GRI breaks ground on second tyre plant
Sri Lankan industrial tyre maker Global Rubber Industries, or GRI, has laid the foundation for its new off-road tyre factory. Groundbreaking took place 4 January and marks the start of construction on a plant that will be built with an investment of US$40 million. The facility will be built adjacent to GRI’s current solid industrial tyre factory in Badalgama, Sri Lanka.
Continue ReadingAutodata sold for £340 million
Following the news Autodata was sold yesterday, it has emerged that Solera Holdings paid some £340 million. Autodata originally sold for £143 million in May 2014 when the founders sold the business to Bowmark and Five Arrow Principal Investments. Therefore the price Solera paid represents a 137 per cent increase in Autodata’s valuation.
Continue ReadingSolera buys Autodata
Solera Holdings, Inc. has agreed to acquire Autodata, a provider of technical information and knowledge solutions for the automotive service, maintenance and repair industry. “Throughout a car’s life, there are over 54 transactions that occur between motorists and automotive businesses,” said Tony Aquila, Solera’s founder, chairman and CEO. “One of Solera’s missions is to digitize the vehicle ownership ecosystem by developing cognitive applications that not only power connectivity and engagement, but also proliferate awareness and transparency across the entire automotive lifecycle.”
Continue ReadingTitan International cutting wheel production at its Saltville plant
In response to weakness in the mining market, key North American wheel production is to be relocated from Titan International’s manufacturing facility in Saltville, Virginia to its wheel division headquarters in Quincy, Illinois. The company reports this measure is being taken in order to “take advantage of production capacities.”
Continue ReadingKuehne + Nagel takes over Michelin warehousing in Poland
Logistics provider Kuehne + Nagel Poland is now managing Michelin’s warehouse activities in Poland. This arrangement is the first new business under a global master agreement for contract logistics recently signed by the two companies.
Continue ReadingWork begins on Marangoni-equipped Sri Lanka tyre plant
Tomorrow the foundation stone will be laid for a new tyre making facility in Sri Lanka that utilises Marangoni technology. The plant belongs to Rigid Tyre Corporation (Pvt.) Ltd. and will be built at a cost of LKR 11.25 billion (£60.1 million). The company says the factory to arise on a 100 acre site at the BOI Industrial Zone in Horana will be “commissioned to manufacture the whole gamut of tyres that roll on the roads, and off it.”
Continue ReadingAutoliv and Volvo agree driverless car software joint venture
Autoliv, Inc. and Volvo Cars have signed a final agreement regarding the formation of a 50:50 joint venture to develop software for autonomous driving and driver assistance systems, based on the letter of intent announced during autumn 2016.
Continue ReadingEldan expands Italian tyre recycling plant
Eldan Recycling A/S reports that it successfully expanded an Eldan tyre recycling plant located at the premises of Italian customer GATIM. The original Eldan tyre recycling plant was supplied in 2001.
Continue ReadingYokohama makes senior management changes
The Yokohama Rubber Co., Ltd, made a personnel and board member change at a meeting held on 27 December 2016. The change will be effective as of 1 January 2017.
Continue ReadingNew Turkish Marangoni partners
Marangoni Retreading Systems is now working with two new retreaders and dealers in Turkey, Basoglu and Dirkap.
Continue ReadingTatneft divests Nizhnekamskneftekhim shareholding
Russia’s PJSC Tatneft has entered into an agreement to sell its shares in chemical and synthetic rubber manufacturer PJSC Nizhnekamskneftekhim to the Taif group of companies. The transaction, which will see 402,813,999 ordinary shares, is valued at approximately 32 billion roubles (£422.6 million).
Continue ReadingMagna Tyres Group acquires OBO Tyres
Magna Tyres Group has acquired OBO Tyres, the largest tyre retreader in the Netherlands. Founded in 1959, the company has specialized in producing retreaded tyres for the agricultural and OTR market and additional tyre repair services. Recently the company received exclusive distribution rights of the Magna agricultural, and MTP OTR tyres, which allowed the company to offer qualitative and cost effective new tyre solutions to the Benelux tyre market.
Continue ReadingEuropean car registrations rebound in November
In November 2016 EU passenger car registration rebounded following the slowdown observed in October. New registrations for the month totalled 1,148,618 units (up 5.8 per cent), according to the European Automobile Manufacturers’ Association (ACEA).
Continue ReadingKenda appoints Stotsenburg as North American VP
Kenda has promoted Brandon Stotsenburg to vice president of its North American Automotive tyre business. Currently director of business development, Stotsenburg succeeds Bob Phoenix, who is retiring 1 January 2017.
Continue ReadingFirestone tyres OE on Subaru Impreza in America
Bridgestone Americas has announced that its Firestone FT140 tyre has been selected as original equipment on the all-new 2017 Subaru Impreza.
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