Borbet to build eighth aluminium wheel plant
In order to remedy a capacity shortfall, alloy wheel manufacturer Borbet GmbH has decided to erect a new factory. After evaluating the suitability of several sites in Germany as well as locations in Poland, Hungary and Brazil, the company has decided upon Kodersdorf in the German state of Saxony as the host region for its new greenfield facility.
Continue ReadingToyo Tires takes on baseball sponsorship with Boston Red Sox
US baseball team the Boston Red Sox has an official tyre, and that tyre is Toyo. Under a multi-year agreement, the tyre maker will be represented on signage at Fenway Park, home of the Red Sox, and holds the right to use the official tyre designation in its marketing.
Continue ReadingApollo lays foundation of Hungary Greenfield tyre manufacturing plant
Construction of Apollo Tyres’ first European Greenfield plant in Gyöngyöshalász, Hungary, officially began on 10 April 2015, with a foundation stone laying ceremony. The international tyre manufacturer’s facility will start production in early 2017. The facility will produce both, Apollo and Vredestein branded tyres and will cater to the entire European market.
Continue ReadingiTrack rental scheme gains momentum with second Translogik deal
Translogik, the trading division of sensor system provider Transense Technologies plc, has won a contract to supply its iTrack mining tyre monitoring systems to the entire fleet of 46 large haul trucks at the BHP Billiton-owned Spence copper mine in Chile’s Atacama Desert. The iTrack systems will be supplied using Translogiks new rental pricing scheme.
Continue Reading2 Kumho co-CEOs resign
Two Kumho co-CEOs resigned just a few days after being appointed, according to the Korea Herald. Lee Han-seon and Park Se-chang, son of Kumho Asiana Group chairman Park Sam-koo, resigned from the position of CEO after the company’s major creditors demanded the pair’s resignations. The banks cited procedural problems with appointments as reason for the resignation, the Korea Herald reported.
Continue ReadingTrax wins 1 million euro Renault aftersales contract in France
British wheel balancing weight manufacturer Trax has won a contract to supply balance weights to Motrio in France. According to Trax, the Motrio business is worth some 1 million euros over the next three years and will further strengthen the supply of Trax weights into France and the European market.
Continue ReadingReport: Bangladesh tyre market to grow at 9% CAGR
A new report suggests the Bangladesh tyre market will grow by 9 per cent compound annual growth rate between now and 2020 due to a rise in automobile sales, improvement in public infrastructure, and growth in purchasing power. According to the recently released TechSci Research report, “Bangladesh Tyre Market Forecast & Opportunities, 2020’’, several global tyre giants have also expressed interest in making significant investments by setting up their manufacturing units in the country.
Continue ReadingAustralian facility a global support base for Bridgestone’s mining tyre business
An operations base opened by a Bridgestone Corporation subsidiary in Australia is said to be the first facility in the world to specialise in mining tyre business development and to offer comprehensive solution services related to off-the-road tyres for construction and mining vehicles, belts and hoses. Reporting that an opening ceremony has been held for the Bridgestone Institute Global Mining Solutions Pty. Limited centre, Bridgestone states that the facility will act as a global core base, offering support and services that aim to optimise mining tyre customer operations in two primary areas.
Continue ReadingGRI increases industrial tyre prices
GRI (Global Rubber Industries), an industrial tyre manufacturer based in Sri Lanka, has announced plans to raise prices by between 8 per cent and 9.5 per cent. According to statement released by the company, the precise price increase depends on which country in the European market and is effective from 1 May 2015.
Continue ReadingApollo increases retreading focus in India
Apollo Tyres inaugurated its third Apollo Retread Zone (ARZ) in Mumbai, in the western part of India. Rajesh Dahiya, Group Head, Sales-APMEA (Asia Pacific, Middle East & Africa), Apollo Tyres Ltd inaugurated the outlet in Turbhe, Navi Mumbai. With the objective of providing quality retreading service to truck-bus customers and fleet owners, these branded outlets are equipped with most advanced retreading machines, high quality tread material and trained workers. The move demonstrates
Continue ReadingChinese tyre recycling plant to feed ‘SRI Compound’ demand
A plant for converting end of life tyre rubber into a compound suited for use in new tyres will be set up in China’s Fujian Province if the aims of a new Memorandum of Understanding are fully realised. The MoU signed between China Automobile Parts Holding Limited and Malaysia’s Sri Elastomers Sdn. Bhd. on 18 March formalises both parties’ intention to form an alliance for the commercialisation of SRI Compound. Plans call for the establishment of a joint operation in the city of Xiamen.
Continue ReadingSameer exploring share sale, tyre export options
Sameer Africa Ltd., is planning to enter the Rwandan tyre market in the next two years, company executives told Bloomberg recently. At the same time, the company is said to be exploring the possibility of setting up a subsidiary in Nigeria. However, in light of ongoing share sale talks since last summer, this could be […]
Continue ReadingFriends charged with insider trading on Apollo/Cooper deal
Two men who profited from inside information regarding Apollo Tyres’ plans to acquire Cooper Tire & Rubber in 2013 have been charged by the US Securities and Exchange Commission, and parallel criminal charges have also been filed by the US Attorney’s Office for the District of Massachusetts. The SEC is now attempting to recover more than US$1.1 million made through the illegal trading of Cooper Tire stock.
Continue ReadingYokohama promoting products, Chelsea sponsorship at Shanghai Motor Show
The presence of Yokohama Rubber at the upcoming Auto Shanghai 2015 show has been confirmed. The exhibition will take place between 20 and 29 April, and the Yokohama stand will feature tyres from the company’s Advan, BluEarth, Geolandar and Neova ranges, along with Yokohama’s ‘aerodynamic tyre’, which will be displayed in China for the first time.
Continue ReadingTGI appoints new president
As of 1 April, Joaquin Gonzalez Jr. has taken on the role of president at US tyre wholesaler Tire Group International. Prior to his appointment to this new role, Gonzalez served as the companys chief marketing officer. He joined TGI in 2006 as chief operating officer.
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