Tyrexpo Asia attracts 120 exhibitors
Four months before TyreXpo Asia 2024 opens in a new location in Thailand at the Bangkok International Trade & Exhibition Centre (BITEC) running from 15 to 17 May, the show’s organisers are confident the event will attract 120 exhibitors and 4000 attendees from around 60 countries.
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Goodyear appoints Greg Shank as senior IR director
The Goodyear Tire & Rubber Company has named Greg Shank as senior director of Investor Relations (IR). He reports to Christina Zamarro, executive vice president and Chief Financial Officer (CFO).
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Bridgestone wins design rights lawsuit in China
The Supreme People’s Court of the People’s Republic of China has ruled in favour of Bridgestone Corporation in a lawsuit against Shandong Hawk International Rubber Industry Co., Ltd. (Hawk Tyre). Bridgestone had alleged that the Chinese manufacturer infringed its tyre tread design rights.
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Colmec acquires Bohmans Däck, expanding Swedish tyre servicing operation
Colmec Group has acquired Bohmans Däck in eastern Sweden. The Norrköping based business includes tyre service for passenger cars, trucks, construction machinery, and tractors. Bohmans Däck will continue to operate under its own name and corporate identity, while developing and expanding its business and services as a result of its place within the Group. The company operates two facilities in Norrköping, Fabriksgatan and Smedbygatan.
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Russia’s tyre production down 30% since 2021
According to Rosstat, Russia’s Federal State Statistics Service, tyre makers within the Russian Federation produced 45.6 million tyres and rubber tubes last year, 10.2 per cent fewer than in 2022 – a figure in turn 21.4 per cent lower than the 65.1 million tyres and rubber tubes manufactured in 2021. In total, tyre and tube production decreased 30.0 per cent between 2021 and 2023.
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Leading tyremaker stocks down 2.35% as EC antitrust case opens
The share prices of Bridgestone, Continental, Goodyear, Michelin, Nokian and Pirelli were down by an average of 2.35 per cent following the news that the European Commission has started an antitrust investigation within the European Union.
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Chandgie named COO of Yokohama Tire Corp.
Yokohama Tire Corporation has promoted Stan Chandgie, who is currently EVP of Sales & Support, to the position of Chief Operating Officer. Chandgie begins in this role on 1 April 2024 and will add marketing, tyre business planning, and supply chain/logistics to his existing remit of overseeing consumer and commercial sales. He will report to Jeff Barna, President and CEO of Yokohama Rubber’s North American manufacturing and sales business.
Continue Reading Tyre News in Numbers – January 2024
Tyres & Accessories monthly Tyres News in Numbers column boils down the latest tyre industry news to the most important statistics of the month. This month we look at the big numbers from December 2023. £300 million The estimated worth of the total market for UK-produced and imported alloy wheels
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Leading European tyremakers investigated as part of price-fixing investigation
Unannounced inspections, investigations, visits, raids. Whatever you call them, having the European Commission come knocking uninvited is not how any tyre manufacturer wants to start 2024. Nevertheless, that is exactly what happened at the tail-end of January across “several member states” within the European Union.
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Continental consolidates tyre warehousing at Czechia tyre plant
As part of measures to centralise warehousing in the local area, Continental has officially opened a fully automated high-bay warehouse at the site of its tyre production plant in Otrokovice, Czech Republic. This 10,000 square metre, 43-metre-high facility – approximately as tall as the Statue of Liberty – has the capacity to store more than 930,000 tyres.
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Michelin confirms it has been investigated in EC antitrust case
Following the news that the European Commission has opened a price-fixing investigation across “several member states”, Michelin has officially confirmed that it too has been investigated as part of EC antitrust case. Nokian, Goodyear, Continental, Pirelli and Bridgestone have also been investigated as part of the EC case.
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ETRMA not subject to EC inspection
Yesterday the European Commission announced it was “carrying out unannounced inspections at the premises of companies active in the tyres industry in several Member States.” So far, we’ve learned that Bridgestone, Continental, Goodyear, Michelin, Nokian Tyres, and Pirelli received visits from EC officials.
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European Commission ‘conducting antitrust inspection’ at Bridgestone
Bridgestone joined four other manufacturers in confirming to Tyrepress that it has been part of the European Commission’s series of unannounced inspections at tyre makers active within several European Union member states. A representative told Tyrepress: “Bridgestone can confirm that the European Commission is conducting an inspection at its European Headquarters. As a responsible company that is committed to fair practices and transparency, Bridgestone is fully cooperating.”
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Pirelli confirms EC antitrust inspectors visit
Pirelli has confirmed that it is among the tyre manufacturers in European Union member states receiving an unannounced visit from European Commission investigators today, according to Tyrepress sister site PneusNews. The EC is concerned that companies producing replacement market tyres for cars, vans, trucks and busses may have “violated EU antitrust rules that prohibit cartels and restrictive business practices.” A Pirelli spokesperson said the company “has always acted in total compliance with all rules and regulations,” adding that “it is guaranteeing full support” to investigators.
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European Commission investigators make unannounced inspection at Continental
The European Commission’s unannounced inspections at European tyre company premises today included Continental. The Hanover, Germany based manufacturer said, “We can confirm that as of today investigations by European antitrust authorities are taking place at Continental in Germany.” A representative added that the company could not comment further on an ongoing investigation. The EC is investigating concerns of price coordination on new replacement tyres for passenger cars, vans, trucks and busses sold in the European Economic Area.
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