![Pierre Michelin moves closer to the ‘family-origin’ business](https://www.tyrepress.com/wp-content/uploads/2021/08/placeholder-sml.jpg)
Pierre Michelin moves closer to the ‘family-origin’ business
Following the publication of Michelin’s first quarter 2022 financial results, group CEO Florent Menegaux commented on the appointment of Pierre Michelin as president of the Michelin family’s Mage-Invest holding company. Mage-Invest holds 4.2 per cent of the shares and 7 per cent of the voting rights of Michelin Group.
Continue Reading![Prometeon launches Pirelli-branded Serie 02 truck tyre range](https://www.tyrepress.com/wp-content/uploads/2022/05/FROM-LEFT-ROBERTO-RIGHI-FRANCESCO-ANTONACCI-ALEXANDRE-BREGANTIM-SABINA-ORIANI-scaled.jpg)
Prometeon launches Pirelli-branded Serie 02 truck tyre range
In early May, Prometeon Tyre Group launched its Pirelli-branded Serie 02 truck tyre range in Venice, Italy. More than 200 customers from 10 countries were invited to learn about the launch of the Serie 02, which has been on sale in the EMEA region since April. General manager Roberto Righi, chief technical officer Alexandre Bregantim, head of marketing Sabina Oriani and region Europe CEO Francesco Antonacci were all on-hand to explain about Prometeon’s latest products and strategies.
Continue Reading![Pirelli testing tyres year-round in Sweden](https://www.tyrepress.com/wp-content/uploads/2022/05/Rimac-Pirelli-Testing-Site-Sottozero-Center-Sweden-sml.jpg)
Pirelli testing tyres year-round in Sweden
Product testing at the Pirelli Sottozero Centre in Lapland, Sweden is now taking place in summer as well as winter. Pirelli says it switched the facility to year-round testing in response to increased demand for product development on both wet and dry roads, particularly for all-season and winter tyres. The team at the Sottozero Centre recently wrapped up its winter test programme for the season and is now beginning the summer programme.
Continue Reading![BKT profit rises 22% in 2021-22](https://www.tyrepress.com/wp-content/uploads/2022/05/BKT_Off-Highway_Range-sml.jpg)
BKT profit rises 22% in 2021-22
Although impacted by the rising cost of raw materials and logistics, off-highway tyre specialist BKT delivered a healthy profit in the financial year ending 31 March 2022. Profit after tax rose 22 per cent year-on-year to Rs 14.11 billion (£148.58 million) on the back of income that rose 47 per cent to Rs 84.19 billion (£886.52 million) and sales volumes that increased 27 per cent to 288,795 tonnes. EBITDA was, at Rs 21.82 billion (£229.76 million), up 21 per cent, with the margin contracting 5.6 percentage points to 25.9 per cent.
Continue Reading![Clarios, Natron launch sodium-ion battery collaboration](https://www.tyrepress.com/wp-content/uploads/2022/05/meadowbrook.png)
Clarios, Natron launch sodium-ion battery collaboration
Sodium-ion batteries offer a number of advantages compared with their lithium-ion counterparts. Natron Energy, Inc. has spent ten years perfecting sodium-ion battery chemistry for mass manufacturing, and in 2021 released the world’s first UL listed sodium-ion battery product. It has now entered into a strategic agreement with Clarios International Inc. that will result in the world’s first mass-produced sodium-ion batteries.
Continue Reading![Four-for-one split for Michelin shares](https://www.tyrepress.com/wp-content/uploads/2022/05/michelin-sign-logo-sml.jpg)
Four-for-one split for Michelin shares
Shareholders at the Annual Meeting of Compagnie Générale des Établissements Michelin on 13 May voted in favour of splitting the par value of the Michelin share into four. Michelin explains that this decision is linked to the 66 per cent rise in the share price between 31 December 2018 (€86.70) and 31 December 2021 (€144.15).
Continue Reading![Triangle scraps US tyre factory project](https://www.tyrepress.com/wp-content/uploads/2020/10/59_QWJzdHJhY3QgYmFja2dyb3VuZCB3aXRoIGVhcnRoLmpwZw-scaled-e1602237450291.jpg)
Triangle scraps US tyre factory project
Triangle Tire has scrapped its plans to a build roughly half-a-billion dollar tyre factory in North Carolina, USA. According to the company, the project which had been strongly supported by local government officials in North Carolina was ended amicably with mutual consent.
Continue Reading![Birla Carbon rated Platinum by EcoVadis for sustainable business practices](https://www.tyrepress.com/wp-content/uploads/2022/05/Eco-Vadis.png)
Birla Carbon rated Platinum by EcoVadis for sustainable business practices
Birla Carbon has been awarded a Platinum level rating by EcoVadis for sustainability. This recognition confirms Birla Carbon’s position as an industry leader in advanced sustainability practices and reporting and places it in the top 1 per cent of companies rated by EcoVadis. The rating was provided after reviewing Birla Carbon’s sustainability practices in its recently published ninth sustainability report, Driving Circularity.
Continue Reading![Falken presenting e.Ziex at Tire Cologne](https://www.tyrepress.com/wp-content/uploads/2022/05/Falken-2022-Tire-Cologne.jpg)
Falken presenting e.Ziex at Tire Cologne
Later this month, Falken Tyre Europe will display a range of more than twenty tyre models at The Tire Cologne. This array of products will include several newcomers, such as the Falken e.Ziex electric car tyre, Azenis FK520 UHP tyre and Eurowinter HS02 and HS02Pro winter tyres.
Continue Reading![Apollo Tyres FY 2021-22 financial results](https://www.tyrepress.com/wp-content/uploads/2022/05/apollo-tyres.jpg)
Apollo Tyres FY 2021-22 financial results
Apollo Tyres reports revenue of Rs 209.48 billion (£2.22 billion) for the financial year ending 31 March 2021, 20 per cent higher than during the prior fiscal year. EBITDA declined 8.0 per cent year-on-year to Rs 25.74 billion (£272.59 million), with the EBITDA margin contracting 379 Bps to 12.3 per cent. Net profit stands at Rs 6.39 billion (£67.67 million).
Continue Reading![Yokohama Rubber: Record sales, lower profit in Q1 2022](https://www.tyrepress.com/wp-content/uploads/2022/05/Yokohama-Q1-2022.jpg)
Yokohama Rubber: Record sales, lower profit in Q1 2022
Although the sales revenue of 185.6 billion yen (£1.2 billion) earned by the Yokohama Rubber Co., Ltd. in Q1 2022 was the highest figure it ever achieved in the January-to-March quarter and a 28.4 per cent improvement on the result attained a year earlier, the company nonetheless had little cause for celebration by the time rising costs and other complications were factored in. Profit attributable to owners of parent declined 63.5 per cent year-on-year in the first quarter of 2022 to 10.2 billion yen (£64.9 million). Operating profit was, at 13.7 billion yen (£87.1 million), down 62.7 per cent.
Continue Reading![Roadmap Zero: Iochpe-Maxion sets carbon neutrality target](https://www.tyrepress.com/wp-content/uploads/2022/05/Roadmap-Zero.jpg)
Roadmap Zero: Iochpe-Maxion sets carbon neutrality target
Iochpe-Maxion, the world’s largest wheel supplier and the leading structural components supplier in the Americas, has set an objective of becoming a carbon neutral supplier by 2040. This target, Roadmap Zero, is the focus of all sustainability developments at the global Tier One.
Continue Reading![Pirelli Q1 EBIT up 35%, but full-year estimates revised down](https://www.tyrepress.com/wp-content/uploads/2022/03/Pirelli-Russland-klein-.jpg)
Pirelli Q1 EBIT up 35%, but full-year estimates revised down
Pirelli & C. Spa has reported a strong set of first quarter 2022 results which show revenues and pre-tax profits (adjusted EBIT) were up 22.2 per cent and 35.4 per cent respectively despite considerable turmoil related to the war in Ukraine and the resultant sanctions against Russia, where Pirelli runs two tyre factories. However, the tyre manufacturer has also revised down full-year estimates due to the same “geopolitical tensions”.
Continue Reading![Continental: Lower income despite strong tyre business in Q1 2022](https://www.tyrepress.com/wp-content/uploads/2022/05/Conti-since-1871-sml.jpg)
Continental: Lower income despite strong tyre business in Q1 2022
Announcing its financial results for the first quarter of 2022, tyre maker and automotive technology firm Continental states that it “performed well” during the period despite “an increasingly turbulent market environment.” It describes its Q1 2022 tyre business as “strong.”
Continue Reading![Goodyear a DAF ‘Master’ supplier](https://www.tyrepress.com/wp-content/uploads/2022/05/Goodyear-DAF-sml.jpg)
Goodyear a DAF ‘Master’ supplier
Truck manufacturer DAF recently recognised Goodyear as a ‘Master’ in its 2021 Supplier Performance Management Program. This is the first time that Goodyear has reached this level, and the tyre maker attributes the achievement to the ”work and dedication of its teams who constantly seek to improve the total customer experience year over year.” It particularly praises its teammates for maintaining Goodyear’s “high standards of operational excellence” despite a disruptive macro environment.
Continue Reading