![GS Yuasa Academy online learning platform European launch](https://www.tyrepress.com/wp-content/uploads/2022/11/gs_yuasa_academy_press_2.jpg)
GS Yuasa Academy online learning platform European launch
GS Yuasa has launched its award-winning online battery training platform GS Yuasa Academy across Europe. The system, which the company says is the original and only dedicated battery training hub, now features content in German, Italian, Spanish and Swedish and is available online on the companys dedicated website.
Continue Reading![European operations lead the way as Apollo Tyres reports 16% increase in profitability](https://www.tyrepress.com/wp-content/uploads/2022/11/Apollo.jpg)
European operations lead the way as Apollo Tyres reports 16% increase in profitability
At the end of the second quarter ended 30 September 2022, Apollo Tyres Ltd reported double-digit increases in sales and profitability that point to even great performance in the first-half of the company’s current financial year. And the data shows that company’s European operations are at the forefront of leading the company’s strong performance.
Continue Reading![Iochpe-Maxion adheres to “long-term strategic development”](https://www.tyrepress.com/wp-content/uploads/2022/11/IAA-Maxion-Rad_tb.jpg)
Iochpe-Maxion adheres to “long-term strategic development”
Iochpe-Maxion increased its sales by at least 29.2 per cent worldwide in the past nine months to 12.79 billion Brazilian real (2.47 billion euros). Since pre-tax profits (EBIT) rose meanwhile by only 4.6 per cent to 1.1 billion real (208 million euros), the EBIT margin of the worlds largest wheel manufacturer fell by two percentage points to 8.4 per cent.
Continue Reading![Yokohama Rubber reports record business profit in 9-month 2022 figures](https://www.tyrepress.com/wp-content/uploads/2022/11/Yoko-3Q22biz-seg.png)
Yokohama Rubber reports record business profit in 9-month 2022 figures
The Yokohama Rubber Co., Ltd. has reported nine-month 2022 financial results showing record profitability. Despite a 23.6 per cent decline in operating profit to 45.3 billion yen, Yokohama reported a 24.2 per cent increase in business profit, which amounted to 46.1 billion yen (£281.579 million; 321.040 million; US$330.998 million); and a 33.7 per cent increase in sales revenue, to 615.8 billion yen (£3.761 billion; 4.288 billion euros; $4.421 billion).
Continue Reading![Cooper-Goodyear integration complete? Ryan Patterson leaves Goodyear](https://www.tyrepress.com/wp-content/uploads/2021/03/ryan-patterson-full-scaled.jpg)
Cooper-Goodyear integration complete? Ryan Patterson leaves Goodyear
Goodyear Tire & Rubber’s Akron headquarters report that the integration of Cooper Tire & Rubber is on-track, the man charged with overseeing the integration, Ryan Patterson, has left the company.
Continue Reading![Goodyear EMEA reducing tyre production, exiting TrenTyre after third-quarter operating income fell $51 million](https://www.tyrepress.com/wp-content/uploads/2022/11/Goodyear-3Q22.jpg)
Goodyear EMEA reducing tyre production, exiting TrenTyre after third-quarter operating income fell $51 million
Goodyear’s latest financial results show that third-quarter 2022 group sales grew 7.6 per cent to $377 million up from $5.311 billion and $4.934 billion respectively the preceding two years. According to the company, the increase was driven by pricing actions that drove revenue per tyre (excluding foreign currency) 16 per cent higher than Q3 2021 level. At the same time, sales were impacted by lower tyre volumes, which declined 3 per cent.
Continue Reading![BKT confirms another year as TotY main sponsor](https://www.tyrepress.com/wp-content/uploads/2022/11/BKT_Picture_TractorOfTheYear_TOTY-sml.jpg)
BKT confirms another year as TotY main sponsor
The Tractor of the Year 2023 awards have taken place at the SIMA show, with BKT serving as main sponsor for the third consecutive year. As this year’s winners were announced, the tyre maker also gave word that it would return as main sponsor in 2024.
Continue Reading![Carlton Forest appoints CFO, financial director](https://www.tyrepress.com/wp-content/uploads/2022/11/Carlton-CFO.jpg)
Carlton Forest appoints CFO, financial director
Carlton Forest Group has appointed Mark Horobin its chief financial officer. Horobin, who is ACA (ICAEW) qualified, has enjoyed a successful career in finance with his roles taking him to Denmark, UAE, and Italy in addition to the UK.
Continue Reading![Continental brews up coffee-based upholstery](https://www.tyrepress.com/wp-content/uploads/2022/11/continental_skai_vyp_coffee-sml.jpg)
Continental brews up coffee-based upholstery
In addition to producing tyres and automotive components, Continental has busied itself of late making upholstery fabrics from coffee grounds. This makes the substance remaining after Europeans brew more than 33 billion cups of coffee each year a potentially valuable raw material.
Continue Reading![Goodyear exploring mobility solutions with Drive TLV & Israeli start-ups](https://www.tyrepress.com/wp-content/uploads/2022/11/goodyear-drive-tlv-sml.jpg)
Goodyear exploring mobility solutions with Drive TLV & Israeli start-ups
The Goodyear Tire & Rubber Company announces that it is “teaming up” with Israel-based mobility incubator Drive TLV, with Drive facilitating collaboration opportunities between its network of start-ups and Goodyear. Drive will also connect the Goodyear Ventures capital fund with potential investment opportunities in this start-up network.
Continue Reading![Michelin’s AirCaptif to double production capacity](https://www.tyrepress.com/wp-content/uploads/2022/11/dassault_aircaptif.jpg)
Michelin’s AirCaptif to double production capacity
Inflatable structure specialist AirCaptif, a Michelin company since late last year, has unveiled a new innovation in partnership with Dassault Aviation. At the same time, Michelin announces that AirCaptif plans to double its production capacity from 2023 and bring new talent into the team.
Continue Reading![Farewell Russia? The exit of global players offers long-term growth to domestic firms](https://www.tyrepress.com/wp-content/uploads/2022/11/egor-filin-J5PI9q02Lbk-unsplash-scaled.jpg)
Farewell Russia? The exit of global players offers long-term growth to domestic firms
Global tyre businesses have exited the Russian tyre business as a direct consequence of the Russian government’s decision to invade Ukraine. We all knew this was coming, following initial announcements from the likes of Michelin, Bridgestone and Nokian along those lines in the second quarter of 2022. However, the news that Nokian sold its much-lauded St. Petersburg operation to Tatneft at the end of October indicates that the exodus is underway. And that, in turn, means significant tyre production capacity within Russia has changed hands, something that has an inevitable impact on those departing, those remaining and the wider tyre business. In this column, we take a look at how Michelin, Bridgestone and Nokian have been negotiating their respective exits from Russia and ask what it might mean for the future.
Continue Reading![Volume and price-mix performance current keys to success of premium tyre brands](https://www.tyrepress.com/wp-content/uploads/2022/11/Michelin.png)
Volume and price-mix performance current keys to success of premium tyre brands
Michelin’s third-quarter 2022 sales outperformed consensus expectations by 3.9 per cent. Sharing its third-quarter 2022 financial results, Michelin confirmed its full-year 2022 adjusted pre-tax profit (EBIT) guidance, but it also reduced its free-cash-flow expectations by 0.5 billion euros. But much of the company’s relative success depends on its strong price-mix performance, a factor that is equally important to other premium tyre brands. Here, Tyres & Accessories reads Michelin’s recent third-quarter 2022 financial results in light of the consensus expectations and a recent investor’s note published by Jefferies.
Continue Reading![Bridgestone seeking buyer for its Russia operations](https://www.tyrepress.com/wp-content/uploads/2022/11/BS-Russia-factory.jpg)
Bridgestone seeking buyer for its Russia operations
Following its decision in March to suspend all manufacturing activities in Russia, Bridgestone has officially initiated the process of finding a local buyer for its Russian assets. The process of finding a buyer and closing any subsequent deal is expected to take “several months”.
Continue Reading![Sailun cancels a wholly-owned subsidiary](https://www.tyrepress.com/wp-content/uploads/2022/11/sailun-tyre-exhibition.jpg)
Sailun cancels a wholly-owned subsidiary
On October 27, Sailun held a board meeting and decided to cancel the wholly-owned subsidiary Sailun Tire International Corp (Sailun International). Sailun International’s registered capital is US$1 million, and its registered address is in the British Virgin Islands. The business scope of this subsidiary includes import and export trade, warehousing and distribution, and project investment. Sailun stated that Sailun International’s cancellation would neither significantly impact the company’s overall business nor harm its and its shareholders’ interests.
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