![Integration on-track: Goodyear reports 16% growth plus greater synergies from Cooper Tire acquisition](https://www.tyrepress.com/wp-content/uploads/2021/11/GY-Replacement-demand.png)
Integration on-track: Goodyear reports 16% growth plus greater synergies from Cooper Tire acquisition
The Goodyear Tire & Rubber Company has published figures that show its third-quarter 2021 sales were $4.9 billion, up 42 per cent compared with a year ago. Of course, much of this increase was driven by the company’s acquisition of Cooper Tire, but growth still came in at 16 per cent with the benefits of the Cooper merger excluded. At the same time, Goodyear executives also reported that the company now expects circa 50 per cent greater Cooper merger-related synergies than before. Specifically, this means a benefit of $250 million in run-rate synergies by mid-2023 up from an initial forecast of $165 million. And what’s more, the company expects to realize approximately $20 million of these savings in 2021. No estimates for 2022 synergies are being released until at least the end of 2021 and more likely February 2022 when full-year 2021 data has been processed.
Continue Reading![Repairify launches at SEMA Show](https://www.tyrepress.com/wp-content/uploads/2021/11/asTech-device.png)
Repairify launches at SEMA Show
New multinational “portfolio company” Repairify is making its industry bow at the US Specialty Equipment Market Association (SEMA) Show in Las Vegas. The company, part of Kinderhook Industries, LLC, includes asTech, the Texas automotive technology firm specialising in remote diagnostics that acquired Dunstable-based RED (EU) Ltd in March 2021, as well as other businesses engaged in automotive servicing, such as adasThink, BlueDriver, FleetGenix, and Mobile Tech RX. Repairify represents Kinderhook’s new strategic initiative to align this family of brands, with the aim to “emerge as a global leader in Automotive Technology and Intelligence to help the automotive collision, mechanical, and dealership sectors master the modern vehicle.”
Continue Reading![Tyre CEOs meet to confirm TIP mandate](https://www.tyrepress.com/wp-content/uploads/2021/11/wbcsd-tip.jpg)
Tyre CEOs meet to confirm TIP mandate
Chief executive officers of ten leading tyre manufacturers convened online yesterday to review progress and confirm the ongoing mandate of the Tire Industry Project (TIP). During the biennial meeting they also approved the project’s next two-year work plan.
Continue Reading![Mickey Thompson, Cooper give Goodyear SEMA award, podium places](https://www.tyrepress.com/wp-content/uploads/2021/11/SEMA-best-new-tire-20211103-scaled.jpg)
Mickey Thompson, Cooper give Goodyear SEMA award, podium places
Mickey Thompson’s Baja Legend EXP off-road have claimed 2021 Specialty Equipment Market Association (SEMA) Show Best New Product Awards in the Tire and Related Product category. Mickey Thompson’s ET Street Front drag tyre and Cooper Tire’s Discoverer Snow Claw were also named runners-up.
Continue Reading![IAA Transportation: New name & focus for major commercial vehicle show](https://www.tyrepress.com/wp-content/uploads/2021/11/IAA-Transportation.jpg)
IAA Transportation: New name & focus for major commercial vehicle show
The organiser of the German exhibition known as IAA Cars for many a year caught the zeitgeist in 2021 and repackaged the event as IAA Mobility, broadening its remit to include cyclists and other mobility stakeholders. Similarly, it is expanding the concept behind the IAA Commercial Vehicles show and giving it a new identity – IAA Transportation. When returning to its familiar home in Hannover from 20 to 25 September 2022 after a prolonged absence, it will for the first time “give actors from the fields of commercial vehicles, buses and logistics the opportunity to network with leading tech providers and suppliers.”
Continue Reading![Tyrexpo Asia moving to Thailand in 2022](https://www.tyrepress.com/wp-content/uploads/2021/11/tyrexpo-asia-bangkok.jpg)
Tyrexpo Asia moving to Thailand in 2022
Singapore has taken a hard line against Covid-19 and continues to enforce international travel restrictions. In order to ensure it can welcome visitors to Tyrexpo Asia 2022, organiser Tarsus Group has decided to hold the event in Bangkok instead. Thailand will allow quarantine-free entry for fully vaccinated travellers from low-risk countries from the beginning of November 2021 with no need to quarantine.
Continue Reading![One Rock renames Eastman’s tyre additives business as Flexsys](https://www.tyrepress.com/wp-content/uploads/2021/11/Flexsys_NewsEvents_LinkedIn_v1-Launch.png)
One Rock renames Eastman’s tyre additives business as Flexsys
On 1 November private equity firm One Rock Capital Partners LLC announced that it had completed the previously announced acquisition of the Eastman Chemical Company tyre additives business. Now the company is being renamed as Flexsys, a tribute to the legacy name of the business. The acquisition of Flexsys marks One Rocks sixth corporate carve-out transaction in 2021.
Continue Reading![TRA urges UK to mirror Australia’s move to end unprocessed end-of-life tyre exports](https://www.tyrepress.com/wp-content/uploads/2020/10/tlo_biz83a-scaled-e1602237521703.jpg)
TRA urges UK to mirror Australia’s move to end unprocessed end-of-life tyre exports
The Tyre Recovery Association (TRA) has spoken out to endorse the move Australian government’s move to prohibit the export of most unprocessed end-of-life tyres from December 2021. The only exception will be casings suitable for retreading or validated reuse. In addition, Peter Taylor, secretary general of the TRA urged DEFRA Secretary of state George Eustice MP to closely study this change in Australian law and consider whether the UK should follow a similar path:
Continue Reading![Bridgestone Vietnam wins Best Supplier award from Toyota Motor Vietnam](https://www.tyrepress.com/wp-content/uploads/2021/11/vbf-2021102815223fja.jpg)
Bridgestone Vietnam wins Best Supplier award from Toyota Motor Vietnam
Recently, Bridgestone Vietnam Tire Trading Co., Ltd and Bridgestone Tire Manufacturing Vietnam Co., Ltd (Bridgestone Vietnam) received the Best Supplier award in 2020 at the Toyota Motor Vietnam (Toyota Vietnam) annual conference.
Continue Reading![NTAW gains Michelin retreading capability via Black Rubber acquisition](https://www.tyrepress.com/wp-content/uploads/2021/11/black-rubber.jpg)
NTAW gains Michelin retreading capability via Black Rubber acquisition
Australian tyre wholesaler National Tyre & Wheel Limited (NTAW) has signed the necessary paperwork for its acquisition of Black Rubber Pty Ltd and Black Rubber Sydney Pty Limited. The transaction, which took place yesterday and is valued at AU$26.3 million (£14.5 million), brings Black Rubber’s import and retreading businesses into the NTAW fold.
Continue Reading![New HQ for Nexen Tire America](https://www.tyrepress.com/wp-content/uploads/2021/11/nexen-tire-ohio-hq.jpg)
New HQ for Nexen Tire America
The US-based subsidiary of Korean tyre maker Nexen Tire has relocated its headquarters from California to Richfield, Ohio. The tyre maker chose Richfield as the site is already home to its North American technical centre, opened in 2019 and one of three that Nexen Tire operates worldwide.
Continue Reading![Raw material as well as shipping costs to remain headwinds](https://www.tyrepress.com/wp-content/uploads/2021/11/tyre-g1abd6ce71_1920.jpg)
Raw material as well as shipping costs to remain headwinds
At the start of 2021 we published a headline suggesting that “shipping costs [were] temporary” and “price increases less so”. While that article was based on the latest third-party data as well as the expert opinion of a leading wholesaler, it now looks like shipping cost woes are set to continue well into 2022 and that – while they have softened recently – raw material costs will remain headwinds during the next year or so as well.
Continue Reading![Australia banning waste tyre exports next month](https://www.tyrepress.com/wp-content/uploads/2021/08/placeholder-sml.jpg)
Australia banning waste tyre exports next month
From 1 December 2021, new laws in Australia will extend a ban on waste exports out of the country to tyres. It follows a cessation of unprocessed waste glass and mixed plastic exports earlier in the year. Reporting this measure, Tyre Stewardship Australia says the change is part of a broader commitment by the Australian Government to reduce waste, increase recycling rates and build capacity in Australia’s recycling industry.
Continue Reading![ATD releases inaugural ESG report](https://www.tyrepress.com/wp-content/uploads/2021/11/ATG-ESG.jpg)
ATD releases inaugural ESG report
American Tire Distributors (ATD), the largest replacement tyre distributor in North America, has published its first Environmental, Social, Governance (ESG) report. With its release, ATD commits to “identify opportunities and invest in solutions that are designed to improve its holistic community impact while delivering unmatched customer service to the entire replacement tyre ecosystem.”
Continue Reading![Michelin third-quarter 2022 sales ‘strong’ – analysts](https://www.tyrepress.com/wp-content/uploads/2021/08/453-Michelin-Britannia-Bus-1200x800-1.jpg)
Michelin third-quarter 2022 sales ‘strong’ – analysts
Following the news that Michelin reported third-quarter 2022 group sales of 6,012 million euros, financial analysts responded by describing the company’s results as “strong”. Michelin’s third-quarter sales figure is both up 8.7 per cent year-on-year and 3.6 per cent above the consensus of analyst expectations (5,801 million euros).
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