Ceat aiming for greater European presence with UHP tyre range
Indian tyre maker Ceat Ltd. says it anticipates a greater presence in “Europe’s niche market segments” thanks to the recent addition of low profile 19- and 20-inch UHP tyres to its portfolio. Ceat mentions Germany as a market of particular interest for these products.
Continue ReadingSynthomer acquisition values Omnova at £654 million
Essex-based Synthomer plc, one of the worlds major suppliers of aqueous polymers, has agreed to buy Omnova Solutions Inc., which develops, manufactures and markets polymers, dispersions, elastomers and other speciality chemicals, at a price of US$10.15 per Omnova share. The acquisition values Omnovas entire issued and to be issued share capital at US$473 million (approximately £375 million), with an implied enterprise value of US$824 million (approximately £654 million). The move is now subject to regulatory approval. This is expected to complete in the fourth quarter of 2019 or the first quarter of 2020.
Continue ReadingHexpol buys Preferred Compounding for $232 million
On 1 July Hexpol announced that it has acquired Preferred Compounding from the Audax Group, a US-based Private Equity firm. Preferred Compounding is described as an “advanced rubber compounder in North America”. Key markets include general industry, automotive, power and infrastructure. Hexpol paid approximately US$232 million on a cash and debt free basis. Preferred’s 208 turnover worked out as roughly US$240 million. The firm has around 540 employees in six facilities, five in the US and one in Mexico. The business will be consolidated from 1 July 2019.
Continue ReadingITMA welcomes first Eastern European member, Acces Auto-Trading
Acces Auto-Trading has become the latest company to join the International Tyre Manufacturers’ Association (ITMA) and the first from Eastern Europe.
Continue ReadingConti names Geraint Thomas OBE as new brand ambassador
Continental Tyres has appointed Tour de France-winner Geraint Thomas OBE as its new brand ambassador. Since joining Team Sky in 2010, now Team INEOS, Thomas has ridden on Continental tyres at major cycling events around the world.
Continue ReadingSTARCO upgrading wheel production to meet OE ambitions
When tourists visit Croatia, they dont come to Beli Manastir. The sleepy town of around 8,000 inhabitants is about as distant as you can get from Croatias bustling beach resorts and still stay within the countrys borders. But Beli Manastirs lack of package holiday cred doesnt matter a jot to STARCO - instead of bringing the world to Beli Manastir, it is taking Beli Manastir to the world.
Continue ReadingTRM remaining in Marangoni group post Meccanica spin-off
Marangoni representatives have confirmed that, following the corporate reorganization that released Marangoni Meccanica from Marangoni group, TRM (Tyre Retreading Machinery) will remain part of the Marangoni Group. According to the company, this means TRM acquires “greater freedom of action”.
Continue ReadingPetlas adds four new run-flat sizes to PT741 range
Petlas has introduced four new run-flat sizes for its PT741 ultra-high performance pattern, namely,. Specifically designed for ultimate performance, PT741 offers an excellent combination of performance and safety (245/40R 20 Reinforced, 285/35R 18, 285/35R 19 and 225/35R 20 Reinforced). According to the company, Petlas run-flat are capable of distances up to 200 km without “any integrity problems”.
Continue ReadingWork begins on Maxtrek’s Malaysian tyre plant
Groundbreaking took place last month on a new Maxtrek Tyres plant in Malaysia. Guangdong, China-based tyre maker Zhaoqing Junhong Co., Ltd. is setting up the plant on a 121.4-hectare site within the Malaysia-China Kuantan Industrial Park (MCKIP) in Pahang state.
Continue ReadingBridgestone pulling away at the top of global tyre manufacturer rankings
This month’s magazine includes our annual leading tyre manufacturers table (click here for more). Ranking the world’s biggest and big tyre firms in this way gives everyone a baseline reference for gauging different firms’ performance and – if previous years are anything to go by – it can be a real conversation starter as well.
Continue ReadingToyo partnering Tough Mudder in Italy
Toyo Tires has partnered Tough Mudder in Germany and Great Britain since 2018. Now the tyre manufacturer has announced that it is expanding its partnership with Tough Mudder by extending its 2019 deal into Italy. As a result, Toyo will be an official partner for both of the inaugural Italian events on September 14/15 in Milan as well as on October 26/27 in Rome.
Continue ReadingMarangoni opens new Ringtread Facility in Florida
On 1 July 2019 Marangoni Tread North America Inc. announced that PRIDE Enterprises in Avon Park, Florida is now part of the Marangoni Ringtread network.
Continue ReadingMichelin twice recognised for responsible purchasing
Michelin has gained the Supplier Relations and Responsible Purchasing Label (Label Relations Fournisseurs & Achats Responsables, or RFAR), a recognition given to distinguish French companies that demonstrate lasting and balanced relationships with their suppliers. This distinction follows the recent receipt of a certificate of maturity for purchasing practices in relation to the new ISO 20400 sustainable procurement standard.
Continue ReadingCeat: Two more OE tyre approvals
Ceat tyres have been chosen as original equipment on two new models sold in the Indian market, the Hyundai Venue and the latest Suzuki Alto.
Continue ReadingAutopromotec: Changing Europe makes cooperation more important
When the doors for Autopromotec 2019 opened at the end of May, the show organisers were already reporting a 4.4 per cent increase in the number of exhibitors. More than 1,650 companies exhibited at Autopromotec 2019. 43 per cent were non-Italian companies from 53 different countries. It has undoubtedly become a large and influential international show, but how will this work in a post-Brexit environment?
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