![Iochpe-Maxion invests in Autotech Ventures](https://www.tyrepress.com/wp-content/uploads/2021/12/generic01.jpg)
Iochpe-Maxion invests in Autotech Ventures
Wheel manufacturer Iochpe-Maxion is investing US$5.5 million in Autotech Ventures LLC, a US-based venture capital firm. With this investment, Maxion joins Autotech Fund III as a Limited Partner. The investment aims to foster the development of new start-ups and research in the automotive segment with a focus on connectivity, autonomous vehicles, shared vehicles, electrification, and digitalisation.
Continue Reading![Goodyear reports 42% net sales increase in 2021, EMEA back in black](https://www.tyrepress.com/wp-content/uploads/2022/02/Goodyear-EMEA-4Q21.png)
Goodyear reports 42% net sales increase in 2021, EMEA back in black
The Goodyear Tire & Rubber Company has reported full-year 2021 net sales of $17.5 billion, a 42 per cent increase on 2020. According to Goodyear, this was primarily due to “the Cooper Tire merger, higher volume, improvements in price/mix and increased sales from other tyre-related businesses.”
Continue Reading![Heintschel Truck Tire Center joins Pre-Q Galgo network](https://www.tyrepress.com/wp-content/uploads/2020/10/59_QWJzdHJhY3QgYmFja2dyb3VuZCB3aXRoIGVhcnRoLmpwZw-scaled-e1602237450291.jpg)
Heintschel Truck Tire Center joins Pre-Q Galgo network
In the USA, Heintschel Truck Tire Center has joined the Pre-Q Galgo network of independent retreaders. According to the company, the firm’s retread factory averages a seven-day turnaround and also offers OTR repair, foam fill, and wheel refurbishing.
Continue Reading![Fintyre creditor arrangement approved](https://www.tyrepress.com/wp-content/uploads/2022/02/FinTyre-23.jpg)
Fintyre creditor arrangement approved
Fintyre SpA’s creditor arrangement plans were approved by the Court of Brescia on 4 February 2022. The plans filed by Fintyre envisage, among other things, business continuity within the rules of Italian bankruptcy law to the benefit of the company’s approximately 250 employees, according to reports from our Italian sister publication, PneusNews.it.
Continue Reading![MAHA hailed as a world market leader in double award win](https://www.tyrepress.com/wp-content/uploads/2022/02/World_of_MAHA_EN-scaled.jpg)
MAHA hailed as a world market leader in double award win
MAHA has been recognised as a market leader in workshop and automotive testing technology for the fifth year in a row, while also scooping an award as a valuable employer, by economists and a leading German magazine.
Continue Reading![Haohua Tire breaks ground on US$300 million tyre factory in Sri Lanka](https://www.tyrepress.com/wp-content/uploads/2022/02/Haohua.png)
Haohua Tire breaks ground on US$300 million tyre factory in Sri Lanka
Shandong Haohua Tire has broken ground on its previously-announced Sri Lanka tyre production base. Senior managers report that the US$300 million-dollar project’s workshop will be ready in mid-2022 and that the plant will go into production in late 2022.
Continue Reading![United We Play – Apollo Tyres & Man Utd returns with football initiative](https://www.tyrepress.com/wp-content/uploads/2022/02/Apollo-UWP.jpg)
United We Play – Apollo Tyres & Man Utd returns with football initiative
During an event featuring former Manchester United great Dimitar Berbatov, Apollo Tyres launched the second season of United We Play, its pan-India initiative with the football club. Through two selection rounds, Apollo Tyres and Manchester United Soccer School coaches will select up to five young footballers to visit Old Trafford, giving them the opportunity to participate in a training session.
Continue Reading![Competition Commission tyre price fixing hearing underway in South Africa](https://www.tyrepress.com/wp-content/uploads/2022/02/pexels-sora-shimazaki-5668473-scaled.jpg)
Competition Commission tyre price fixing hearing underway in South Africa
The South African Competition Commission tyre price fixing hearing got underway in South Africa on 28 January 2022. The Competition Commission names Apollo Tyres South Africa (Pty) Ltd; Goodyear South Africa (Pty) Ltd; Continental Tyres South Africa (Pty) Ltd; Bridgestone South Africa (Pty) Ltd; and South African Tyre Manufacturers Conference (Pty) Ltd its case and alleges that from around 1999-2007, the respondents “discussed and agreed to fix the prices of passenger, light truck, bus, off-the-road, agricultural and earthmover tyres”. This was allegedly done through the SATMC, an association for tyre manufacturers in South Africa. The respondents were members of the SATMC.
Continue Reading![1782 Trice-Ace tyres recalled by NHTSA](https://www.tyrepress.com/wp-content/uploads/2022/02/Tri-Ace-Pioneer-e1643979008958.jpg)
1782 Trice-Ace tyres recalled by NHTSA
In the USA, Vee Tyre and Rubber Co Ltd is recalling 1782 Tri-Ace branded tyres due to a defect. Two sizes of the Tri-Ace Pioneer A/T III tyres (LT235/85 R16 and LT245/70 R17) are affected. And the recall covers all production dates of the aforementioned tyres.
Continue Reading![Grupo Andres: tyre exports are growth area](https://www.tyrepress.com/wp-content/uploads/2022/02/logoANDRES-2021-valla-publicitaria.png)
Grupo Andres: tyre exports are growth area
20 per cent of Spanish tyre distributor Grupo Andrés’s sales are made outside Spain. And, with the company positioned as market leader in the Iberian peninsula along with investments in systems and infrastructure, sales are projected to grow.
Continue Reading![Sri Lanka: Kelani/CEAT to invest in expanding tyre manufacturing capacity](https://www.tyrepress.com/wp-content/uploads/2020/10/tlo_biz83a-scaled-e1602237521703.jpg)
Sri Lanka: Kelani/CEAT to invest in expanding tyre manufacturing capacity
On 31 January 2022 Kelani Tyres PLC announced plans from the Kelani Tyres/Ceat joint venture to invest up to 3.2 billion Sri Lanka rupees (£11.637 million; 13.915 million euros; US$15.801) in increasing its tyre manufacturing capacity via machinery upgrades.
Continue Reading![4Jet wins 10 million euro order with ‘top 5 tyre manufacturer’](https://www.tyrepress.com/wp-content/uploads/2022/02/csm_Alsdorf_Montagehalle_V1_240dpi_1e5aafa886.jpg)
4Jet wins 10 million euro order with ‘top 5 tyre manufacturer’
4Jet Group reports that it has received new orders worth over 10 million euros from “one of the worlds leading tyre manufacturers”. The machines will be delivered to several of the customers production sites in North America, Europe and Asia in 2022 and 2023. The agreement covers laser systems for marking tyres with machine-readable QR codes or logos, mould cleaning, and gluing preparation for e-mobility tyres.
Continue Reading![Autopromotec extends international workshop programme for 2022 event](https://www.tyrepress.com/wp-content/uploads/2022/02/Autopromotec-2022_Immagine-05.jpg)
Autopromotec extends international workshop programme for 2022 event
Autopromotec’s organisers have extended IAM, the event’s round of six workshops designed to involve players from the various automotive aftermarket supply chains around the world.
Continue Reading![Nexion Group pulls out of Autopromotec 2022](https://www.tyrepress.com/wp-content/uploads/2022/02/Nexion_site_Italy.jpg)
Nexion Group pulls out of Autopromotec 2022
Leading Italian garage equipment maker, Nexion Group, will not participate in Autopromotec 2022 because “the conditions are not yet in place to ensure a presence capable of best representing the prestige of its brands, while guaranteeing the safety of its customers and employees”.
Continue Reading![India’s competition body shares news of tyre maker cartel](https://www.tyrepress.com/wp-content/uploads/2022/02/CCI-logo-sml.jpg)
India’s competition body shares news of tyre maker cartel
Yesterday the Competition Commission of India (CCI) finally made public the news that back in 2018 it found five tyre makers and India’s tyre industry association guilty of contravening the provisions of India’s Competition Act by indulging in cartel activities in 2011 and 2012. All protagonists have been fined for their actions.
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