Continental’s tyre division contributes 94.4 per cent to group EBIT
Following Continental’s mid-January preview of its key figures for the past financial year, the tyre and automotive supplier has officially released its 2022 full-year figures.
Continue Reading
Kwik Fit returning to Goodwood Festival of Speed
After two successful exhibits in 2021 and 2022, Kwik Fit has announced it will be returning to this year’s Goodwood Festival of Speed between 13-16 July 2023. The automotive servicing and repair company says it is “set to star” at the 2023 event, bringing an “innovative and revitalised presence to the world’s biggest celebration of motorsport and car culture.”
Continue Reading
Arlanxeo expands polybutadiene production in Brazil
Arlanxeo has opened a new 65-kilotonne per annum polybutadiene (BR) production line in Brazil. Angelo Brazil, the company’s LATAM regional head, says that this “state-of-the-art BR production line” is a “direct response” to growing demand for the material in Latin America.
Continue Reading
Record crowd expected for 12th consecutive Continental Tyres-sponsored Women’s League Cup
More than 20,000 tickets have been sold for this weekend’s eagerly anticipated FA Women’s Continental Tyres League Cup Final, as the tyre manufacturer celebrates its 12th consecutive year sponsoring the flagship event.
Continue Reading
Enter the Future: BKT to become an OTR one-stop shop
A fortnight ago, BKT announced its aim of increasing production by around 67% and achieving an annual turnover of US$2 billion in 3 years. The company’s Bhuj facility in western India is key to these plans and will soon manufacture numerous new products, including off-highway truck tyres, agro-forestry radials, tracks and an expanded mining tyre portfolio. BKT shares news of these and other plans.
Continue Reading
Synthos closing Czech ESBR line due to ‘unpredictable costs in Europe’
Synthos is closing its synthetic rubber Emulsion-SBR (ESBR) production line in the Czech Republic due to “the unsustainable market environment for ESBR due to unpredictable costs in Europe”. Synthos will cease ESBR production at its Kralupy, Czech Republic operation in the second quarter of this year.
Continue Reading
Camfin & LongMarch renew Pirelli agreement
Pirelli reports that the shareholder agreement between Camfin SpA and LongMarch Holding S.à.r.l. first signed on 13 May 2020 and modified on 30 June 2021 has been renewed for a further three-year period. The agreement thus remains in place until 13 May 2026.
Continue Reading
Camfin & Brembo sign Pirelli consultation agreement
On 28 February 2023, Pirelli shareholder Camfin SpA and its parent Marco Tronchetti Provera & C. SpA (MTP/Camfin) signed a shareholder agreement with Brembo SpA and Next Investment Srl, together with its parent NuovaFourB Srl (Brembo). The agreement covers Brembo’s commitment to align its vote with that of MTP/Camfin, following prior consultation, on matters included in the agenda at Pirelli’s ordinary or extraordinary shareholder meetings.
Continue Reading
Hankook Tire invests in e-commerce platform Carmerce
Hankook Tire & Technology has become a KRW 3 billion (£1.9 million) pre-Series A investor in South Korean used car e-commerce platform ‘Carmerce’. The tyre maker and start-up signed an investment contract at Hankook & Company’s headquarters on 28 February.
Continue Reading
Tevva, Ecobat sign up for battery management pilot scheme
British electric vehicle manufacturer Tevva has entered into a strategic partnership with Ecobat, a global leader in battery recycling, for the repair, repurposing and recycling of its lithium-ion batteries. The partnership kicks off with a 12-month pilot phase for first-life battery management, with the opportunity to expand into additional energy storage and recycling solutions.
Continue Reading
America first: Continental sister company Schaeffler investing across the pond
Major German automotive components supplier Schaeffler Group, which like tyre and automotive systems firm Continental counts the Schaeffler family’s IHO Holding as a significant shareholder, is shunning investment at home and in Europe in favour of the USA. In addition to more advantageous energy prices, Schaeffler looks approvingly upon the USA’s more pragmatic approach to climate issues.
Continue Reading
Grupo Andrés invests in financial management consultancy iFinanciera
Grupo Andrés, a leading tyre distributor in the Iberian Peninsula, has acquired a 20% stake in specialist financial management consultancy iFinanciera. Explaining the decision to invest, Javier Andrés Herrera states that involvement in iFinanciera is closely linked to the development and growth of Grupo Andrés’ own companies and provides important synergies.
Continue Reading
Titan International: Strong 2022 results, India concerns
Titan International, Inc. has reported record turnover and profitability during the 2022 financial year. While the US-based manufacturer of OTR tyres and wheels increased its net sales by 21.9% to US$2.2 billion, income from operations jumped by more than 141% to $205.8, almost doubling the return on sales to 9.5%.
Continue Reading
SRI joins tyre data association GDSO
Sumitomo Rubber Industries, Ltd. joined the non-profit association GDSO (Global Data Service Organisation for Tyres and Automotive Components) in January 2023 and is now contributing towards industry-wide efforts to establish a means of and standard for identifying, managing and transferring data from individual tyres.
Continue Reading
Wheely Safe appoints MD to lead new UK franchise
Ian Maynard has been appointed managing director of Wheely-Safe (UK), a new, wholly-owned franchise launched to manage sales and aftersales for the automotive technology firm within its home market. It marks the first stage in ambitious new growth plans by parent company Wheely-Safe, part of GX2 Technology, to expand with franchises in key international markets. Each franchise will have access to the full suite of award-winning Wheely-Safe systems, which combine protection against wheel loss with brake/hub temperature monitoring and an intelligent tyre pressure monitoring system (TPMS).
Continue Reading
