Michelin, unions negotiate framework for France plant closures
On 3 and 4 December, Michelin management met with representatives from the unions CFDT (French Democratic Confederation of Labour), CFE-CGC (CEC European Managers), FO (Workers’ Force), and SUD (Solidarity Union) – collectively known as the ‘Intersyndicale’ – to negotiate the procedural framework for the proposed closure of its Vannes and Cholet tyre plants in France. As the CFDT reports, these discussions culminated in a draft agreement outlining key points for structuring the negotiations. This agreement, adds the union, should also ensure “employee support” throughout the process.
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Camac restart – Nova Motorsport now making 3 tyre brands
Over recent months we’ve reported the renaissance of the Avon brand at the Camac tyre factory in Portugal, which Nova Motorsport acquired in April. The Camac brand has also gained a new lease of life thanks to a 20-million-euro investment to refurbish and upgrade at the factory in Palmeira over the past half a year.
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Falken Tyres event partner to 2025 IHF Men’s World Championship
Reinforcing its sport sponsorship activities, Falken Tyre Europe GmbH has extended its collaboration with the International Handball Federation (IHF) by becoming an event partner to the 29th IHF Men’s World Championship. This handball tournament takes place in January, with Denmark, Croatia and Norway serving as hosts.
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Strong demand for Emerald Tyre IPO
Within hours of opening, the initial public offering (IPO) of Indian tyre maker Emerald Tyre Manufacturers Ltd was already heavily oversubscribed. By 1pm (IST) on Friday 6 December, the second day of the IPO, Emerald Tyre Manufacturers had been subscribed 67 times. The IPO on the National Stock Exchange of India will remain open until 9 December.
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Olpneus becomes exclusive MRL Tires distributor for Italy
From 2025, MRL Tires will work exclusively with Olpneus in the Italian market. The Sicily-based wholesaler has already distributed the MRL agricultural and industrial range on a non-exclusive basis for around four years, and in mid-2024 the MRL Tires team decided to take this partnership to the next level. “We believe in the company, and are very confident that in the years to come we will have a much bigger business in the Italian market, together with Olpneus,” comments Satinder Singh, General Manager of Export Sales & Marketing at MRL.
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NIRA Dynamics pairs real-time tyre data with weather information
NIRA Dynamics, which is known for its indirect TPMS technology, and Vaisala Xweather have releases an integrated data set which connects road weather forecasts and computer vision observations with real-time connected car data. The integration draws on NIRA Dynamics’ data from billions of data points gathered from connected vehicles, paired with Vaisala Xweather’s advanced artificial intelligence (AI) and machine-learning-based (ML) road weather forecasting models. These, according to the companies, achieve accuracy levels 50 per cent higher than those of publicly available forecasts.
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Global TPMS market could be worth >$13 billion by 2032
The global Tyre Pressure Monitoring System (TPMS) market was worth $6-8 billion in 2023 a figure that could double by 2032, according to the latest reports published by two market research firms. The worldwide TPMS market reached a value of US$5.87 billion in 2023, according to Research and Markets. Furthermore, the market is projected to grow at a compound annual growth rate (CAGR) of 9.4 per cent between 2024 and 2032 to reach a value of $13.2 billion by 2032.
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Aftermarket driving US tyre shipment growth
The U.S. Tire Manufacturers Association (USTMA) projects that total tyre shipments in the USA will reach 338.9 million units in 2024, an increase of 2.1 per cent compared with the 331.9 million units shipped last year and 1.8 per cent more than the 332.7 million units in 2019. This year’s shipments look set to surpass the previous record of 335.2 million units in 2021.
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Tirupati Tyres CEO, Chairman resign – new CFO appointed
Indian tyre maker Tirupati Tyres Ltd has announced the resignation of both its Managing Director and Chief Executive Officer, Avinash Anil Ghorpade, and of company Chairman, Chander Prakash Sharma. These resignations are effective 3 December 2024. Additionally, Tirupati Tyres has appointed a new Managing Director and Chief Financial Officer; Pavan Patel has taken on this role for a period of five years, effective 2 December 2024.
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Jongho Park named president of Hankook Tire Europe
Effective 1 December 2024, Jongho Park has been appointed as chief operating officer (COO) and president for Hankook Tire Europe. Park will lead the premium tyre manufacturer’s operations in its key European market. He takes over the role from Sanghoon Lee, who will be assuming responsibility for Hankook Tire & Technology as president and Chief Executive Officer (CEO).
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Falken Tyres becomes new tyre partner to PDC
Falken Tyre Europe GmbH has become the Official Tyre Partner to the Professional Darts Corporation (PDC) – a partnership that will launch at the upcoming 2024/25 World Darts Championship at Alexandra Palace (London). For several years before this, Toyo Tyres has sponsored PDC.
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Agreement for proposed EUDR delay
The European Commission has welcomed the provisional political agreement reached between the European Parliament and the Council on its proposal to delay the start of the EU Deforestation Regulation (EUDR) by 12 months, claiming this longer phase-in period will “ensure proper and effective implementation” while “preserving its integrity.”
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Hongsheng’s PCR tyre exports increased 20%
Hongsheng Rubber reports that overseas orders increased significantly in 2024, with a 20% increase in the first half of the year. And moving forward, the company’s production capacity has been scheduled until March 2025, according to an interview with local media in Guangrao.
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Wanda Boto’s parent company controls listed company
China Wanda Group, the parent company of Shandong tyre manufacturer Wanda Boto, has become the controlling shareholder of Shenghang Group. Li Taoyuan, the former controlling shareholder and actual controller of Shenghang Group has signed a share transfer agreement and a voting entrustment agreement with China Wanda Group.
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Hankook Tire a partner in Korean tyre mould recycling project
Hankook Tire & Technology shares that its Hankook Technodome research institute is collaborating to develop eco-friendly manufacturing technologies as part of a project led by South Korea’s Ministry of Trade, Industry and Energy (MOTIE). The aim is to develop technology for reusing discarded tyre moulds in the manufacture of new, reusable moulds.
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