Triangle’s net profit fell sharply in the third quarter
Triangle’s third-quarter report shows its net profit from July to September fell sharply. In the third quarter of 2024, Triangle’s revenue was 2.61 billion yuan (about £290 million; €340 million), a year-on-year decline of 2.49 per cent; the tyre manufacturer’s net profit attributable to shareholders of listed companies was 270 million yuan (about £30 million; €35 million), a decline of 39.59 per cent.
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Cheng Shin increases capital for Indian factory
Taiwan tyre manufacturer Cheng Shin Rubber has decided to increase the capital of its Indian subsidiary Maxxis Rubber India Private Limited through its funds. The capital increase is about 3.36 billion rupees (about £32 million; €38 million).
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Yokohama 507U tyres factory-equipped on Isuzu Erga EV bus
The Yokohama Rubber Co. Ltd. has begun supplying its 507U rib-lug tyres for low-floor buses to Isuzu Motors Limited for use as standard equipment on firm’s Erga EV, a battery-electric flat-floor route bus, which was launched in May 2024. The 507U bears Yokohama Rubber’s proprietary “E+” mark to indicate that it has special qualities suitable for electrified vehicles. The ERGA EV is being equipped with 275/70R22.5 148/145J size tyres.
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Solar farm aiding Maxion Wheels’ Chihuahua plant
Maxion Wheels has integrated solar power into its light vehicle aluminium wheels facility in Chihuahua, Mexico, following the launch of its own 499 kW capacity photovoltaic system that can deliver an estimated annual generation of 960 MWh. By reducing CO2 emissions by approximately 420 tonnes per year, equivalent to the annual growth of 6,930 trees, the solar farm will supply around two per cent of the plant’s annual energy needs.
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Bridgestone expanding high rim tyre capacities in Japan
Bridgestone Corporation is investing to expand capacity at three of its passenger car tyre production facilities in Japan. With a total investment of approximately 27 billion yen (£139.1 million) in the Hikone, Tosu and Tochigi plants, the company will boost capacity for Enliten and larger rim diameter tyres. Bridgestone will lift overall production capacity by around 3,000 tyres a day, mainly in the 20-inch and larger size category where the company anticipates growing demand. It will start work on the project early in 2025 and plans to complete it by the end of 2028.
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Kumho Tire announces 36% expansion for Vietnam plant
At a meeting with local government officials on 13 November, Kim Hyun Ho, General Director of Kumho Tire Vietnam, informed that the Kumho Tire subsidiary intends to invest US$300 million to increase the plant’s passenger car and light truck tyre production capacity by 4.5 million units a year, to a total annual capacity of 17 million tyres. This 36 per cent capacity increase, phase 3 of expansion at the 2007-opened plant in Binh Duong Province, will bring total investment in the facility to $908 million.
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Ex-Bridgestone plant in Russia resumes operations
The Cordiant Group of Companies reports that the former Bridgestone tyre plant in Ulyanovsk, Russia – now rebranded as a Gislaved facility – has resumed operations. In a statement, Cordiant shares that the relaunch of the Ulyanovsk facility begins with the production of a new Cordiant-branded summer tyre model. The plant’s product range will gradually expand in 2025, including the introduction of premium models under the Gislaved brand name. Winter tyre production is scheduled to commence in the first half of 2025.
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Linglong Serbia enters profit in Q3
In response to investors’ questions, Linglong reports its Serbian plant was profitable in the third quarter of 2024 “with a high overall production and sales rate and gradually improving profitability”. In the third quarter, the tyre manufacturer held a grand celebration ceremony to indicate that its Serbian plant had achieved mass production.
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China continues anti-dumping duties on NBR products from Japan and South Korea
On 8 November, China’s Ministry of Commerce announced that it would continue to impose anti-dumping duties on Acrylonitrile-butadiene rubber (NBR) originating in South Korea and Japan. The Ministry of Commerce ruled that “if the anti-dumping measures are terminated, the dumping of imported nitrile rubber originating in South Korea and Japan to China may continue or reoccur, and the damage to China’s NBR product industry may continue or reoccur”.
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Kumho hosts “Bloc Meeting” conference in Germany
From 18 to 20 November, Kumho hosted its annual European Bloc Meeting at the Kumho Tire European headquarters in Offenbach am Main, Germany. “…it was a fantastic opportunity to build on the successes of the last meeting and develop new ideas for 2025”, company representatives wrote in a social media post published on 20 November 2024.
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Sumitomo Rubber Industries, Synthos sign rubber powder MoU
Synthetic rubber producer Synthos has signed a Memorandum of Understanding (MOU) with Sumitomo Rubber Industries (SRI), manufacturer of the Falken tyre brand and Dunlop tyres for many markets outside Europe. Under the terms of this MoU, the partners will promote the development and use of high-performance rubber powders for the production of sustainable tyres.
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SKS buys Mehler EP’s Martinsville plant assets
AB Svenskt Konstsilke (SKS), the Swedish-based global leader in single-end cords for tyres, has announced the acquisition of the assets from Mehler EP’s 153,500-square-foot Martinsville plant in SC, USA. According to the company, the equipment will significantly enhance SKS’s production capacity at its facilities in Estonia, China, and Mexico, adding an additional 3,000 tons of single end cord capacity annually. The assets include multiple dipping lines, twisting machines, winders, and a fully equipped laboratory.
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Vredestein sponsors AS Monaco
Apollo Tyres Ltd has signed a one-season shirt-sleeve sponsorship deal with AS Monaco, to enhance the visibility of its Vredestein Tyres brand. The collaboration is designed to drive awareness of Vredestein’s products “among a broad audience in France and internationally, leveraging Ligue 1’s status as the fifth most-watched football league globally”. The new sleeve branding will debut at AS Monaco’s home league match against Brest on 22 November.
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Recykl to decide upon Germany, Lithuania acquisitions by year’s end
Polish waste tyre recycler Recykl Group says it increased the scale of its operations in the nine months to 30 September 2024, and during the final month of this period concluded due diligence processes regarding potential acquisitions in Germany and Lithuania. The company is currently analysing the results to prepare for possible transaction agreements, with Recykl’s Management Board anticipating reaching a decision by the end of the year.
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Xingda’s green product sales account for one-third
At the industry conference organised by the China Rubber Industry Association (CRIA), Xingda vice president Zhou Zhisong gave a presentation on “Opportunities and Challenges Faced by Steel Cord Enterprises in the Wave of Sustainable Development”, detailing Xingda’s research and development and application in the field of sustainable materials.
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