Racetrack debut for guayule rubber tyre
Several tyre makers plan to offer tyres containing natural rubber from non-conventional sources. Bridgestone Americas has been working to commercialise guayule shrub rubber for a decade and recently announced the upcoming motorsport debut of a race tyre made with guayule rubber grown and extracted at its R&D facilities. It will introduce the new Firestone Firehawk at the Indy Pit Stop Challenge on 27 May ahead of the race tyre’s competitive premiere in August.
Continue ReadingCity 1st Tyres gains TruckForce Service Award
UK-based truck tyre specialists City 1st Tyres is one of five TruckForce partners that Goodyear has honoured with a TruckForce Service Award for the first quarter of 2022. Announcing the latest recipients, Goodyear states that City 1st Tyres and the other awardees across its pan-European network have “demonstrated exceptional service.”
Continue ReadingSpringwater Capital increases Fintyre capital, becomes majority shareholder
Springwater Capital has completed the strengthening of the capital structure of the large Italian tyre distributer Fintyre, reports our Italian sister website PneusNews. The transaction completes the process started in June 2020 with the request for an arrangement with creditors presented by Fintyre to the Court of Brescia after the exit of Bain Capital, the main shareholder.
Continue ReadingNokian Q1 shows strong growth with Ukraine war effects set to bite in Q2
The effects of the Ukraine war are not present in Nokian’s first quarter reporting, published on 28 April. The company has seen good levels of Q1 growth versus 2021, especially in its car tyre sales, but also in its commercial tyre business. However, with the manufacturer highly leveraged on Russian manufacturing and European sanctions against the country ramping up, it has announced to investors that all bets are off regarding its 2022 forecasts. The negative effects are largely related to passenger car tyre sales – Nokian explains that its “Heavy Tyres” are produced in Finland. It adds that while it has stopped the distribution of these products in Russia, “Nokian Tyres has never sold tyres to the Russian army, and the Russian Federation is not a customer of Nokian Tyres.”
Continue ReadingNokian Tyres expects significant drop in net sales due to Ukraine war
Following the withdrawal of its 2022 guidance on 28 February, Nokian Tyres has commented that it expects net sales and segments operating profit in 2022 to “decrease significantly compared to 2021.” The tyre manufacturer is the most acutely affected by the Ukraine-Russia war, as analysis previously published on Tyrepress shows.
Continue ReadingHilllhead 2022 ready for blast-off
The organisers of Hillhead 2022, a frequent meeting point for OTR tyre suppliers, have signalled the start of the countdown to the 21-23 June event with a bang. Carried out by EPC-UK, two sections of the quarry face in the Demonstration area at the north end of the site were recently drilled and blasted to produce around 30,000 tonnes of run-of-quarry stone for equipment demonstration purposes at this year’s show.
Continue ReadingMichelin: Q1 sales up 19% to 6.5 billion euros
Michelin Group has reported that its first quarter 2022 sales amounted to 6.5 billion euros, a 19 per cent increase on the first quarter of 2021. According to the company, price increases and strengthening replacement demand helped it offset headwinds including operation disruptions and inflationary pressures exacerbated by the conflict in Ukraine plus the resurgence of Covid-19 in China.
Continue ReadingUK government blocks Russian and Belarussian tyre, rubber product imports with 35% tariff increase
On 25 April 2022, the UK Government announced a further tranche of trade sanctions against Russia. The new sanctions, which were introduced by International Trade Secretary Anne-Marie Trevelyan and Chancellor of the Exchequer Rishi Sunak, include import bans on silver, wood and high-end products like caviar. At the same time, the government has raised tariffs by 35 percentage points on items from Russia and Belarus, including diamonds and “rubber products”. Additional duties of 35 per cent were already introduced on “new pneumatic tyres, of rubber” on 25 March 2022.
Continue ReadingTerraClean marks a decade in the UK, having driven £35m into UK garage trade
TerraClean has driven £35 million of revenue into the UK automotive garage trade, according to the brand, which is celebrating 10 years in the UK in 2022. The network of DPF cleaning and engine decarbonizing specialists has seen its numbers grow to more than 500 locations throughout UK and Ireland and looks set to grow further with an active marketing campaign this year.
Continue ReadingRepairify completed 12.4m diagnostic scans in record 2021
Repairify, asTech’s parent company, capped a year of unprecedented growth and expansion having completed more than 12.4 million automotive diagnostic scans across its family of automotive technology brands, delivering more than 4.9 million diagnostic reports across the collision, mechanical, dealership, auction, and reconditioning repair markets.
Continue Reading6.5 million all-steel radials a year: Assessment for ZC Rubber’s proposed factory
An environmental impact assessment has commenced for the all-steel radial tyre plant that Zhongce Rubber Group (ZC Rubber) intends to build in Hangzhou, China. Subsidiary Hangzhou Zhongce Qiantang Industrial intends to set up the 6.5 million tyre a year greenfield facility in the Xiaoshan Linjiang High-tech Industrial Park; stakeholders now have an opportunity to comment on the project’s potential ramifications.
Continue ReadingContinental revises 2022 outlook, publishes preliminary Q1 results
Due to several factors, Continental is adjusting its outlook for fiscal 2022. The company expects global production of passenger cars and light commercial vehicles to increase by between four and six per cent year-on-year in 2022, a lower rate than the six to nine per cent growth that the prior outlook (published 9 March 2022) was based on. Negative effects from cost inflation for key inputs, especially for oil-based raw materials as well as for energy and logistics for the Tires and ContiTech businesses, are also becoming significantly more material.
Continue ReadingGrouptyre member EG Wholesale opens Isle of Wight warehouse
Independent tyre distributor EG Wholesale has opened a new warehouse in Newport, Isle of Wight. The company is one of 10 members of leading independent tyre wholesaler Grouptyre. The new EG Wholesale site is located at 44-50 South Street, Newport, PO30 1JG. Managing director Richard Whittemore said, “The central location in Newport is fantastic and allows us to provide a reliable delivery service across the whole island. As well as reliable delivery, we have excellent product availability and competitive pricing, which are encompassed in Grouptyre’s ‘National Strength, Local Service’ philosophy. We also pride ourselves in being a local, independent tyre supplier who delivers the personal touch you would expect from a family business. Our experienced and friendly wholesale team are always on hand to help.”
Continue ReadingHella expands Großpetersdorf, Austria site with tool warehouse, logistics hall
Hella has expanded its site in Großpetersdorf, Austria. The company’s subsidiary, Hella Fahrzeugteile Austria GmbH has invested in the construction of a new 450sqm tool warehouse on three levels and a 600sqm logistics hall. The investment will also cover the renewal and expansion of machinery. The developments, in which the company is investing several million euros, are scheduled for completion by the end of 2022.
Continue ReadingDetecting tyre wear with waveforms – Yokohama Rubber unveils new method
Yokohama Rubber and Alps Alpine have jointly developed a technology that automatically detects wear in car tyres. The tyre maker sees potential for this technology in self-driving vehicles and shared mobility fleets.
Continue Reading