ChemChina’s latest Pirelli shares held indirectly
Following the news that China National Tire & Rubber Co. (CNRC), a subsidiary of China National Chemical Corporation (ChemChina), entered into a binding agreement with Edizione with respect to the purchase of 1.574 per cent of the share capital of Pirelli on 13 April, company representatives have issued a clarification that these shares are held indirectly.
Continue ReadingBoeing names Michelin a Supplier of the Year
The Michelin Groups Aircraft Tire Division has been recognised as a Boeing Company ‘Supplier of the Year’. The tyre maker was one of 14 companies (and one university) honoured at a Ceremony held in the USA on 15 April. Michelin was awarded in the ‘Electronics/Hydraulics/Mechanical’ category. Michelin also received a Boeing Performance Excellence Award.
Continue ReadingUS site Goodyear’s entry into online tyre retail
Online tyre retailers are nothing new, and Michelin’s current 40 per cent share acquisition of leading French portal Allopneus shows the major manufacturers are taking an interest in this business. That said, no major tyre maker sells directly to the public over its own website – but this is about to change. As Goodyear chairman and chief executive officer Richard Kramer announced at the company’s annual shareholders meeting on 13 April, the US-based company is gearing up to begin rolling out online tyre sales in its homeland. Goodyear has yet to comment on whether it plans to extend these web retail activities to other markets.
Continue ReadingUK car registrations rise 6.8% in March, European total up 10.6%
Demand for new passenger cars in the European Union rose 10.6 per cent year-on-year in March 2015, with the ACEA, or European Automobile Manufacturers Association, reporting a total of 1,604,107 cars registered. This is the 19th consecutive month of growth, and it is a trend fuelled by all major markets – particularly Spain, where new passenger car registrations jumped 40.5 per cent to 112,299 units. Italy also enjoyed double-digit growth and recorded 161,303 new passenger car registrations in March, 15.1 per cent more than a year earlier. The greatest number of new registrations during the month took place in the UK, where 492,774 new passenger cars were registered, a 6.8 per cent increase on March 2014.
Continue ReadingTyre recycling process amongst Edison Award finalists
A Melbourne-based tyre recycling specialist has become the first Australian company ever to be named an Edison Award finalist. Green Distillation Technologies, which has developed a destructive distillation process for transforming end of life tyres into carbon, oil and steel, is a contender for an award in the Energy & Sustainability category. The firm doesn’t have long to wait to discover if it has landed a gold, silver or bronze award – winners will be announced at an event in New York on 23 April.
Continue ReadingEuropean truck tyre manufacturers losing ground to imports, says ETRMA
The association representing tyre manufacturers in Europe says its members experienced “mixed results” in the region’s replacement market during the first quarter of 2015. While companies belonging to the European Tyre and Rubber Manufacturers’ Association sold more passenger car tyres (up 1.9 per cent to 52,120,000 units) and motorcycle tyres (up 6.6 per cent to 3,297,000 units) in the first quarter of 2015 than a year earlier, both truck and agricultural tyre sales were down compared with the corresponding period in 2014; ETRMA members’ truck tyre sales decreased 0.74 per cent to 2,158,000 units and agricultural tyre sales dropped 12.8 per cent to 436,000 units.
Continue ReadingLehigh Technologies Wins 2015 Bloomberg New Energy Pioneer award
On 13 April Lehigh Technologies, a materials company producing micronized rubber powders (MRP), announced it won the 2015 Bloomberg New Energy Pioneer award. Lehigh Technologies was recognized for its innovation in commercializing a range of Micronized Rubber Powders (MRP) from end-of life tyres that are used as raw materials in a wide range of industrial markets, ranging from rubber to asphalt. MRP can reduce feedstock costs by 30 per cent or more, while delivering equivalent or improved performance and an improved sustainability profile compared to oil-based chemical inputs.
Continue ReadingUS tyre association opposes tyre registration legislation
The Tire Industry Association (TIA) us officially opposing apparent tyre registration language in the Generating Renewal, Opportunity, and Work with Accelerated Mobility, Efficiency, and Rebuilding of Infrastructure and Communities throughout America Act or GROW AMERICA Act that was released on 30 March 2015. At the crux of the issue is the way which the it opens the possibility that independent tyre dealer must register who buys which tyre and send this information to the government at no cost to the consumer.
Continue ReadingChemChina now holds 30% of Pirelli shares
Following news of the company’s plans to takeover Pirelli based on purchasing Camfin’s leading shareholding in the Italian tyre manufacturer, ChemChina has revealed that it has made a deal with Edizione Srl for an additional Pirelli stake. The latest share purchase suggests ChemChina is in the second phase of its acquisition en route to a publically stated goal of owning 65 per cent of Pirelli.
Continue ReadingHyundai replacing Genesis tyres in some markets due to noise and vibration
Owners of Hyundai Genesis models in a number of markets are being offered a substitute for the tyres fitted to their car as original equipment. The Korean vehicle maker reports vibration and road noise issues related to the Hankook Venus S1 Noble 2 tyres that were fitted as standard equipment to all models of the luxury saloon, and as a result owners are being offered alternative tyres – regardless of whether they have experienced any problems or not.
Continue ReadingToyota awards Bridgestone for Asia Pacific supply performance
Bridgestone has been awarded for its contribution as an original equipment supplier to Toyota in the Asia Pacific region. The 2014 Regional Supplier Overall Outstanding Performance Award was presented to Shinichi Hanashi, chief executive officer of Bridgestone Asia Pacific Pte. Ltd., at the Toyota Motors Asia Pacific Engineering and Manufacturing Annual Supplier Conference, which took place in Thailand on 24 March.
Continue ReadingZenises developing 100-member Westlake Iberian tyre retail network
During its recent Partners Day in Bangkok, Thailand, Zenises announced the launch of its new Westlake retail initiative in Spain and Portugal. The Westlake affiliated garage network is being launch in 2015 and is aiming to support over 100 members over the next two years. The Westlake brand is already well positioned in Spain and Portugal with national coverage via selected distributors and it is through deeper co-operation with these established regional wholesale channels that the new retail network will be initially developed.
Continue ReadingAmerityre appoints new CEO
Amerityre Corp. has named Michael Sullivan who has been chief operating officer of the company since 1 December 2014 as CEO. The appointment took effect on 1 April 2015. In February, Amerityre, which makes industrial tyre products and polyurethane tyre technologies, reported that it cut its net loss by one-third in the quarter ended 31 December to $128,465 on sales of $1.35 million. This announcement marked the firm’s 78th consecutive quarterly loss.
Continue ReadingRussian light-vehicle sales plummet 42.5%
There is chaos in the Russian light vehicle market, with some of the fastest contractions on record. The Russian light-vehicle market posted a the highest rate of monthly contraction since the accelerated decline of 2009 of 42.5 per cent year-on-year to 139,850 units, according to the latest data set released by the Association of European Businesses (AEB). The chairman of the AEBs vehicle manufacturers committee blamed the pull-forward effect of the governments scrappage scheme and the heavy price inflation. The latter is no doubt a bigger reason for the collapse as the general macroeconomic environment in Russia continues to deteriorate alarmingly as the rouble weakens and sanctions bite,
Continue ReadingTrelleborg Australia acquisition finalized
Trelleborg has officially finalized the acquisition of Armstrong Tyres, an Australian agricultural tyre service and distribution company. According to the company, the transaction will be consolidated as of 10 April 2015. The acquired operation has its head office in Bendigo, Victoria, Australia. Sales in 2014 amounted to approximately 50 million Swedish krone. The acquisition, which is described as a “bolt-on” reportedly comes as part of Trelleborg’s strategy to strengthen its positions in “attractive market segments”. This concludes the purchase that was announced in an acquisition statement published on 31 March 2015.
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