![Florent Menegaux heading UN Global Compact France Network](https://www.tyrepress.com/wp-content/uploads/2023/06/Michelin-Menegaux-sml.jpg)
Florent Menegaux heading UN Global Compact France Network
The Governing Council of the UN Global Compact France Network has appointed Michelin chief executive officer Florent Menegaux to be the network’s president for a three-year term of office. The appointment took effect yesterday and began with his participation in a round table on the theme of ‘Growth or Decline: how to achieve inclusivity’.
Continue Reading![Yokohama Rubber develops crack-resistant rubber](https://www.tyrepress.com/wp-content/uploads/2023/06/Yokohama-crack-resistant-rubber-sml.jpg)
Yokohama Rubber develops crack-resistant rubber
In collaboration with partners from a Japanese university, The Yokohama Rubber Co., Ltd. has developed a rubber that is highly elastic and resistant to cracking. The company anticipates that further research in this area will lead to the development of safer and more durable tyres.
Continue Reading![Turbulent times in tyre town](https://www.tyrepress.com/wp-content/uploads/2023/06/blimp-5314195_1920.jpg)
Turbulent times in tyre town
It has not been the best 12 months for Goodyear or its employees. 2023 might mark the company’s 125th anniversary, but the combination of already-announced global job cuts, European manufacturing restructuring and ongoing cost-cutting operations mean that for many individual workers it may be their last (see page 14 of the June print edition onwards of complete coverage). This article is an example of the editorial comment that introduces every edition of Tyres & Accessories magazine. Not a subscriber? No problem, click here to become one.
Continue Reading![Are the wagons or vultures circling at Goodyear? Analysing Elliott Investment Management’s case for change](https://www.tyrepress.com/wp-content/uploads/2023/06/GAS-summit-mall-akron-oh-20160608-scaled.jpg)
Are the wagons or vultures circling at Goodyear? Analysing Elliott Investment Management’s case for change
Elliott Investment Management L.P.’s 11 May open letter to Goodyear’s board of directors sent shockwaves through the company and the markets. Essentially, Elliott’s expounded on its “deep conviction in the opportunity for Goodyear to improve after more than a decade of underperformance”, which was widely interpreted as laying down the gauntlet to Goodyear’s board and most senior executives. With Elliott calling pistols at dawn in the mid-west, the question is: is it time to buckle up and circle the wagons in Akron or are vultures circling over Goodyear? Here, Tyres & Accessories presents an in-depth analysis of Elliott’s arguments for enormous change, critically evaluating the problematic areas Elliott identifies along the way. In order to support our analysis, we spoke to senior executives close to Goodyear, those with first-hand management experience in Akron, financial analysts and third-party market researchers.
Continue Reading![Bridgestone sells shares in China truck tyre plant](https://www.tyrepress.com/wp-content/uploads/2020/10/820_earth_globe-scaled-e1602237485165.jpg)
Bridgestone sells shares in China truck tyre plant
Following the closure of the Bridgestone (Huizhou) Tire Co., Ltd. (BSHZ) truck tyre plant in China late in 2021 and the relocation of its manufacturing to Shenyang, the former plant assets in Huizhou, Guangdong Province remained Bridgestone’s property. The company today agreed to sell all shares in BSHZ to Huizhou Zhongkai Xinye Development.
Continue Reading![Mitas introduces Custom Force tyre line into Brazilian market](https://www.tyrepress.com/wp-content/uploads/2023/06/Mitas@FestivalInterlagos2023_EN-scaled.jpg)
Mitas introduces Custom Force tyre line into Brazilian market
Custom Force tyres will be on display for the first time in Brazil at São Paolo’s Festival Interlagos, along with other Mitas flagship lines for on-road, adventure and off-road riding. 80,000 visitors are expected at the annual Festival Interlagos from June 22-25 in São Paolo, with Mitas Ambassadors Rigor Rico and Marcelo Silverio in attendance.
Continue Reading![Arlanxeo establishing synthetic rubber plant in Saudi Arabia](https://www.tyrepress.com/wp-content/uploads/2021/08/placeholder-sml.jpg)
Arlanxeo establishing synthetic rubber plant in Saudi Arabia
Following the final investment decision by Aramco and TotalEnergies to build a joint venture petrochemical facility in Jubail, Saudi Arabia, Arlanxeo announced it would set up a 140 ktpa plant nearby to produce Ultra High cis Polybutadiene (NdBR) for tyre treads as well as Lithium Butadiene Rubber (LiBR) for use in plastics. Construction is scheduled to start next year and Arlanxeo expects commercial operations to commence in 2027.
Continue Reading![Continued growth for China tyre exports in May](https://www.tyrepress.com/wp-content/uploads/2023/06/cosco-container-ship-sml.jpg)
Continued growth for China tyre exports in May
China’s tyre exports continued to grow in May 2023. During the month, the country’s manufacturers exported 53.82 million new pneumatic rubber tyres, 10.3 per cent more than in May 2022. The value of these tyres rose 16.6 per cent year-on-year, to approximately RMB 12.8 billion (£1.4 billion).
Continue Reading![Toyo hosts event to mark Serbian plant’s first tyres shipped to Europe](https://www.tyrepress.com/wp-content/uploads/2023/06/toyo-europe-plant-scaled.jpg)
Toyo hosts event to mark Serbian plant’s first tyres shipped to Europe
Toyo’s European operation held an opening event at its Serbian factory on 5 June. The company was celebrating the start of deliveries to Europe of tyres manufactured at the plant; it had already been producing tyres for the North American market in Serbia as the plant went through the process of obtaining the correct certifications for Europe. With these procedures completed, the plant is now producing two patterns for Europe: the best-selling Proxes Comfort and the increasingly popular all-season tyre, Celsius AS2. These two products alone represent around 30 per cent of all of its tyres sold in Europe.
Continue Reading![Rugby: Michelin becomes 100% shareholder in ASM Clermont Auvergne](https://www.tyrepress.com/wp-content/uploads/2023/06/6038-communique-asm.jpg)
Rugby: Michelin becomes 100% shareholder in ASM Clermont Auvergne
The Michelin Group is now 100% shareholder in rugby club ASM Clermont Auvergne, a development it hopes will secure the club’s financial stability following several difficult years both on and off the field. Both parties intend Michelin’s sole ownership to be a temporary situation, with other partners – especially those from the local area – welcome to invest capital in ASM Clermont Auvergne at a later date.
Continue Reading![Cyclone: Production resumes at BKT Bhuj plant](https://www.tyrepress.com/wp-content/uploads/2023/06/BKT_BhujPlant_Aerial8-sml-550x309-1.jpg)
Cyclone: Production resumes at BKT Bhuj plant
BKT has recommenced operations at its Bhuj facility in India after shutting down the plant on the evening of 13 June. Production stopped in Bhuj as a precautionary measure related to Cyclone Biparjoy, which hit the Gujarat coast late last Thursday.
Continue Reading![Petlas launches new SnowMaster 2 Sport winter tyre](https://www.tyrepress.com/wp-content/uploads/2023/06/SNOWMASTER2_SPORT1.png)
Petlas launches new SnowMaster 2 Sport winter tyre
Petlas’s new SnowMaster 2 Sport winter tyre seeks to “define excellence in winter tyre performance”, according to the Turkish tyremaker. Company representatives report that the latest offering is “a testament to Petlas dedication to innovation, safety, and performance…”
Continue Reading![Haian Group’s IPO application accepted](https://www.tyrepress.com/wp-content/uploads/2023/06/Hainan.jpg)
Haian Group’s IPO application accepted
On 12 June, Haian Rubber Group (Haian Group)’s application for an initial public offering (IPO) on Shenzhen Stock Exchange was accepted, according to official filings.
Continue Reading![Lo Tsai-Jen becomes Cheng Shin Rubber vice chairman](https://www.tyrepress.com/wp-content/uploads/2023/06/Cheng-Shin.jpg)
Lo Tsai-Jen becomes Cheng Shin Rubber vice chairman
Taiwanese tyre manufacturer Cheng Shin Rubber has re-elected its board of directors. Chen Yun-Hwa continues as chairman of the tyre maker and Lo Tsai-Jen succedes Chen Shiu-Hsiung as vice chairman. Other members of the board of directors include Chen Shiu-Hsiung, Tseng Sung-Chu, Lee Chin-Chang, Lo Yuan-Long, Chen Han-Chi and Wu Hsuan-Miao. In addition, Lo Tsai-Jen’s son Lo Yuan-Long succeeded Huang Chung-Jen as the new director. Tseng, Sung-Ling’s directorship was replaced by his cousin Tseng Sung-Chu.
Continue Reading![Strategic tyre sensors – Italy confirms Chinese shareholder restrictions for Pirelli](https://www.tyrepress.com/wp-content/uploads/2023/06/4-3-white-cybertyresystem-sml.jpg)
Strategic tyre sensors – Italy confirms Chinese shareholder restrictions for Pirelli
Italy’s government has identified tyre sensor technology as a national strategic asset and, with the stated aim of preventing misuse of this technology, has confirmed it will use the Golden Power procedure to limit the influence that shareholder China National Tire & Rubber Corporation Ltd. (CNRC) has upon Pirelli & C. S.p.A. According to statements issued by the government on 16 June and Pirelli two days later, a range of measures will now curtail CNRC’s involvement in the tyre maker.
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