![Doublestar suffers huge losses](https://www.tyrepress.com/wp-content/uploads/2023/02/业绩.jpg)
Doublestar suffers huge losses
At the end of January, three Chinese tyre companies released their 2022 performance forecasts, which show that Aeolus and Linglong are in profit, but reveal huge losses at Doublestar.
Continue Reading![Hankook Tire: Record sales in 2022](https://www.tyrepress.com/wp-content/uploads/2023/02/Hankook-Audi-sml.jpg)
Hankook Tire: Record sales in 2022
Announcing its 2022 financial results, Hankook Tire & Technology (Hankook Tire) shares that its consolidated global sales reached an “all time high” last year. Sales increased 17.5% to KRW 8,394.2 billion (£5.6 billion, $6.9 billion). Operating profit rose 9.9% YoY, to KRW 705.7 billion (£468.2 million, $576.7 million).
Continue Reading![Continental restructuring ContiTech business](https://www.tyrepress.com/wp-content/uploads/2023/02/continental_pp_headquarter.jpg)
Continental restructuring ContiTech business
Continental is “strategically realigning” its non-tyre ContiTech business to lay the groundwork for its “transition from a traditional product supplier to a provider of integrated solutions.” ContiTech will expand its industrial business while consolidating the automotive business, and will gain a CTO who will “drive the expansion of its materials expertise.” The changes take effect early May 2023.
Continue Reading![Bridgestone gains SBT Certification for CO2 targets](https://www.tyrepress.com/wp-content/uploads/2023/02/sbtcertificationglobal02-02-23.png)
Bridgestone gains SBT Certification for CO2 targets
Bridgestone has received Science Based Targets (SBT) certification from SBT initiative (SBTi) for its CO2 emissions reduction targets for 2030, which form part of the company’s Sustainability Business Framework that “ensures the link between sustainability activities and business for contributing to carbon neutrality and a circular economy across the entire value chain”. These efforts align with the “Bridgestone E8 Commitment” which is designed to accelerate transformation to a sustainable solutions company.
Continue Reading![Prometeon extends WorldSBK engagement with Yamaha team sponsorship](https://www.tyrepress.com/wp-content/uploads/2023/02/Prometeon-Yamaha-WSBK-sml.jpg)
Prometeon extends WorldSBK engagement with Yamaha team sponsorship
It may not produce motorcycle tyres, but Prometeon Tyre Group benefits from the exposure the Pirelli brand gains as top sponsor and tyre supplier to WorldSBK. Prometeon also took on WorldSBK official sponsorship in April 2022 and now seeks to further raise its profile amongst those who enjoy riding fast on two wheels by becoming co-title sponsor of the Yamaha WorldSBK team.
Continue Reading![moveero appoints new CFO](https://www.tyrepress.com/wp-content/uploads/2023/02/Anirudh-Pandit.jpg)
moveero appoints new CFO
moveero has named Anirudh Pandit as Chief Financial Officer (CFO), a move that sees Pandit take global responsibility for the company’s finance function.
Continue Reading![Pirelli revises TyreClub+ B2B platform](https://www.tyrepress.com/wp-content/uploads/2023/02/TyreClub.jpg)
Pirelli revises TyreClub+ B2B platform
Ten years after first launching its B2B tyre sales platform, Pirelli has entirely revised TyreClub+ in order to make it easier and more efficient to use. The new platform was recently launched in Italy and Germany and will reach other markets during 2023.
Continue Reading![Britishvolt, UK car manufacturing and OE tyres](https://www.tyrepress.com/wp-content/uploads/2023/01/cc_by-nc-sa_2.0_advanced_li-ion_battery_by_argonne_national_laboratory-.jpg)
Britishvolt, UK car manufacturing and OE tyres
In May-2020, we needed a lift. We’d all been through the first and arguably harshest lockdown and Prime Minister Boris Johnson modified the COVID-19 message from stay at home, protect the NHS, save lives to stay alert, control the virus, save lives. In other words, not knowing that further lockdowns would follow, the PM was working towards easing restrictions and reopening the economy. Within the automotive sector many tyre specialists, garages and fast-fits had closed along with OEM factories and car dealerships. One result of the latter was that car production figures fell to post-war lows. What better time to back a British electric vehicle battery manufacturing gigafactory? Several projects came to the fore. There was even talk of Elon Musk considering a Tesla gigafactory in the UK. But it was BritishVolt that Boris Johnson put his name to.
Continue Reading![Trelleborg: No reason Yokohama deal shouldn’t be approved](https://www.tyrepress.com/wp-content/uploads/2020/01/Trelleborg-brand-agriculture-1.jpg)
Trelleborg: No reason Yokohama deal shouldn’t be approved
Following the news that the UK Competitions and Market Authority (CMA) has opened an investigation into Yokohama’s acquisition of Trelleborg Wheel Systems (TWS), Trelleborg representatives have clarified that – in their view – “…there are no reasons why this deal should not be approved.”
Continue Reading![Competition and Markets Authority opens Yokohama/Trelleborg Wheel Systems merger investigation](https://www.tyrepress.com/wp-content/uploads/2023/01/calculator-1680905_1920.jpg)
Competition and Markets Authority opens Yokohama/Trelleborg Wheel Systems merger investigation
The Competition and Markets Authority (CMA) has opened an investigation into the proposed merger of Yokohama Rubber Co. Ltd of Trelleborg Wheel Systems Holding AB (TWS). Writing in a statement published on 31 January, CMA officials stated that “pursuant to section 96(2A) of the Act that the merger notice provided by Yokohama [and TWS]…” meets “the requirements of section 96(2) of the [relevant] Act.” In other words, the CMA investigation is a formality for a merger of this kind.
Continue Reading![Bridgestone, Allianz commence European tyre insurance collaboration](https://www.tyrepress.com/wp-content/uploads/2023/01/Bridgestone-Allianz-sml.jpg)
Bridgestone, Allianz commence European tyre insurance collaboration
Together with Allianz Partners, Bridgestone EMIA is rolling out a commercial vehicle tyre insurance programme as the first product in a partnership that will co-create new offers and services around each firm’s key areas of expertise. The programme is fully launched in Italy and being piloted in France, Germany, and the Benelux. The tyre insurance programme covers the replacement of flat tyres caused by sharp objects or curb side collisions, which are typically not protected in the case of damage.
Continue Reading![Yokohama HPT: a new chapter](https://www.tyrepress.com/wp-content/uploads/2023/01/Yokohama-Dawson-Rd.png)
Yokohama HPT: a new chapter
Recent months have seen the appointment of a completely new leadership team at Yokohama’s UK distribution operation, Yokohama HPT Ltd. Well-known in the market for its high-performance passenger car tyre and wheel sales, the appointments signal the start of a new chapter. With that in mind, Tyres & Accessories visited the company’s Milton Keynes headquarters and distribution centre in order to meet with recently-appointed CEO Peter Fairlie; commercial director, Karl Naylor; and marketing manager, Lucie Dalton, in order to find out more.
Continue Reading![Goodyear job cuts: Unanswered questions in the UK and EMEA tyre markets](https://www.tyrepress.com/wp-content/uploads/2023/01/WINGFOOT-ONE-4-scaled.jpg)
Goodyear job cuts: Unanswered questions in the UK and EMEA tyre markets
Goodyear’s decision to cut 5 per cent of its global salaried employees is shocking enough for the firm’s 72,000-strong worldwide workforce. However, the fact that senior executives directly linked that decision to the company’s worse-than-expected performance in the EMEA region (Europe Middle East and Africa) is giving employees in those countries extra cause for concern.
Continue Reading![Goodyear to cut 5% of salaried staff globally, $80 million 4Q loss expected in EMEA](https://www.tyrepress.com/wp-content/uploads/2023/01/goodyear-innovation-center-luxembourg-exterior-20210311.jpg)
Goodyear to cut 5% of salaried staff globally, $80 million 4Q loss expected in EMEA
Goodyear Tire & Rubber Company is planning “rationalization and workforce reorganization” actions that would result in a 5 per cent reduction in salaried staff globally, or about 500 positions. According to executives, the move has been prompted by the “challenging industry environment and cost pressure driven by inflation.” However it is also attributed to weaker-than-expected fourth-quarter results:
Continue Reading![Ceat: Q3 2022 financial results](https://www.tyrepress.com/wp-content/uploads/2020/10/tlo_biz83a-scaled-e1602237521703.jpg)
Ceat: Q3 2022 financial results
Ceat Limited, an RPG Group company, reports consolidated revenue of Rs 27.27 billion (£269.9 million) for the three months to 31 December 2022, the third quarter of its financial year. This result represents a year-on-year increase of 13.0 per cent. EBITDA rose 61.8 per cent year-on-year to Rs 23.14 billion (£229.0 million), with an EBITDA margin of 8.5 per cent, up 256 bps compared with the same period of last year. Net profit stood at Rs 348 million (£3.4 million).
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