Sailun holds Indonesia factory groundbreaking ceremony
Sailun Indonesia factory held a groundbreaking ceremony on 17 September. The tyre manufacturer called the Indonesian project “another important layout of the globalisation strategy”, “meeting the product and service needs of the local market”, and “enhancing the competitiveness and influence of Chinese tyre brands in Southeast Asia and even the global market”.
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Ingers Däck joins CTS
Following the news that Gummicentralen Säffle has joined CTS, another firm has announced that it too is partnering with the Scandinavian tyre distribution operation. Specifically, Ingers Däck, one of Swedens largest tyre shops, is joining what is loosely being called Circular Tire Services (CTS).
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ZC Rubber and DSV agree 10-year partnership extension
ZC Rubber has extended its strategic partnership with logistics firm DSV. The new agreement extends their successful collaboration by 10 years. DSV A/S, the parent company of DSV Road Holding NV employs over 60,000 people across 90 countries. Recently, DSV outbid several competitors to acquire DB Schenker, the logistics subsidiary of German state-owned railway operator Deutsche Bahn, for approximately 14.3 billion euros. This acquisition marks a significant expansion for DSV in the logistics sector, positioning it to become the worlds largest freight operator.
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Gummicentralen Säffle joins CTS
This year Colmec, Lapin Kumi and several local workshop owners have come together to form a new tyre service group that - for not, at least - goes by the name of CTS, which stands for Circular Tire Services. Now Gummicentralen Säffle has also joined the group.
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Hubtrac’s European production base gets $645 million more investment
Total investment in the Hubtrac brand’s European production base in Serbia will now total over 1.5 billion euros after company representatives confirmed that it will receive an additional $645 million of investment. The additional funds will be used to launch the second phase of the factorys expansion project. Once completed, the facility will have an annual production capacity of 1.1 million high-performance radial tyres, including 800,000 commercial vehicle tyres, 50,000 engineering radial tyres, 150,000 agricultural radial tyres, and 100,000 retreaded tyres.
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Developments in the Chinese and European tyre markets compared
Earlier this year, during a recent visit to China, on the sidelines of the GRTAE expo hosted in what can only be described as the tyre capital of the People’s Republic, Tyres & Accessories enjoyed a panel discussion with Car & Tire editor, Alex Shi. Formerly an executive within the tyre industry – including time with Goodyear – Car & Tires is known for its focus on tyres and is particularly strong when it comes to tyre testing and in the social media space. Indeed, they are something of a force online, with some 300,000 followers on WeChat, which is a bit like WhatsApp here in the West. True to form, not only was our discussion hosted in the main meeting room at GRTAE, it was also video recorded and streamed live to a potential audience of hundreds of thousands of Chinese-language followers in the East. Beginning with the current state of the respective Chinese and European tyre markets in light of recent macro-economic market trends, our discussion then moved onto the similarities and differences between the European and Chinese online tyre sectors.
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NTAW raising capital to support Dunlop distribution in Australia & NZ
On 18 September 2024, Australian tyre and wheel importer and distributor NTAW Holdings Limited announced an entitlement offer to raise AU$12.41 million (£6.52 million) in working capital to support its strategic expansion in Australia and New Zealand following appointment as regional Dunlop tyre distributor.
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BKT completes 30KT carbon plant project
Balkrishna Industries Limited has concluded its project to set up a new carbon material plant. The tyre maker says it has commissioned the 30,000 tonne per annum facility after completing the project’s capex.
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TIA names five new board members
In the USA, the Tire Industry Association (TIA) has announced the election of four members to its board of directors for the 2024-2027 term and the appointment of one member to fill a vacant position for the 2024-2025 term.
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API Tire promotes Barry Littrell to president and CEO
API Tire has expanded its leadership team to include Geoff Doster as chief operating officer (COO). Barry Littrell, who joined the company in 2009, has been appointed President and CEO.
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Tolins Tyres experiences ‘flat’ IPO
Market analysts described Tolins Tyres’s market debut as “flat” and “muted”. Tolins Tyres Limited shares opened at 227 rupees on the Bombay Stock Exchange (BSE), which equates to a 0.4 per cent premium over the upper limit of the IPO price band of 226 rupees. Those numbers stand in stark contrast with performance during the IPO subscription period, where the offer was reportedly oversubscribed by 23.87 times.
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Continental building own USA distribution centre
Continental serves its customers in the USA via seven distribution centres, none of which it owns. This will soon change, as the company has announced an investment into its first fully owned tyre distribution centre in the US market. The facility is to be located in Texas, within the Dallas-Fort-Worth-Metroplex, and will have a capacity to store more than 800,000 tyres – with potential for future expansion. Construction commences this month, with Continental aiming to start operations in the centre in 2026.
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Remember This? – September 2024
Our monthly magazine column looks back at the biggest news events from the tyre industry five, 10, 15 and 20 years ago. This months edition looks back to September issues from 2004, 2009, 2014, and 2019 for some of the biggest tyre industry news of those months. Click the month and year to access the digital edition of the relevant issue of the magazine from Tyres & Accessories’ expanding digital archive.
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Tyre News in Numbers September 2024
Tyres & Accessories’ monthly Tyres News in Numbers’ column boils down the latest tyre industry news to the most important statistics of the month. Below, we look at the big numbers from the September 2024 magazine. £110.11: The maximum import tariff per tyre on Chinese-produced truck and bus tyres recommended by the UK’s Trade Remedies Authority (TRA)...
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Tyres & Accessories Magazine September 2024 issue available to read or download
Truck tyres and electric vehicle tyres feature in the September 2024 issue of Tyres & Accessories, which is now available as an e-paper for Tyrepress subscribers. The issue also features the latest news from the international tyre business, including new products like Linglongs new winter tyre range and Davantis Alltoura H/T, and Malvern Tyres acquisition of Just Tyres in the UK. Non-subscribers can gain access to Tyrepress with a print or online subscription. Tyre professionals can take advantage of the current Tyrepress Membership offer, helping to drive business online and stay informed with the industry’s leading magazine and websites.
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