PCL pumped up about Automechanika Frankfurt
After a four-year absence thanks to Covid-related restrictions, PCL is gearing up for a return to Automechanika Frankfurt and its team preparing to welcome customers between 13 and 17 September in Hall 8, Stand H52. The company promises to bring an “innovative package of new products” for visitors to explore.
Continue ReadingUnsatisfied but optimistic: Continental announces Q2 2022 financial results
After an April to June period punctuated by negative EBIT and a net loss, tyre maker and automotive components supplier Continental says it is “looking ahead to the second half of the year with optimism.” It is also maintaining its full-year outlook despite a current headwind that chief financial officer Katja Dürrfeld describes as being “rather like a hurricane.”
Continue ReadingHUK-Coburg buys 25% of tyre retailer Pitstop
In early July, German insurance company HUK-Coburg bought a 25.1 per cent stake in tyre and fast-fit chain Pitstop. HUK-Coburg will now add Pitstop’s garages to its auto service network offering, which sees motorists – both HUK-Coburg insurance customers and non-customers – pre-book basic vehicle servicing online.
Continue ReadingDöktaş joins EUWA
The Association of European Wheel Manufacturers (EUWA) welcomes Döktaş Dökümcülük Ticaret ve San. A.Ş. (Döktas Wheel Systems) as its newest member. The Güriş Industrial Group company is one of Turkey’s leading specialists in the manufacture of grey iron and aluminium goods for the automotive industry as well as for commercial and agricultural vehicles.
Continue ReadingBKT looking to further increase capacity
With capacity expansion projects now completed and being ramped up, BKT anticipates achieving a total capacity of 360,000 tonnes per annum by the end of March 2023. But further growth is necessary if the company is to keep pace with demand for its off-highway tyres. During a conference call with investors on 5 August, the tyre maker confirmed that plans are already “on the drawing board” for additional expansion beyond the current projects.
Continue ReadingPrometeon first to use Rockwell Plex QMS
Commercial and industrial tyre specialist Promoteon became the first customer of Rockwell Automation’s to take on the company’s Plex QMS system during the last three months. The system will be rolled out across Prometeon’s global operations.
Continue ReadingKenda USA gets $35 million of funding from Huntington Business Credit
On 28 June 2022, Huntington Business Credit announced it closed $35 million of new credit facilities with American Kenda Rubber Industrial Co. Ltd. (Kenda USA). According to Huntington Business Credit, the funds were used to “refinance existing indebtedness and provide ongoing working capital growth financing.
Continue ReadingNorgesdekk buys 67% of Valla Däck AB
Norwegian tyre business Norgesdekk has bought 67 per cent of the shares of Valla Dack AB as part of a move into the Swedish market. The Swedish business, which turns 40 this year, had a turnover of more than SEK 190 million in 2021 (£15.444 million; 18.330 million euros).
Continue ReadingGoodyear’s Cooper integration: Almost 500 jobs to go
During the second quarter of 2022, The Goodyear Tire & Rubber Company approved a plan related to the integration of Cooper Tire. This plan aims to streamline the company’s global administrative structure by reducing duplicated positions, and it will also result in the closure of “redundant” Cooper Tire warehouse locations in the Americas. According to Goodyear, the plan will result in “approximately 490 job reductions.”
Continue ReadingNankang and Federal’s cumulative operating revenue declined
In the first week of August, Taiwanese tyre manufacturers Nankang and Federal successively released operating data for July 2022. Nankang’s operating revenue in July was NT$660 million (about £18.22 million; 21.58 million euros), down 10.8 per cent from NT$740 million (about £20.42 million; 24.2 million euros) in the same period last year. From January to July, the tyre maker’s operating revenue was about NT$4.72 billion (about £130 million; 115 million euros), down 3.08 per cent year-on-year.
Continue ReadingNexen Tire extends Eintracht Frankfurt sponsorship
The recently announced continuation of its partnership with Manchester City F.C. isn’t the only football activity that Nexen Tire is maintaining during the current season. The tyre maker has announced an extension of its sponsorship of German Bundesliga club Eintracht Frankfurt e.V. The freshly-reaffirmed partnership will continue through to the 2024/25 season.
Continue ReadingGoodyear: Sales, income up in Q2 2022
Larger than ever following its acquisition of Cooper Tire in 2021, Goodyear Tire & Rubber reported year-on-year net sales growth of 31 per cent in Q2 2022. Sales amounted to US$5.2 billion in the three months to 30 June 2022, and Goodyear states that even excluding the Cooper transaction, this figure reflects year-on-year growth of over 15 per cent. Other factors driving this increase included improvements in price/mix, higher volume, and increased sales from other tyre-related businesses.
Continue ReadingBridgestone expanding motorcycle tyre capacity
Bridgestone Corporation is investing to increase production capacity for motorcycle tyres at its Nasu plant in Japan, its sole motorcycle tyre production facility worldwide. The tyre maker will invest approximately 1.7 billion yen (£10.4 million) to gradually expand output potential from 2026, with capacity rising by approximately 90,000 units.
Continue ReadingMartin Winter appointed ZC Rubber technical director EMEA & Americas
Zhongce Rubber (ZC Rubber) has appointed Martin Winter technical director tire development EMEA & Americas. Winter took up the position on 1 August 2022. He brings with him more than 20 years’ experience of working in original equipment tyre development with Continental, Goodyear, Hankook, and most recently Sentury Tire, where he was global technical director OE. ZC Rubber opened its Europe Technical Center (ETC) in Hannover Germany in 2021. It will use the ETC to support the global development of its original equipment business and to work with key OE accounts in the region. In his new role, Winter will report to Martin Wells, vice president ZC Technical Center & global OE.
Continue ReadingNexen Tire confirms Manchester City 2022/23 partnership
The Premier League begins its 2022/23 season today, and Nexen Tire has confirmed that it will continue its sponsorship of Manchester City F.C. When players take to the field in their encounter with West Ham United on Sunday, the tyre maker’s logo will once again proudly feature on shirt sleeves, as it has since 2017. Nexen Tire first became a Manchester City partner in 2015.
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