Goodyear reports net loss of $34 million in third-quarter of 2024, EMEA recovering
The Goodyear Tire & Rubber Company has reported third quarter 2024 sales of $4.824 billion, down 6.2 per cent year-on-year, resulting in a net loss of $34 million compared with a net loss of $89 million a year ago.
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Bridgestone partnering on tyres for ‘kitchen stove’ lunar rover
The Moon is set to become a crowded address over the coming decade, with numerous national and private projects set to land craft, vehicles or people on the lunar surface. Bridgestone Corporation is playing a role through its collaboration with Astrobotic Technology, which centres on the joint development of an advanced lunar rover tyre. This new partnership builds upon the first- and second-generation concept lunar tyres that Bridgestone has already designed and tested.
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Hankook reports 18.6% increase in operating profit
Hankook has reported healthy increases in profitability and high-performance tyre market share in third-quarter 2024 financial results that also indicate that sales grew 4.1 per cent year-on-year.
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Sailun appoints two vice presidents
Sailun reports that two of its vice presidents, Gu Kai and Li Jiqing, have resigned due to work adjustments. After resigning as vice president, Gu Kai will continue to hold other positions in Sailun, and Li Jiqing will continue to serve as a director and secretary of the board of directors.
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Nova Motorsport supplying Avon tyres to HVM Racing championships
Under a recently signed, multi-year tyre supply and sponsorship agreement with France-based historic and classic motorsport promoter HVM Racing, Nova Motorsport will supply period-correct products from its Avon Motorsport tyre range to numerous series across HVM’s Europe-wide portfolio of championships. This new partnership closely follows a similar agreement with the Historic Sports Car Club and further cements Nova Motorsport’s strategic support for all levels of historic motorsport across Europe, dovetailing with the brand’s deep commitment to rallycross and hillclimbing.
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Linglong Tire joins ETRMA
The Board of the European Tyre and Rubber Manufacturers Association (ETRMA) approved the application of Linglong Tire to become a full Corporate Member of the Association with immediate effect.
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Mitas motorcycle tyres & mousse join Cambrian Tyres range
Cambrian Tyres, the UKs largest motorcycle tyre distributor, is adding Mitas motorcycle tyres and mousse products to its expanding portfolio. The first delivery is expected to arrive on 5th November and will initially focus on the adventure and enduro markets, although Cambrian plans to expand the range it offers into other areas early next year.
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Sentury’s production and sales increased in the first nine months
From January to September, Sentury’s revenue and net profit reached 6.34 billion yuan (about £690 million; €820 million) and 1.73 billion yuan (about £190 million; €220 million) respectively.
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Shougang Century Holdings visits Europe to select a site for a new factory
Shougang Century Holdings, a Chinese steel cord manufacturer, is selecting a site for an overseas factory and has visited Southeast Asia and Europe. Shougang Century Holdings said it has accelerated the pace of building factories overseas to “help the company expand its international business”. The steel cord manufacturer has set a goal of “achieving more than 50 per cent of sales from overseas customers” and “establishing a complete global sales, logistics and service network”.
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Doublestar general manager Su Ming resigns
Doublestar said its board director and general manager, Su Ming, submitted his resignation application for personal reasons. The tyre manufacturer has yet to announce who will replace Su Ming as the new general manager.
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Let’s go round again – what’s next for ATD?
On 22 October 2024, American Tire Distributors, Inc. (ATD) filed for Chapter 11 bankruptcy protection with the U.S. Bankruptcy Court for the District of Delaware. It was the second time in around six years that the large – if not the largest – US tyre distributor made such a petition. And ATD did so leaving more than half-a-billion dollars outstanding with some of the world’s largest tyre manufacturers as well as some of some of the fastest-growing tyremakers (see Tyrepress.com and page 27 of the November edition of Tyres & Accessories magazine for further details relating to both the Chapter 11 announcement and how much money is outstanding with which tyremakers). This article is an example of the editorial comment that introduces every edition of Tyres & Accessories magazine. Not a subscriber? No problem, click here to become one.
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Nokian’s new Romania plant to be a milestone for the entire tyre industry
Less than two years after announcing the project, Nokian officially opened its new tyre plant in Oradea on 19 September 2024. The Finnish tyre manufacturer sees the whole thing as a milestone. But not just for itself. First and foremost, it wants to use the new building to increase the production capacity it has lacked since it closed its production site in Russia. Apart from that, however, the plant is also a milestone for the tyre industry as a whole, as it is the industrys ‘first carbon dioxide-free factory’ and demonstrates the potential for sustainable tyre production. The motto of the opening ceremony was therefore ‘Lead to Zero’, which probably means that Nokian sees itself in a pioneering role in this respect.
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Pendragon Vehicle Management, Targa Telematics partner on fleet solutions
Targa Telematics and Pendragon Vehicle Management (PVM) have announced a partnership to offer advanced and comprehensive solutions to fleet customers. The partnership links Targa’s global expertise in developing solutions and digital platforms for connected mobility and one of the UK’s top 15 leasing companies and part of one of the UK’s leading motor groups, Lithia UK. Targa Telematics will provide cutting-edge technology to PVM, enabling them to offer advanced and comprehensive solutions to their fleet customers. PVM will be able to deliver a full suite of fleet management services, leveraging the expertise of one of the largest players in the industry.
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Zeppelin Systems opens new premises in Reggio Emilia, Italy
Full-service provider of turnkey systems, plant manufacturer Zeppelin Systems has opened a new, modern 5,000sqm premises at the competence centre in Reggio Emilia. Together with Nuova Ciba, which was acquired in 2018, Zeppelin Systems has been active in the Italian market for many years. In addition to expanding its production capacities, the company is also pooling its expertise for the tyre and rubber industry, the plastic and polyolefin industry and the food sector with its heterogeneous, modern site.
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Delphi Academy unveils expanded ‘OEM-level’ training centre
Delphi Academy has officially opened its doors following a major expansion project, setting a new standard in aftermarket training. With a £500,000 investment, the Academy now spans 1,430 square meters, making it one of Europe’s largest automotive training centres. Delphi’s training facility in Warwick has doubled in size by extending into a neighbouring unit, with the new wing dedicated specifically to training in hybrid, electric vehicle (EV), and hydrogen technologies.
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