Nexen plans Czech expansion, US plant to increase capacity and sales over next 5 years
Nexen plans to expand its production capacity by 40 per cent within five years. It plans to achieve this by building a new tyre factory in the United States and to expand its existing Czech factory. According to Korean media reports, Nexens factory in Zatec, Czech Republic, will complete the expansion project in September this year, following its 2019 official opening. Progress on the expansion project, which commenced immediately after opening, was delayed by the Covid-19 pandemic. Nexen has invested 1.2 trillion won (approximately £732 million) in the expansion of the Czech factory. Before the expansion, the factory was able to produce 5.5 million tyres per year. After the expansion phase in 2024, the production capacity is expected to be 9.2 million tyres. By 2025, it is expected the production capacity to increase further to 11 million tyres.
Continue Reading
Continental financial results – tyre group drives earnings, despite softening replacement sales
Continental’s half-year report shows that its Tires group sector is driving earnings, with 88 per cent of adjusted EBIT from tyre sales. “Despite difficult market conditions, our Tires group sector ended the second quarter with good earnings once again. ContiTech’s performance remained solid. Earnings in Automotive, however, fell short of expectations. Here we will need to make up considerable ground in the second half of the year. By doing so, we will also improve our consolidated margin,” commented Continental CEO Nikolai Setzer.
Continue Reading
Vipal Rubber celebrates 50 years
It was at a gas station in 1960 that Vicencio Paludo found the opportunity that would make him start the company that is now 50 years old, Vipal Rubber. The only one in the world with a complete line of products for retreading and repairs for passenger, commercial, agricultural and off-the-road (OTR) tyres, the company was born from a latent need: to offer lorry drives a solution to their tyre problems. From the first patches, going through the production of camelbacks, treads, and tyre retreading machines, to the manufacture of new tyres for motorcycles, one of the largest rubber manufacturers in the world emerges.
Continue Reading
Bridgestone profit up in H1 2023 despite weakness in Europe
Bridgestone Corporation improved its sales and profit in the second quarter, contributing to H1 2023 revenue of 2.10 trillion yen (£11.52 billion), up 11.4% year-on-year. Operating profit increased 15.3% in the first half of the year, to 238.30 billion yen (£1.31 billion), even without the EMIA region contributing to this overall positive development. Profit margin increased 0.3 points in H1 2023, to 11.3%.
Continue Reading
Webfleet sets EV van range record
Bridgestone shares that its Webfleet fleet management solution has “smashed” the Guiness World Records title for the greatest distance travelled by an electric van on a single charge. Webfleet-sponsored drivers Kevin Booker, Sam Clarke and Fergal McGrath drove a Fiat E-Scudo fitted with Bridgestone Duravis tyres 311.18 miles (500.8 km) in total.
Continue Reading
Brocks Wheel & Tyre fits Bridgestone VX-Tractor tyres on new 3S wheel brand
Essex agricultural rim manufacturer, Brocks Wheel & Tyre (BWT) has launched a new wheel brand, 3S, and is fitting Bridgestone’s VX-Tractor as original equipment. The new brand is the company’s first since it was founded 15 years ago in Thaxted, where the company now employs 16 members of staff. Director Will Brock and son Eugene, the company’s business development director, launched 3S at the Royal Highland Show in June. They say demand is already high for the UK manufactured wheels, which are also being supplied as an option in an eye-catching powder-coated chrome finish.
Continue Reading
Toyo Tires climbs to IFSC World Championship summit
Toyo Tires is supporting the International Federation of Sport Climbing (IFSC) World Championships between 1-12 August in Bern, Switzerland. The tyre-maker’s participation comes in line with its new partnership with the IFSC, announced in June. Toyo’s European CEO, Kenta Kuribayashi said that Toyo’s partnership was inspired by the sport’s growing global community, which “resonates with Toyo Tire’s philosophy” of “creativity and innovation”.
Continue Reading
GB Tyres buys Nordic Tyres
GB Tyres has bought Nordic Tyres (UK) Ltd. Nordic Tyres, which is based in Dumfries, Scotland, was established in 1999 and has become a well-known name in the UK agricultural and forestry tyre sectors. Alan Lindsay, managing director, Nordic Tyres will remain in the business.
Continue Reading
LKQ Corporation completes Uni-Select acquisition, reiterates GSF divestment
On 3 August, LKQ Corporation (LKQ) and Uni-Select Inc confirmed that the previously-announced acquisition of Uni-Select by 9485‑4692 Québec Inc, which is a wholly-owned subsidiary of LKQ, officially completed on 1 August 2023. This follows a complex and ongoing monopoly-related investigation by UK authorities.
Continue Reading
Hankook recognised with award for best fan experience in 2023 Formula E World Championship
Hankook has been recognised for its contribution to the fan experience in its first season as official technical partner and tyre supplier of the ABB FIA Formula E World Championship. The tyre supplier was presented with the award for best fan experience at the official Season 9 Awards Gala following the season finale at the 2023 Hankook London E-Prix, recognising its presence in the racing series’ Allianz Fan Village. Hankook welcomed thousands of fans around the world to its interactive exhibition area, which focused on sustainability and its exclusive tyre partnership with the all-electric race series.
Continue Reading
Nokian Tyres boosts USA plant workforce by 125
When announcing expansion plans for its North American plant in January 2023, Nokian Tyres said it would increase the workforce to 475 by hiring 75 new employees. The company has now completed the recruitment process, having hired 125 new workers for the Dayton, Tennessee factory as part of plans to double production at the facility by 2024.
Continue Reading
SRI profit down in H1 2023
Sumitomo Rubber Industries, Ltd achieved lower profit in H1 2023 despite increasing sales and operating profit. The company has nonetheless upwardly revised its full-year profit forecast from 21,000 million yen to 23,000 million yen (£127.1 million, US$162.2 million).
Continue Reading
Ceat acquires remaining Tyresnmore shares
Indian online tyre retailer Tyresnmore.com is now a wholly owned subsidiary of Ceat Ltd. On 4 August, the tyre maker entered into a share purchase agreement with Tyresnmore Online Private Limited to acquire 108,637 equity shares in the business, an amount equal to a 39.34% of its total share capital.
Continue Reading
Intelligent tyres: Tire Society details 42nd annual conference papers
The Tire Society has published the details of presentations scheduled for its 42nd Annual Conference (12-13 September 2023, at the University of Akron, Ohio). In addition to in-person attendance, benefitting from live Q&A, sponsor exhibits and a student poster session, registrants can access the presentations after the Conference via a “play-on-demand” feature. Registration includes Tire Society Membership, which gives access to the critically reviewed Tire Science and Technology Journal.
Continue Reading
Boeing, Michelin extend global distribution arrangement
Michelin North America, Inc. and Boeing have signed a renewal of the two parties’ authorised distribution agreement, extending the current agreement through December 2028. The agreement reaffirms Boeing Distribution as a global distributor for Michelin’s full line of cross-ply and radial aviation tyres, as well as tubes for the business, commercial, regional, military and general aviation markets.
Continue Reading
