GRI acquires Protyre in the Baltics
GRI recently acquired specialty tyre company Protyre in the Baltics. GRI has previously bought Protyre in Estonia as well as Nortire in the region. Together they highlight GRI’s material handling, agriculture, and OEM growth strategy. According to Martynas Jankauskis, managing director, of GRI-owned Nortire, the synergy with GRI is poised to “increase its sales volumes by ten times in the Baltics”.
Continue ReadingSailun: 7 million tyres sold in Europe and counting
As 2021 draws to a close, Sailun reports that it has sold 7 million tyres in Europe “and counting”. Sailun is the 16th largest tyremaker by turnover according to our 2021 ranking of leading manufacturers. The company’s newest production base, which is located in Cambodia, started making tyres on 21 November 2021.
Continue ReadingContinental purchasing rubber via HeveaConnect
With immediate effect, tyre maker Continental will handle a portion of its natural rubber purchasing through HeveaConnect, a digital trading platform designed to ensure greater transparency and sustainability in the natural rubber supply chain. Reporting this new arrangement, Continental’s Dr Andrea Appel explains that the goal is to procure all materials from “responsible sources,” and that the key to achieving this “lies in innovative technologies and digitalisation, which can make a decisive contribution to transparency in complex supply chains.”
Continue ReadingChina: Jilin Linglong begins truck tyre production
A ceremony was held on Tuesday to mark the production of the first TBR tyre at the Jilin Linglong plant in Changchun, China, an event concluding the initial phase of work to set up truck and bus tyre manufacturing capacity in Linglong’s fifth local factory and seventh plant worldwide. Local officials and industry leaders, including management from major vehicle manufacturer China FAW, were on hand to witness this important milestone.
Continue ReadingHandball: Falken sponsoring Euro 2022
Falken Tyres has formed a new partnership with the European Handball Federation. As part of the deal – brokered by Infront – it will benefit from a tailor-made partner package for the 15th edition of the EURO tournament, which is scheduled to take place in Hungary and Slovakia between 13 and 30 January 2022.
Continue ReadingToyo Tire USA raising prices in February
Toyo Tire U.S.A. Corp. will increase the dealer base prices on passenger car, light truck and commercial truck tyre patterns by up to 10 per cent. According to the company, the price increase is a result of continued increases in raw materials and logistics costs.
Continue ReadingGFG Style designing Omni’s Radar tyre range
Singapore-based tyre firm Omni United has commenced a partnership with GFG Style, an Italian automotive design house founded in 2015 upon the design experience of Giorgetto and Fabrizio Giugiaro. Under the partnership, GFG takes on the remit of designing Omni’s flagship brand, Radar Tyres. Omni anticipates that GFG’s influence will “take Radar’s product offering to the next level” and enhance the brand’s consumer appeal.
Continue ReadingCooper integration milestone – production begins in Goodyear plant
Half a year after acquiring Cooper Tire & Rubber, Goodyear reports reaching a “historic integration milestone.” It has begun producing Mickey Thompson ET Front tyres at its Innovation Center Manufacturing (ICM) facility in Akron, Ohio. These are the first Cooper tyres manufactured at a Goodyear facility in the USA.
Continue ReadingBridgestone’s Brisa JV acquires telematics firm Arvento
Brisa, the joint venture between Bridgestone Corporation and Sabancı Holding that holds a leadership position in Turkey’s tyre market, has acquired 88.89 per cent capital shares of Turkish fleet telematics company Arvento Mobile Systems (Arvento) for a consideration of TRY 291 million (£15 million). The transfer price will be subject to some adjustments, taking into account the net debt and working capital levels of Arvento at the closing date.
Continue Reading150th anniversary: Pirelli delegation meets Italy’s President
The President of Italy has received a delegation from Pirelli, headed by executive vice-president and chief executive officer Marco Tronchetti Provera, to mark the company’s upcoming 150th anniversary. Tronchetti Provera described the meeting with President Mattarella as a “great honour” for him and the Pirelli contingent.
Continue ReadingTyre manufacturers to lose $2bn in OE revenues due to semi-conductor shortage
Astutus Research says that the shortage of semi-conductors and other vital components will lead to $2 billion (around £1.5 billion) in lost original equipment tyre revenues in 2021. The analyst notes that demand for new cars is not a factor in the slump in OE stream sales versus expectations, and that a rebound is expected in the coming years when component supply has returned. Astutus Research is currently offering a new report series via Tyrepress, presenting tyre industry forecasts in the wake of Covid-19, which takes into account such dynamics. The series, entitled ‘Beyond Covid-19’ offers market leading data on global original equipment and replacement passenger car and light truck tyre segments. It also offers region-specific PCLT tyre data for Europe, the Americas, and Asia Pacific. A full summary of the 11 available PDF reports with accompanying Excel data-books is available here.
Continue ReadingPrometeon ramps up tyre production in Gravataí, Brazil
Prometeon announced plans to increase production at its Gravatai, Rio Grande du Sul, Brazil at the end of September. According to several local news sources, the expansion plans were announced during a meeting with local Governor Eduardo Leite at the Piratini Palace.
Continue ReadingNexen Tire Europe raises prices
Nexen Tire is raising prices across its entire product range, effective 1 February 2022. According to the company, “rising raw material prices as well as freight and logistics costs” are behind the price hike. No details of the percentage increase have yet been released.
Continue ReadingYokohama Rubber establishing tyre sales JV in Malaysia
From the start of next year, Yokohama tyres will be sold in Malaysia through a newly formed joint venture company. Tyre maker Yokohama Rubber Co., Ltd. will hold a 51 per cent stake in the new Yokohama Tyre Sales Malaysia Sdn. Bhd., with the remaining share held by YHI (Malaysia) Sdn. Bhd. (YHIM), subsidiary of the exclusive distributor of Yokohama tyres in Southeast Asia, YHI International Limited (YHI). Akira Nakamoto has been appointed managing director.
Continue ReadingYokohama offers US$2 billion for Trelleborg Wheel Systems as global off-highway tyre segment consolidates
Yokohama Tire has bid around $2 billion for Trelleborg Wheel Systems in a move that could further expand the Japanese company’s growing off-highway tyre business. Sources close to the bid told Tyres & Accessories that Yokohama is currently in a due diligence process that is likely to be completed during the next month or so. Yokohama previously bid for Prometeon, the ex-Pirelli industrial/off-highway tyre business at the end of 2019. Despite ongoing discussions over the following year or so, that deal wasn’t completed. Yokohama appointed the former global head of Prometeon, Gregorio Borgo, as its European president earlier this year. Trelleborg Wheel Systems executives declined to comment on the reports.
Continue Reading