-inaugurated Waluj factory following the commissioning of a plant originally intended to replace it. A year down the track and BKT reverted to its initial plan and is now redirecting the capital expenditure of Rs 3.5 billion (£35.2 million; US$42.4 million) previously approved for modernising the old plant to the newer Waluj facility to “bring in economies of scale.”
Continue Reading![Davanti Tyres holds first Italian conference](https://www.tyrepress.com/wp-content/uploads/2023/02/Davanti-Tyres-SRL-2.png)
Davanti Tyres holds first Italian conference
Davanti Tyres’ Italian subsidiary has held its first customer conference in Rome. The Italian arm of the UK-headquartered tyre brand was established a year ago. The company said the conference gave its Italian team the opportunity to present Davanti’s progress in the region to existing and prospective customers.
Continue ReadingLKQ Europe acquires Rhenoy Group
LKQ Europe has announced that it is expanding its European salvage network with the acquisition of Dutch based Rhenoy Group (“Rhenoy”). Founded in 1991, Rhenoy is a leading supplier of remanufactured engines, and recycled OEM car parts. Rhenoy operates a salvage dismantling facility in the Netherlands, and remanufacturing plants in both the Netherlands and Poland.
Continue Reading![Titan takes on investor relations advisor](https://www.tyrepress.com/wp-content/uploads/2020/10/tlo_biz83a-scaled-e1602237521703.jpg)
Titan takes on investor relations advisor
Off-highway segment specialist Titan International, Inc. has appointed Alpha IR Group its new investor relations advisor. In this capacity, Alpha IR will support Titan and its investor relations activities as well as broaden awareness of Titan within the financial community.
Continue Reading![Apollo presents agri tyre with 75% sustainable materials](https://www.tyrepress.com/wp-content/uploads/2023/02/RD-Team-with-the-Tyre-sml.jpg)
Apollo presents agri tyre with 75% sustainable materials
Apollo Tyres aims for at least 40 per cent of the raw materials it uses by 2030 to be sustainable, and to show what it can already achieve the tyre maker has produced an agricultural tyre containing 75 per cent sustainable materials. Although just a concept, Apollo is evaluating the product’s potential commercialisation.
Continue Reading![No Russia clarity for Nokian Tyres](https://www.tyrepress.com/wp-content/uploads/2023/02/PlantsinRussia.jpg)
No Russia clarity for Nokian Tyres
Anyone listening to the Nokian Tyres conference call on Tuesday in the hope of gaining insights into negotiations with Tatneft were sorely disappointed. More than 3 months after Nokian announced the sale of its Russian operations for around 400 million euros, fundamental aspects of the deal are still completely opaque. Jukka Moisio, president and CEO of Nokian Tyres, brought no clarity to the subject.
Continue Reading![New pyrolysis reactors in place at Pyrum’s main site](https://www.tyrepress.com/wp-content/uploads/2023/02/Pyrum-reactors-installed-sml.jpg)
New pyrolysis reactors in place at Pyrum’s main site
Pyrum Innovations has marked an “important milestone” in the expansion of its main plant by installing the two pyrolysis reactors needed to complement the site’s existing production line with a further two. It will soon begin testing the installed components by carrying out loop checks as the first step in the cold commissioning process.
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