![Continental may get as little as £70 million for Russian business](https://www.tyrepress.com/wp-content/uploads/2023/05/plant-tour.jpg)
Continental may get as little as £70 million for Russian business
When Continental first discussed setting up a plant in Russia back in 2011, it spoke of an investment of around 220 million euros. According to sources within Russia, the German company may only recover a fraction of this amount when divesting its local operation to S8 Capital. Moscow-based newspaper Kommersant states that the transaction is valued at 7 to 10 billion roubles, or just 80 million to 114 million euros, a figure in line with the “impaired assets of around 87 million euros” that Continental reported in connection with its business activity in Russia on 8 March 2023.
Continue Reading![Goodyear to close Philippsburg operation, opening two new tyre distribution centres](https://www.tyrepress.com/wp-content/uploads/2023/04/Philippsburg_tb.jpg)
Goodyear to close Philippsburg operation, opening two new tyre distribution centres
Goodyear EMEA is opening two new distribution centres in Cheb, the Czech Republic, and Amiens, France. The announcement coincides with the news that Goodyear is closing its Philippsburg, Germany operation. Goodyear announced that it was closing its Philippsburg, Germany tyre factory in 2016 and production ceased in 2017. Since then, it has been run as a tyre distribution centre in conjunction with a third-party logistics firm. Tyres & Accessories understands that the Philipsburg tyre distribution operation is no longer as efficient and effective as Goodyear had hoped. The company is now consulting with employees regarding the future of 15 jobs in Philippsburg.
Continue Reading![AiP for Michelin WISAMO, commercial testing begins](https://www.tyrepress.com/wp-content/uploads/2023/04/wisamo-sml.jpg)
AiP for Michelin WISAMO, commercial testing begins
Michelin reports that its inflatable Wing Sail Mobility (WISAMO) system has been installed on the Compagnie Maritime Nantaise ro-ro container ship MN Pelican. The vessel is testing the inflatable system’s endurance and use on its weekly rotations between Bilbao, Spain and Poole, UK. Feedback generated by these tests will support the giant wing sail’s ongoing development.
Continue Reading![European imports of OTR tyres continue rapid growth trend – Astutus Research](https://www.tyrepress.com/wp-content/uploads/2023/04/9_Cat-Mittelgroser-Radlader-972-1-scaled.jpg)
European imports of OTR tyres continue rapid growth trend – Astutus Research
The United Kingdom and European Union is importing an increasing tonnage of Off-The-Road (OTR) tyres, as the sector responds to internal and external trends. Externally, sinking shipping costs and relatively controlled production costs are particularly favouring Asian manufacturers. And with Russia’s war on Ukraine making the country a pariah in European trading terms, there are additional reasons to source increasing numbers of OTR tyres from South Asia. Trading relations with Russia’s closest supporter Belarus are also frosting, which could see further gains for Asian factories, while emerging tyre producing nations like Serbia could also reap the benefits. While the size, weight and per unit cost of the largest tyres could present arguments in favour of more localised production, lower manufacturing and materials costs weigh even more heavily in this balance of factors.
Continue ReadingVW’s EV battery gigafactory in Ontario will strengthen its vertical integration plans – GlobalData
Following the news that the Canadian Federal Government and Volkswagen have agreed to invest more than $14.8bn for the construction of a battery gigafactory in Ontario, Lucy Tripathi, automotive senior analyst at GlobalData, ocomments: “Volkswagen is the second largest automaker in the world and the battery cell business is one of its new auto strategies, which will help the company in becoming a leader in low-carbon or zero-carbon emission mobility. The goal of Volkswagen is to have 80 per cent of its vehicles to be electric by 2030.
Continue Reading![Van & truck registrations up across Europe](https://www.tyrepress.com/wp-content/uploads/2023/04/truck-sml.jpg)
Van & truck registrations up across Europe
According to figures published by the European Automobile Manufacturers Association (ACEA), Registrations of vans and trucks grew both in the UK and the EU during the first quarter of 2023, but the EU-wide increase seen in bus registrations was absent in our market.
Continue Reading![Nokian becomes Ikon in Russia](https://www.tyrepress.com/wp-content/uploads/2023/04/Ikon_logo-sml.jpg)
Nokian becomes Ikon in Russia
The terms of the license agreement signed when the Nokian Tyres operation in Russia changed hands compel the new owner to cease using all trademarks and names belonging to the Finnish tyre maker, except Nordman. The Tatneft-owned business has thus rebranded from Nokian to Ikon Tyres.
Continue Reading![2023 Guangrao Tire Exhibition showcasing Chinese and international tyre manufacturing](https://www.tyrepress.com/wp-content/uploads/2023/04/Picture1.png)
2023 Guangrao Tire Exhibition showcasing Chinese and international tyre manufacturing
From 15-17 May 2023, the 13th China (Guangrao) International Rubber Tire & Auto Accessory Exhibition (ChinaGRTAE 2023) will be held in Guangrao County, Shandong Province, China. According to the show’s organiser, more than 50 tyre manufacturers are participating in the ChinaGRTAE 2023. In addition to local tyre manufacturers, well-known tyre manufacturers such as Goodyear, Continental, Dunlop, CST (Cheng Shin Tire), Giti, Sailun, Nexen, and Kenda, will also set up booths at this exhibition. Upstream and downstream enterprises in the tyre manufacturing industry chain, such as Solprima, Xingda Steel Cord, MAK, Jinfei Kaida wheel, and Yueling wheel hub, will also participate in this exhibition.
Continue Reading![Germany’s Rigdon to retread car tyres](https://www.tyrepress.com/wp-content/uploads/2023/04/MGGA-sml.jpg)
Germany’s Rigdon to retread car tyres
Car tyre retreading has been a niche activity in recent years, but on 5 April French firm Black Star presented its ‘Leonard’ line-up and announced plans to make a million of these tyres a year. And it isn’t the only tyre company entering this segment, as German retreader Rigdon says it is also planning a retreaded car tyre range of its own.
Continue Reading![Nankang a Nürburgring advertising partner](https://www.tyrepress.com/wp-content/uploads/2023/04/Nankang-Breidscheid-sml.jpg)
Nankang a Nürburgring advertising partner
Future visitors to the Nürburgring Nordschleife will see 87 metres of Nankang branding in the ‘Breidscheid’ area. The Taiwanese tyre maker has initially signed up as an advertising partner at the Nürburgring until the end of 2025.
Continue Reading![JK Tyre develops 80% sustainable tyre](https://www.tyrepress.com/wp-content/uploads/2023/04/UX-GREEN-Tyre-sml.jpg)
JK Tyre develops 80% sustainable tyre
A couple of weeks after Apollo Tyres unveiled car tyres containing 75% sustainable materials, JK Tyre & Industries has seen Apollo’s 75 and raised it 5. The company has produced a passenger car radial with 80% recycled and renewable materials – and says it will offer such a range “in due course.”
Continue Reading![Nokian Tyres: 18.8 million-euro Q1 2023 loss, but pricing should mitigate income problems](https://www.tyrepress.com/wp-content/uploads/2023/04/Nokian-2.jpg)
Nokian Tyres: 18.8 million-euro Q1 2023 loss, but pricing should mitigate income problems
Nokian Tyres has presented its first quarterly results since the company sold its Russian operations to Tatneft its resultant production gap. In short, first quarter 2023 net sales were 236.4 million euros down 26.8 per cent compare with 322.9 million euros during the same period last year. That meant an operating loss of 18.8 million euros compared with 21.5 million euros of operating profit in the first quarter of 2022.
Continue Reading![Nokian Tyres’s Romania plant breaking ground in May 2023, 2-3 offtake deals to fill production gap](https://www.tyrepress.com/wp-content/uploads/2023/04/Nokian-1.jpg)
Nokian Tyres’s Romania plant breaking ground in May 2023, 2-3 offtake deals to fill production gap
Nokian Tyres’s well-publicised exit from Russia has left it with a similarly well-reported production gap that continues to impact the company’s ongoing business. Speaking as part of the company’s first quarter 2023 results presentation, Nokian Tyres executives emphasised that “new capacity is our #1 priority” and shared further details of how they are planning to fill the firm’s production gap. We already knew that Nokian plans to expand its existing factories in Nokia, Finland and Dayton, USA as well as build a new factory in Romania and make off-take contracts with third-party manufacturers, what’s new is the detail and time frames associated with “building the new Nokian Tyres”.
Continue Reading![ETRMA: Unenviable tyre sales trend continues in Q1 2023](https://www.tyrepress.com/wp-content/uploads/2023/04/DSC_0145-sml.jpg)
ETRMA: Unenviable tyre sales trend continues in Q1 2023
Manufacturer association ETRMA reports that its members experienced a “significant drop” in replacement market sales demand during Q1 2023. Compared to Q1 2022, sales within the replacement consumer tyre segment declined 12% and replacement truck and bus tyre market sales demand shrank by 18%. While sales of moto tyres were just 3% below the prior year figure, agricultural tyre sales were 39% lower.
Continue Reading![Continental opens global tyre Solution Center](https://www.tyrepress.com/wp-content/uploads/2023/04/continental_pp_lousado1-sml.jpg)
Continental opens global tyre Solution Center
To support the digitalisation of tyre solutions, production processes and business workflows at Continental Tires around the world, the company has assembled a team of IT and related specialists at a new facility in Portugal. This Solution Center is located near the Continental tyre plant in Lousado and employs around 80 people, with plans already in place to double the workforce by 2026.
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