Bridgestone Corporation has published a notice on its Japanese website regarding the company’s largest tyre recall since tyres first became subject to product recalling in Japan almost ten years ago. The recall covers 1,204,707 truck and bus tyres produced at Bridgestone’s Tochigi plant between January 2012 and August 2013.
One hopes Maurice Taylor knows what he may be getting himself involved with. Goodyear’s Amiens Nord plant in France, scheduled to be closed and the subject of a potential acquisition by Titan International, is once again making the news – complete with photos of flaming tyres. Workers protesting the final meeting in the consultation process with employee representatives made their feeling known today when they blocked entry to the plant and set fire to piles of tyres.
ETRMA call for end of EU-South Korea trade barriers
On the eve of EU-South Korea summit (7 November) the European automotive industry released a statement calling for more to be done to dismantle barriers to trade in South Korea.
Apollo Tyres’ planned takeover of Cooper Tire appears to be in serious jeopardy as the latest court proceedings reveal the depth mistrust between the two companies. Cooper’s suggestion that Apollo has “buyer’s remorse” and is using the industrial dispute at Cooper Chengshan as a way of sabotaging the deal is the clearest example of this yet. The question of whether or not Apollo is putting everything it can into closing the deal is at the centre of the case. Apollo says it is doing everything it can despite the Chengshan and USW issues. Cooper says these are being used as delay tactics.
Chengshan wanted to acquire Cooper Tire, court hears
Yesterday the court case between Apollo Tyres & Cooper Tire & Rubber began in the US. The case is scheduled to run until tomorrow, and on the first day Cooper chairman, chief executive officer and president Roy Armes shared why relations with the partner in its Cooper Chengshan joint venture operation turned sour once the Apollo acquisition deal became known.
North America’s greatest automotive products show gets underway today, and tyre makers are making sure the anticipated 60,000 plus visitors know about their latest developments.
Miami-based US tyre wholesaler Tire Group International reports that it was granted ‘Foreign Trade Zone (FTZ) 281-4’ status on 9 September. This designation will give TGI the ability to defer, reduce and even eliminate customs duties on products brought into its US distribution centre for re-export.
Goodyear an official tyre for US ski, snowboard association
The U.S. Ski and Snowboard Association (USSA) has selected Goodyear as ‘official tyre’ of the U.S. Ski Team, U.S. Snowboarding and U.S. Freeskiing. Gary Melliere, general manager of Sponsorships at Goodyear North America, describes the partnership between the teams and the tyre maker as “a natural fit for the Goodyear brand and its superior performing tyres”.
The Russian city of Kaluga is home to several European vehicle manufacturers, including Volkswagen, PSMA and Volvo Trucks, along with suppliers such as Magna, Faurecia, Benteller and Gestamp. The name Continental now joins this list following the official start of production at the company’s new tyre factory in Kaluga on 29 October.
Pakistan-based publication The International News reported on 29 October that The General Tyre and Rubber Company of Pakistan Limited, or Gentipak, will establish a new manufacturing facility in the country’s north. Details of this plan were given by company chairman Lt Gen (Retired) Ali Kuli Khan Khattak at a gathering to commemorate Gentipak’s half-century in Pakistan.
Demand for passenger car tyres in China is forecast to rise over the medium to long term, and the high performance segment is particularly expected to see high growth. For this reason, Bridgestone Corporation’s group company in China, Bridgestone (Wuxi) Tire Co., Ltd., will increase production capacity at its Wuxi plant by approximately 5,300 tyres a day.
NBA star Jeremy Lin visits Houston Rockets sponsor Kenda
The NBA Global Games’ visit to Taiwan gave tyre manufacturer Kenda the ideal opportunity to meet up with the franchise it sponsors, Houston Rockets, and its star player Jeremy Lin. Kenda officials were invited to a private meet and greet with Lin, who entertained guests by sharing some childhood memories of Taiwan, at Taipei’s Okura Prestige Hotel.
India’s Ceat Limited has reported a nine per cent growth in year-on-year revenues for the quarter ending 30 September 2013. On a standalone basis, revenues in this second quarter of the company’s financial year rose to Rs 12.63 billion (£127.6 million). Pre-tax profit rose from Rs 41 million in the second quarter of 2012 to Rs 1.1 billion (£11.1 million) in the most recent quarter. EBITDA for the second quarter of the 2014 financial year stood at 13.1 per cent, compared with 6.7 per cent in the corresponding quarter of the previous year.
JK Tyre & Industries is not the only Indian tyre maker that has announced it will invest to increase production capacity; RPG company Ceat Limited says it will expand radio production at its Halol plant in GujaratState. A total of Rs 6.5 billion (£65.7 million) will be invested in the project.
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