Apollo Tyres optimises North West Cluster leadership
Apollo Tyres Ltd has made two management changes in order to “optimise” the team that leads its North West Cluster within Europe. Fabian Ezendam has been appointed new International Key Account Manager with immediate effect, responsible for overseeing some of the company’s largest international accounts, including Global Automotive Investment Holdings, LKQ and the Automotive Group.
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Back-to-back cycle challenges raise £225,000 for Transaid
The transport and logistics industry has successfully fielded two strong teams of riders to complete Transaid cycle challenges both in the UK and Kenya, raising more than £225,000 towards the international development organisation’s projects in sub-Saharan Africa.
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ATD up for sale as large US tyre wholesaler enters bankruptcy proceedings
American Tire Distributors, Inc. (ATD) has filed Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware in parallel with entering a restructuring support agreement (RSA) with lenders representing approximately 90 per cent its outstanding obligations. At the same time, the firm reported that it is “contemplat[ing] transitioning ownership of the company through a competitive sale process”.
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Xingda wins 2024 Pirelli Supplier Award
At the Pirelli Supplier Day 2024, held in Milan, Italy, Xingda, the metal reinforcements manufacturer from China, won a Supplier Award in Excellence. This is the third time that Xingda has won a Pirelli prize for suppliers.
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Linglong increases profit in first three quarters
Linglong reports net profit attributable to shareholders in the first three quarters was between 1.65 billion yuan (about £179 million; €215 million) and 1.75 billion yuan (about £190 million; €228 million). At the same time, the tyre manufacturer said it actively upgraded its products in 2024 and continued to make structural adjustments in the domestic and foreign retail and OE markets. In addition, the company’s second overseas base (its Serbia factory) has gradually released production capacity to support production and sales growth in overseas markets.
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Michelin building car tyre plant in India
Last month, Michelin laid the foundation stone for a new passenger vehicle tyre production facility at its Tiruvallur plant in India. The tyre maker is investing Rs 5.64 billion (£51.62 million) to expand the Tamil Nadu site, which opened as a truck and bus plant in 2013.
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Eurogrip-branded EV tyres under development
Eurogrip-branded electric vehicle (EV) tyres are on their way, as Indian tyremaker TVS Srichakra reported that it is developing advanced fuel-efficient tyres made for EVs and primarily targeting the Indian market.
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Kumho launches tyre digital twin system
Kumho Tire has developed a digital twin (DT) system which engineers are applying to the tyre development process. According to the company, Kumho’s DT system has been developed by incorporating “big data analytics, artificial intelligence, digital transformation and Computer Aided Technologies (CAE)” into the tyre development process.
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Point-S Spain continues to grow
Point S Spain now consists of a total of 30 workshops as the retail group’s expansion in the Iberian peninsula continues. The news, published on social media on 21 October 2024, comes as a result of Motauto’s membership of Point S.
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Guizhou Tyre can produce 57-inch tyres
In the first half of 2024, Guizhou Tyre’s revenue and net profit were 5.174 billion yuan (about £560 million; €670 million) and 427 million yuan (about £46 million; €55 million), up 16.51 per cent and 25.67 per cent year-on-year. During the reporting period, the company produced 4.7942 million tyres, up 18.81 per cent year-on-year, and sold 4.7175 million tyres, up 19.75 per cent.
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Guizhou/Advance Tyre’s Vietnam factory 6-million-tyre project gains approval
Earlier in October, Guizhou Tyre reported that phase III of its Vietnam factory project had made new progress, and “all domestic and overseas investment approval and filing procedures have been completed”. As a result, now the tyre manufacturer “will actively promote the construction of the Vietnam phase III project and strive to put it into production as soon as possible”.
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Brembo buys suspension manufacturer Öhlins
Less than three weeks after Brembo sold its Pirelli shareholding, the well-known brake manufacturer has announced that it has bought Sweden-based suspension firm Öhlins for $405 million, (about 370 million euros), paid using available cash”. The deal is the largest acquisition in Brembo’s history.
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Ex-Trinseo VP appointed Orion CTO
Orion S.A., which supplies speciality chemicals such as carbon black to automotive firms including tyremakers, has named Natalia Scherbakoff as the company’s new chief technology officer (CTO). Scherbakoff succeeds David Deters who previously led Orion’s global innovation program for over a decade. Deters announced his retirement earlier this year and will remain with Orion through the end of 2024.
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Football – Sailun extends FC Ingolstadt 04 partnership
Sailun has extended its premium partnership with German football club FC Ingolstadt 04, giving the tyre brand a continued LED board advertising presence at the team’s home pitch until 2027. It will also continue to be responsible for the tyres on the team bus.
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Titan repurchases 8 million shares
Titan International Inc. reports that it has repurchased 8.0 million shares from MHR Fund Management. Titan bough back the stock for a total of $57.6 million ($7.20 per share) in cash. MHR Fund Management is led by Mark Rachesky, who has been a member of Titan International Incs board of directors since 2014.
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