BASF approves Pyrum expansion loan
In 2020, chemical company BASF invested 16 million euros in Pyrum Innovations as part of its ChemCycling project and since then has purchased Pyrum pyrolysis oil, feed this into its production network for the manufacture of Ccycled products. BASF looks forward to significantly increasing the quantities of pyrolysis oil it uses when Pyrum brings planned new facilities online – and is now supporting this plant rollout through the signing of a cooperation agreement, under which it will initially provide Pyrum with 25 million euros of financing.
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Pyrum announces further pyrolysis JV
Recycling company Remondis Group recently signed a letter of intent with Pyrum Innovations. The partners intend to set up a plant for reclaiming raw materials from end-of-life tyres on a site in Bremen, Germany that’s owned by Weserport, a subsidiary of Remondis sister company Rhenus. This plant will be capable of recycling 20,000 tonnes of tyres annually.
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Ceat resumes production in Bhandup plant
The Maharashtra Pollution Control Board, the environmental regulatory body in India’s Maharashtra state, has permitted Ceat Ltd. to restart operations at its Bhandup plant. It issued directions to this effect on 13 November 2023; these allow the tyre maker to resume production in Bhandup provided it complies with “certain conditions”. Notifying the BSE and National Stock Exchange of India of this development, Ceat does not mention specific details of these conditions but confirms it is “taking necessary steps” to fulfil them.
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Goodyear to end tyre manufacturing in Fulda and Fürstenwalde
Following the publication of the company’s Goodyear Forward global cost reduction and business transformation strategy, Goodyear EMEA is proposing the closure of its Fulda and Fürstenwalde car tyre factories in Germany. The plans specifically involve the closure of the Fulda plant by the end of the third quarter of 2025 and “a gradual phase-out of all tyre manufacturing activities in Fürstenwalde by the end of 2027”. However, the mixing department in Fürstenwalde will continue its operations, “supplying compounds to tyre plants across Europe”.
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Jiangsu General renovates the Wuxi tyre factory’s TBR line
On 11 November, Jiangsu General announced it will invest 880 million yuan (approximately £98 million; €113 million) in renovating the all-steel radial tyre production line at its Wuxi plant. The renovation cycle is 18 months. After completion, Jiangsu General will increase its annual production capacity of 6 million semi-steel radial tyres.
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Nankang provides off-take tyres to Federal, appoints new leadership
On 1 November, Federal Corporation announced that chairman and general manager Chen Heng Kuan resigned. Recently, the tyre manufacturer’s board of directors appointed new leaders. Starting 9 November, Kuo Lin-Liang, chairman of Nankang Tire, will become chairman of Federal. Chung Cheng-Yen, an executive assistant to the chairman of the Federal, assumes the general manager position.
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Wanli increases Guangzhou tyre factory capacity to 30 million units
Recently, Wanli Tire stated that to meet market demand, it plans to carry out a third phase expansion project in the vacant land reserved by its Guangzhou factory. According to the plan, the construction of the expansion project will be divided into two phases, adding a production capacity of 12 million semi-steel radial tyres.
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Goodyear values Dunlop at ~$0.7 billion
Following the news that Goodyear is planning to raise around $2 billion from the sale of Dunlop as well as its OTR tyre and chemicals businesses, the company revealed further details during a follow-up conference call. The financially biggest part of the recently-unveiled Goodyear Forward business transformation plan is the proposed sale of Dunlop, plus the OTR tyre and chemicals businesses. Goodyear estimates that these areas are worth around $0.7 billion, $0.7 billion and $1 billion in annual sales respectively.
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Kenda breaks ground on new Martin Wheel manufacturing plant in Ohio
Kenda has broken ground on the construction of a new 198,000 sq ft Martin Wheel manufacturing facility in Brimfield Township, Ohio, USA. In a social media post announcing the start of construction, the Taiwan-headquartered tyre and wheel firm said the facility, which will contain a plant, warehouse and office space will support growing demand for speciality tyres and wheels in the United States. and is set to be operational in 2024.
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Pirelli inaugurates Mexico R&D centre
Last year Pirelli said that it would invest $15 million over a period of two years, in a specialist 6,000 square-metre R&D centre alongside its Silao, Mexico tyre factory. Now, that centre has been officially inaugurated.
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Goodyear “pursuing strategic options” to Dunlop, OTR tyres and Chemical business in $2 billion “portfolio optimisation”
The Goodyear Tire & Rubber Company is unveiling its “Goodyear Forward” transformation plan, which – precipitated by the now infamous Elliott letter – is designed to – “optimize its portfolio, deliver significant margin expansion and reduce leverage to drive sustainable and substantial shareholder value creation”. First off, that means generating “gross proceeds in excess of $2 billion” from pursuing a “strategic alternatives for its Chemical business, the Dunlop brand and the Off-the-Road equipment tyre business.” The business will also continue with a new CEO following the parallel announcement of the retirement of current CEO Richard J. Kramer.
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Kramer to retire after 24 years with Goodyear
Richard J. Kramer has informed Goodyear’s board of his plans to retire as chairman, CEO and president of the company in 2024. Goodyear described Kramer’s retirement as “planned” and added that the subject has been “previously discussed with the board as part of the company’s ongoing and active succession planning process”. No successor has been named, but, as part of those plans, “the Goodyear Board retained a leading executive search firm to execute a search considering both internal and external candidates”.
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Goodyear Kmax S, D Gen-2 17.5 -19.5” range debuts at Solutrans 2023
Goodyear will launch the new Kmax S (steer) and D (drive) Gen-2 17.5” and 19,5” commercial vehicle tyres at French commercial vehicle trade show Solutrans 2023 (21-25 November, Lyon; Hall 5, Location A031). Goodyear has enhanced the fuel efficiency of its second-generation Kmax range. The manufacturer says the enhancements to its product range respond to evolving market demands like emission reduction and electrification, as well as reducing costs. The Gen-2 steer and drive Kmax tyres will be available from the beginning of 2024.
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Goodyear UltraGrip Ice 3 victorious in multiple Nordic winter tyre tests
Goodyear’s new Nordic friction – or non-studded – winter tyre, the UltraGrip Ice 3 has gained several podium positions in the 2023 winter tyre testing season. The tyre won two Finnish tests from magazines Moottori and Tekniikan Maailma, and claimed second place in the tests conducted by Swedish magazines Vi Bilägare and Teknikens Värld. The Goodyear UltraGrip Ice 3 incorporates a range of the manufacturer’s latest winter tyre technologies, including Ice Grip technology, Ice Handling+ technology, and Snow Braking technology.
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Apollo Tyres signs Ceva Logistics distribution partnership in France
Apollo Tyres has signed a new tyre distribution deal with leading logistics provider Ceva Logistics in France. Apollo began integrating Ceva Logistics into its supply chain in May, since which it says it has cut average lead times to under four days. Apollo adds that the partnership has improved the overall ordering and delivery experience for customers. Ceva Logistics focuses on fulfilling orders of between six and 40 tyres from Apollo Tyres’ warehousing facilities in Enschede, the Netherlands. Larger Apollo orders will continue to be fulfilled by an existing, well-proven partner that typically collects from Apollo Tyres’ factory in Hungary.
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