Jiangsu General aims for 10 billion yuan turnover
Gu Cui, chairman of Jiangsu General, revealed the tyre manufacturer’s four development priorities in 2024: the Thailand factory phase II project, the Cambodia factory phase II project, China’s domestic semi-steel radial tyre market, and the OTR market. Specifically, the company hopes to achieve sales and market value of 10 billion yuan.
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Michelin joins Antin, Enviro announcing first end-of-life tyre recycling plant in Sweden
Michelin has finalised its shared investment plan alongside joint venture partners Enviro and Antin for the construction of a first end-of-life tyre recycling plant in Uddevalla, Sweden. The project, which broke ground in February, is based on Enviro’s pyrolysis technology. It has secured a series of multi-year contracts for the supply of used tyres and the upcycling of recovered carbon black and pyrolysis oil. The first plant has targeted a capacity to recycle approximately 35,000 tons of used tyres annually and to create up to 40 green jobs in the local community in its first phase.
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Truck donations allow Transaid to support HGV driver training in Zambia
Two heavy goods vehicles (HGVs) which had previously operated in the UK will help train hundreds of new and existing truck drivers in Zambia, having entered service at the Industrial Training Centre (ITC) in Lusaka, after being donated by supporters of Transaid. This contributes to an ongoing partnership between Transaid and the ITC which aims to improve road safety across the country, having first teamed up in 2008 and together trained more than 22,000 drivers during the 15-year period.
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Titan International buys Carlstar Group for US$296 million
Titan International, Inc. (TWI) has bought Carlstar Group LLC. for approximately $296 million in a cash and stock transaction, which closed on 29 February 2024. The transaction price represents a multiple of approximately 4x Carlstars full-year 2023 pre-tax profits (adjusted EBITDA) of $73 million. Carlstar reported revenues of around $615 million in 2023.
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Falken Motorsports commits to Nürburgring racing for 2024
Falken Motorsports will return to Nürburgring Langstrecken-Serie (NLS) action and the ADAC Ravenol 24h Nürburgring with its pair of Porsche 911 GT3 R (992)s. The tyre brand’s team had a successful 2023, with the teal and blue liveried Porsches finishing third in the NLS Speed Trophy thanks to several top five results – including wins in NLS5 and NLS6. With the driver line-up set to be confirmed next month, 2024 marks the second year Falken Motorsports has run the 911 GT3 R (992) and its 14th as a Porsche customer team.
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Remember This? – February 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 February 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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Bridgestone renews e-jobsheet agreement with MobileITApps
After more than 10 years of business collaboration, MobileITApps has renewed its agreement with Bridgestone Europe, enabling full connectivity between the FleetBridge system into the e-jobsheet all-purpose tyre service app powered by the TiDaeX platform, including plans for RFID integration. The agreement covers 31 European countries.
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Trelleborg tyres feature in Massey Ferguson experience
At the end of February, Agricultural professionals in Italy met up with Trelleborg tyre experts to discover how the company’s next-generation tyres are designed to propel their businesses more effectively. The eXperience Tour, as it is called, made three stops: Perugia (February 12-16), Eboli (Feb 20-23) and Pescara (Feb 27–March 1).
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Brenno Benaglia, a pillar of the retreading business, has passed away
After a brief illness, Brenno Benaglia, former sales director of Marangoni Pneumatici and a well-known leader in the world of retreading and tyres in general, passed away on 24 February.
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Bridgestone withdraws from China’s truck and bus radial tyre market
Bridgestone’s subsidiary in China announced that it would officially terminate its commercial vehicle tyre (TBR) business on 27 February. The move means that the tyre giant will no longer produce and sell TBR products in China, at least in the short term. The company states that “strategic resources will be focused on the high-end PCR market where growth is expected.”
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Linglong certified by Responsible Supply Chain Initiative
Linglong Tire was successfully certified by the Responsible Supply Chain Initiative RSCI e.V. association effective January 2024. The association was founded in 2021 by the Association of the Automotive Industry (VDA) together with 14 other founding members, including Daimler AG, Volkswagen AG and BMW AG. In January 2023, Linglong Tire became the only tyre manufacturer to join the alliance.
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Goodyear sells Cooper Avon assets to Nova, leases Avon motorsport tyre brand
Goodyear executives have confirmed that Turbalvoroco Unipessoal LDA, trading as Nova Motorsport (Nova), will buy “certain assets used in the manufacturing and sale of” Avon-branded motorsport tyres. Nova has also acquired “the brand license, traditionally used in the manufacturing and sale of certain motorsport tyres under the names ‘Avon Motorsport’ and ‘Avon Racing’”. Tyres & Accessories understands that Nova plans to continue the production of some of the Avon Motorsport product range independently from Goodyear.
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Pirelli: F1 teams ‘working hard’ to reduce overheating’ in new cars as Ferrari goes fastest
Pirelli revealed that Formula 1’s teams worked hard on “adapting the new cars to the tyres” in the final pre-season Formula 1 test in Bahrain, focusing on the prevention of overheating. 19 drivers from all the teams completed several long runs, supplying plenty of data to analyse in preparation the 2024, which commences on 29 February at the same circuit. Pirelli said the information gathered from the test is very important, especially to confirm if the aerodynamic load simulations provided by the teams over the winter break have been correlated in reality on track.
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Pirelli looks forward to Bahrain opener for longest Formula 1 season in history
Pirelli continues its stint as exclusive tyre supplier to Formula 1 as it returns to Bahrain for the first round of the 2024 season on Thursday 29 February to Saturday 2 March. This represents a scheduling change for the usual F1 weekend, with two practice sessions on the Thursday, qualifying on Friday, and the race on the Saturday. This will be retained the following weekend in Saudi Arabia. Formula 1 made the change to accommodate the start of Ramadan on the second Sunday of March. Pirelli says Formula 1 teams arrive in Sakhir with plenty of information about how the car and tyre package works on this particularly abrasive track, where traction and braking stability are key to performance: both on a flying lap as well as on longer runs. Pirelli has selected its three hardest compounds for the P Zero tyres it will supply in Bahrain; the C1 and C2 will be the hard and medium compounds for the race, while the C3 is the qualifying option.
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Serbian president: Linglong could be 5th or 6th largest exporter
Linglong is set to become Serbia’s fifth or sixth largest exporter or at least that is what Serbian President Aleksandar Vučić said he hopes happens, in an interview with Chinese media.
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