Hankook Tire releases latest ESG Report
Hankook Tire & Technology has published its 2022/23 ESG Report, highlighting the company’s sustainability activities, performance, and mid- and long-term strategies for the year. The report, Innovation for a Sustainable Future, is the 14th report published since 2010 and provides an overview of Hankook Tire’s performance in three primary categories: Eco-Value Chain, Sustainable Product, and Responsible Engagement.
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Steve Nash inducted into The Motoring Hall of Fame
Steve Nash, CEO of the Institute of the Motor Industry (IMI) added to the The Motoring Hall of Fame in recognition of the important work he has carried out leading the professional body. The Motoring Hall of Fame, whose official partner is The British Motor Show, recognises individuals and businesses that have made a valuable contribution to the wider automotive industry, especially in improving safety and diversity and inspiring innovation. Steve Nash has been inducted alongside: Dr Andy Palmer, former CEO, Aston Martin and COO, Nissan; Linda Jackson CEO, Citreon 2014 – 2020 and CEO at Peugeot since 2021; and Vera Park ex-Infiniti/Nissan/Renault and now lead exterior designer, Jaguar Land Rover.
Continue ReadingAnyline names Petra Preining as board chair
Anyline has appointed Petra Preining as its first chairperson of the board. Petra Preining will lead the board and ensure as an independent chairperson that Anyline pursues and builds on its strong, future-proof strategy to continue to grow the company.
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Danish authority ends NDI acquisition case as Euromaster prepares to leave
The Danish Competition and Consumer Authority has suspended its investigation into the planned NDI Group acquisition of Euromaster Danmark. Following the collapse of the two companies’ planned merger, the Euromaster Group announced that it will “not continue its activities in Demark” after the end of 2023.
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Goodyear lights up ahead of anniversary
Darkness descended upon The Goodyear Tire & Rubber Company’s former headquarters almost a decade ago. At any rate the illuminated sign atop the building ceased functioning, and this is something that Goodyear and a partner have rectified in the runup to the tyre maker’s 125 anniversary.
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New Yokohama Europe tyre factory could be built alongside a Yokohama TWS plant
Roughly a year ago, then relatively-newly appointed Yokohama Europe president Gregorio Borgo, told us that the company has plans to invest in a factory “at the heart of Europe”. 12 months on, Tyres & Accessories once again spoke with Gregorio Borgo as well as Yokohama Europe chairman Hiroyuki Shiori in order to find out how the company’s growth and its interconnected factory plans have been progressing.
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Textar marks 110 years of braking business
TMD Friction’s Textar braking brand celebrated its 110th anniversary in July, marking more than a century’s supply of high-end braking products.
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‘Stronger together’: the Yokohama TWS off-highway tyre integration delivers many opportunities – Pompei
In May, Yokohama officially completed the acquisition of Trelleborg Wheel Systems. As a result, the well-respected off-highway tyre and wheel manufacturer rebranded as Yokohama TWS. With any acquisition, questions of integration are front-and-centre. In Yokohama’s case, the previous acquisition of Alliance Tire Group, which now runs under the Yokohama Off-Highway Tires (YOHT) banner, brings with it further questions relating to the integration of the businesses and their respective brand portfolios as well as how the different operations will be organised and practically structured in relation to one another. With all this in mind, Tyres & Accessories recently spoke to Paolo Pompei, president and CEO of Yokohama TWS, in order to hear the latest on the integration process.
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Apollo Tyres lifts net profit 124%
The Board of Directors at Apollo Tyres Ltd. reports a 124 per cent increase in net profit during the three months to 30 June 2023, the first quarter of the company’s 2023-24 fiscal year. Chairman Onkar Kanwar credits the efforts of Apollo’s European business towards this result.
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Record H1 2023 sales for Yokohama Rubber, but lower Tires profit
Yokohama Rubber reports another record half-year, with sales in H1 2023 rising by 13.2% to 443.2 billion yen (£2.4 billion). The new Yokohama TWS division, created through the acquisition of the Trelleborg Wheel Systems business on 2 May, contributed greatly to this by delivering sales of 30.5 billion yen (£166.1 million) in the final two of the six reporting months. At the same time, the YOHT division lost 12.0 billion yen (£65.5 million) in sales.
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Two Goodyear associates killed in Nürburgring test incident
Two Goodyear associates based in Luxembourg have been killed in a vehicle incident at the Nürburgring on 9 August. Tyrepress understands from test industry sources that 39-year-old driver Christian Franck, a popular member of the tyre testing community and title-winning motorsport driver from Luxembourg, is one of the deceased. Goodyear told Tyrepress that it is assisting local authorities with their investigation into the incident. Goodyear representatives added that the company is “deeply saddened” that its associates had lost their lives and that its “immediate concern” is for the family, friends, and colleagues of its associates.
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Xingda reports 11% increase in sales volume in 1H 2023
Jiangsu Xingda, a leading tyre cord supplier, registered an 11 per cent growth in sales volume in the first half of 2023. Within the overall sales increase, steel cord sales grew by nearly 12 per cent, bead wire sales grew by 6 per cent, and hose wire sales grew by 12 per cent.
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TireHub plans for future growth
TireHub is now five years old and says it is looking forward to future growth. The US-based national tyre distributor, which was co-founded by Bridgestone & Goodyear, now operates 80 TireHub Logistics Centers and will add more to the network in the coming months, and TireHub also plans to open its first regional distribution centre later this year.
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Continental wins Mitsubishi Logisnext Americas award for third year
Mitsubishi Logisnext Americas (MLA) has named Continental as the winner of its prestigious “Vendor of the Year” award for the third consecutive year. The award recognizes “the outstanding commitment and operational support” demonstrated by Continental through MLA’s original equipment aftermarket program, Rapidparts, in the material handling sector.
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Toyo Tires closing US auto parts operation
Toyo Tire Corporation will end the manufacture of non-tyre automotive parts at its subsidiary in the USA. The cessation of production at Toyo Automotive Parts (USA), Inc. will take effect on 31 October 2023, and the company will be dissolved as a business entity. The closure of the Franklin, Kentucky-based business affects (as of June 2023) 207 employees.
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