Tyre manufacturer share prices fall as demand loses pressure
Shares in tyre manufacturers dropped by as much as 9 per cent on Friday 19th October 2018, following Michelin reports that third quarter demand was down and that it was not expected to improve in the fourth quarter. Shares fell 6 per cent in early Paris trading to a seven-year low, but continued downwards and were down more than 9 per cent by mid-afternoon to 89.54 euros.
Continue Reading![Michelin predicts significant slowdown in car and truck tyre demand](https://www.tyrepress.com/wp-content/uploads/2018/10/truck_mature_wheel_auto_vehicle_large_truck_tyres-884975.jpg)
Michelin predicts significant slowdown in car and truck tyre demand
While presenting its nine-month 2018 results, Michelin has predicted a significant slowdown in passenger and truck tyre market conditions in the second half of the year. However, the well-known tyre manufacturer also predicted “sustained growth” in the speciality sector, which consists of OTR, two-wheel, aircraft and agricultural tyres.
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Bridgestone now a Worldwide Paralympic Partner
A new agreement has expanded Bridgestone Corporation’s involvement in international sport. The tyre maker and rubber manufacturer has become a Worldwide Paralympic Partner; it is the seventh entity to associate itself with the International Paralympic Committee (IPC) in this capacity.
Continue Reading![GKN Wheels publishes hub catalogue](https://www.tyrepress.com/wp-content/uploads/2018/10/GKN-WS-Profi-Hub-Catalogue-2018.png)
GKN Wheels publishes hub catalogue
GKN Wheels and Structures has produced a new catalogue covering the company’s extensive range of hubs and spindles. With detailed technical and application information, together with images and dimensioned line drawings of each product in the range, the catalogue also includes full details of the company’s recently launched Profi-Hub range.
Continue Reading![Will Amazon buy ATD?](https://www.tyrepress.com/wp-content/uploads/2018/10/ATD.png)
Will Amazon buy ATD?
October has been a tumultuous month for US tyre distribution. First ATD filed for Chapter 11 during the first week of the month. Then, less than two week’s later Sears, which includes Sears Autocentres (itself one just two major tyre installation partners for Amazon), also applied for bankruptcy protection. Now market analysts are asking if Amazon is planning to buy ATD.
Continue ReadingSears enters Chapter 11
On Monday 15 October 2018 Sears Holdings Corporation, the 132-year-old US retailer known for selling everything to everyone, filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the Southern District of New York.
Continue ReadingATD enter bankruptcy proceedings
A month after its credit rating was downgraded, American Tire Distributors, Inc. (ATD), the largest tyre wholesaler not only in the USA, but in the entire NAFTA region, filed for Chapter 11 bankruptcy protection in the District of Delaware on 4 October. At the time, the company announced that it had entered into a definitive agreement with approximately 75 per cent of its bondholders on the terms of a recapitalization that would reduce the companys debt by approximately $1.1 billion and increase its financial flexibility as it continues its ongoing transformation
Continue Reading![Linglong confirms $300 million deal for Brazil, Paraguay](https://www.tyrepress.com/wp-content/uploads/2018/10/linglong-sunset.jpg)
Linglong confirms $300 million deal for Brazil, Paraguay
Linglong Tire confirms the signing of a US$300 million deal with Paraguay-based tyre distributor Sunset Tires. Wang Feng, chairman of Linglong Tire, put his signature on a strategic cooperation agreement along with Nabil Chamseddine, chief executive officer and president of Sunset, on 12 October.
Continue Reading![Precipitated silica production starts at Evonik’s new US plant](https://www.tyrepress.com/wp-content/uploads/2018/10/evonik-carolina.jpg)
Precipitated silica production starts at Evonik’s new US plant
Production of precipitated silica has commenced at the Evonik Industries plant in South Carolina, USA. The facility, set up with an investment of around US$120 million, will primarily meet demand from tyre manufacturers in North America for Evonik’s Ultrasil products. More than 40 new jobs have been created by the project.
Continue ReadingShareholder approval for Sailun Jinyu name change
The vast majority of Sailun Jinyu Group shareholders have approved the adoption of a new company name and changes to the company’s articles of association. Votes held during an extraordinary meeting of shareholders on 12 October resulted in a 99.1 per cent turnout in favour of both measures. The tyre maker will thus adopt the name Sailun Group Co., Ltd.
Continue Reading![IRSG launches ‘Women for Rubber’ competition](https://www.tyrepress.com/wp-content/uploads/2018/10/IRSG-women.jpg)
IRSG launches ‘Women for Rubber’ competition
In parallel with the International Rubber Study Group’s (IRSG) 75th Anniversary, the association has organised a photo competition to pay tribute to womens contribution in the rubber industry. The contest is supported by Singapore Committee for UN Women and prizes are sponsored by Namazie International.
Continue ReadingRussia, Saudi Arabia to finalize rubber joint venture by end of 2018
Russia and Saudi Arabia will finalize several joint projects by the end of 2018, Russian Energy Minister Alexander Novak recently told journalists. The projects referred to see Saudi Aramco partner with Russain firms Sibur and Novatek. The Sibur plant plans centre on a particularly significantly sized rubber factory.
Continue ReadingMobox: Flat rate tyre subscriptions a la Bridgestone
Bridgestone has introduced an all-inclusive monthly subscription service for tyres called Mobox. According to the company, Mobox subscription offers “new tyres, full warranty and other premium vehicle-related services, and all at an affordable price per month”.
Continue ReadingLinglong signs $300 million South American tyre distribution deal with Sunset
Shandong Linglong Tire has signed a tyre distribution cooperation agreement with distributor Sunset to expand its market share in Brazil and Paraguay.
Continue ReadingRun-flats set for “huge growth” by 2023
HTF MI has released a new market study on run-flats. The research study, which provides forecasts the size of the run-flat sector till 2025, suggest Bridgestone, Michelin, Goodyear, Continental, Pirelli, Hankook, Sumitomo Rubber, Yokohama, Giti, Kumho and Cheng Shin Rubber are key players.
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