Ongoing shift to high-value tyres behind first-half profit increase at Pirelli
Pirelli reports “stable” sales of 3,447.5 million euros in the first half of 2024 (First-half 2023: 3,437.5 million euros). Adjusted pre-tax profits (EBIT) amounted to 539.1 million up 4.2 per cent compared with first half of 2023. Executives put the improvement down to “solid commercial performance (volumes and price/mix)” and “efficiencies”.
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Goodyear OTR, leadership changes and landslides
During the course of July, we all witnessed a veritable landslide of changes. In turn, these developments have implications across European and even global markets. And yes, of course, there was also that small matter of a general election and a new Prime Minister in the UK (see page 36 of the forthcoming August edition of Tyres & Accessories). But that’s not what I am referring to here… Like many of us, in July and August, I took some time out for a family holiday. Upon my return, I learnt that two particularly headline-grabbing news items had broken. Arguably the biggest and most wide-ranging news was Yokohama’s confirmation that it is buying Goodyear’s OTR business. Clearly, that development has strategic implications for both parties. The confirmation came on 22 July, 12 days after reports suggested Yokohama was in “advanced talks” with Goodyear to buy Goodyear OTR. Yokohama subsequently confirmed those reports, so it wasn’t a surprise that they would announce the news just under a fortnight later. Indeed, as we reported at the time, Tyres & Accessories learnt that several suitors had been involved in earlier talks relating to the purchase of Goodyear OTR about a month earlier than that. This article is an example of the editorial comment that introduces every edition of Tyres & Accessories magazine. Not a subscriber? No problem, click here to become one.
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The saga continues for Superior Industries’ plant in Germany
Hope springs eternal, and this has been the case at the Superior wheel plant in Werdohl, Germany in the months since the company entered insolvency. At the beginning of July, a buyer emerged for the plant, BBS Autotechnik GmbH. But then last Friday, the buyer itself declared bankruptcy. But this may not matter, because the purchase agreement hasnt yet been processed and the agreed purchase price hasnt been paid. For employees at in Werdohl, the deal’s non-finalisation provides a glimmer of hope.
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New Portuguese home for Avon motorsport tyre production equipment
A 20-million-euro transformation of the Camac tyre factory in Portugal, recently acquired by Nova Motorsport, is reportedly nearing completion. More than 200 lorries have transferred the entirety of the Avon motorsport tyre production facility in Melksham, Wiltshire to the Santa Tirso plant. According to Nova Motorsport, the “scale of the investment and extent of the refurbishment is set to significantly enhance the quality and capability of the existing Camac facility.”
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Goodyear spending $25 million a year on NASCAR
At the end of 2022, Goodyear extended its supplier/sponsorship contract for US motorsport series NASCAR, but at that time did not provide any further details on the duration of the agreement concluded with the eponymous National Association for Stock Car Auto Racing. A new GlobalData report on this motorsport competition, titled The Business of NASCAR 2024, indicates that the tyre maker’s NASCAR commitment extends from 2023 to 2027. Whats more, the data analysis specialist states that Goodyear’s NASCAR sponsorship will cost the company US$25 million a year during this period.
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Continental debuts flagship tyre for China, APAC markets
With Chinese motorists clearly in its sights, Continental has launched a new flagship tyre for consumers in the Asia Pacific region. The Continental ExtremeContact XC7 arrives in 34 dimensions for 17- to 20-inch rim diameters, making it suitable for both cars and SUVs. All sizes in the range utilise ContiSeal and ContiSilent technologies.
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Uwe Köster heading Magna Tyres’ OTR sales for Germany
Magna Tyres has appointed Uwe Köster as the new Sales Manager OTR for Germany. Köster brings 27 years of tyre industry experience to his new role, including 16 years in manufacturing and 11 years in retail. He joins the company from Rösler Tyre Innovators, where he held a sales management role. Prior positions include Sales Manager at White OTR Tire Sales and Service as well as Sales Representative at Bridgestone Deutschland.
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Stellantis South Africa hosts dealer network awards
Stellantis South Africa has presented awards to winners across seven categories in its Dealer of the Year awards at Monte Casino against the backdrop of the company’s latest product introduction, the Citroën C3 Aircross. “It is important to celebrate each dealer’s dedication to customer satisfaction, brand focus and business achievement,” says Stellantis South Africa managing director, Mike Whitfield. “This event was also a great occasion for us to show case our New Citroën C3 Aircross which signifies an exciting future for our brand.”
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Kraiburg Austria sourcing rubber directly from farmers
Retreading specialist Kraiburg Austria has embarked on a significant initiative to source natural rubber almost directly from small farmers in Indonesia. The Austrian firm formalised this development at the German Rubber Conference (DKT) in Nuremberg at the beginning of July, with the signing of a contract between Kraiburg Austria and its long-standing partner, Weber & Schaer.
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Remember This? – July 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 July 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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Read and download Tyres & Accessories Magazine July 2024 now
Tyres & Accessories features construction and mining tyres as well as a comprehensive review of The Tire Cologne in the July 2024 issue, available as an e-paper for subscribers to Tyrepress. The issue also features the annual Tyres & Accessories ranking of the worlds largest tyre manufacturers. 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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Financial injection to support Ecolomondo’s TDP growth plans
Canadian clean technology company Ecolomondo Corporation is looking to expand and to further develop its Thermal Decomposition Process (TDP) technology, particularly within the tyre recycling sector, after raising funds through a combination of private placement and loan.
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BMW Group details production strategy for next generation of high-voltage EV batteries
The BMW Group’s latest generation of electric vehicles will depend on the production of powerful high-voltage batteries. As a result, BMW is expanding significantly its production network for the next generation of high-voltage batteries. The company is applying the principle of “local for local” production to increase resilience. “Close connection of battery production with vehicle production is part of our strategy,” explains Markus Fallböhmer, senior vice president of Battery Production at BMW AG.
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AkzoNobel introduces new powder coatings technology for EV batteries
A new powder coatings technology providing improved electrical protection for electric vehicle (EV) battery systems has been developed by AkzoNobel’s Resicoat brand. The company says there is growing demand in the EV market for coatings with a high dielectric strength to help increase the safety of battery systems. The company’s solution allows customers to reach the required film thickness with a single spray, also boosting efficiency and productivity. Available in China, the new technology is suitable for battery system parts such as cooling plates, side plates and battery covers (enclosures).
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BM Catalysts to exhibit at Automechanika Frankfurt 2024
Leading aftermarket emissions products supplier BM Catalysts will exhibit at Automechanika Frankfurt (10-14 September, Hall 3.0, Stand E30 at Messe Frankfurt), supporting a period of European growth. The company said it will highlight its latest range addition, Gasoline Particulate Filters (GPFs), reflecting the company’s dedication to enhancing its offering to meet changing market demands.
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