![America first: Continental sister company Schaeffler investing across the pond](https://www.tyrepress.com/wp-content/uploads/2023/03/Welt-Rosenfeld-sml.jpg)
America first: Continental sister company Schaeffler investing across the pond
Major German automotive components supplier Schaeffler Group, which like tyre and automotive systems firm Continental counts the Schaeffler family’s IHO Holding as a significant shareholder, is shunning investment at home and in Europe in favour of the USA. In addition to more advantageous energy prices, Schaeffler looks approvingly upon the USA’s more pragmatic approach to climate issues.
Continue Reading![Grupo Andrés invests in financial management consultancy iFinanciera](https://www.tyrepress.com/wp-content/uploads/2023/03/Andres-iFinanciera-sml.jpg)
Grupo Andrés invests in financial management consultancy iFinanciera
Grupo Andrés, a leading tyre distributor in the Iberian Peninsula, has acquired a 20% stake in specialist financial management consultancy iFinanciera. Explaining the decision to invest, Javier Andrés Herrera states that involvement in iFinanciera is closely linked to the development and growth of Grupo Andrés’ own companies and provides important synergies.
Continue Reading![China’s tyre recycling industry lags behind](https://www.tyrepress.com/wp-content/uploads/2023/02/imthaz-ahamed-vVLrfAzmWYw-unsplash-scaled.jpg)
China’s tyre recycling industry lags behind
In recent years, authorities in many regions of China have put waste tyre recycling on their agenda. Recycling waste tyres is a reusable resource that aligns with China’s current green and sustainable development policy and can bring profits to tyre companies. Tyrepress China notes that ZC Rubber, Linglong, Doublestar and other tyre manufacturers have begun to lay out their plans in this industry. For example, in December 2022, Linglong Anhui Manufacturing Base announced that it was preparing to launch a project to recycle 30,000 tons of waste tyres annually and its feasibility study provides numerous insights into the development of the wider Chinese tyre recycling business.
Continue Reading![Galgo attends 2023 OTR Tire Conference](https://www.tyrepress.com/wp-content/uploads/2023/02/Pre-Q-at-2023-OTR-Conference-scaled.jpg)
Galgo attends 2023 OTR Tire Conference
Pre-Q Galgo Corporation attended the 2023 OTR Tire Conference in Tucson, Arizona between 22 and 25 February. We were excited to attend the meeting functions and exhibit at this years event. The conference was exciting, and the relaxed atmosphere allowed us to spend quality time with our customers”, said Ron Elliott marketing manager, Pre-Q Galgo Corporation, adding:
Continue Reading![Neumaticos Andres exhibiting at TyreXpo Asia 2023](https://www.tyrepress.com/wp-content/uploads/2023/02/stand_mockup_01-scaled.jpg)
Neumaticos Andres exhibiting at TyreXpo Asia 2023
In mid-February Neumaticos Andres announced that it is exhibiting at TyreXpo Asia 2023 from 8 to 10 March 2023. The presence of Neumaticos Andres at TyreXpo Asia is said to be part of parent company Grupo Andres’ international business expansion strategy, which involves “keeping abreast of the latest trends in the sector, undoubtedly found at the TyreXpo event at the Marina Bay Sands Convention Centre in Singapore”.
Continue Reading![Titan International: Strong 2022 results, India concerns](https://www.tyrepress.com/wp-content/uploads/2023/02/Goodyear-Titan-plhder.jpg)
Titan International: Strong 2022 results, India concerns
Titan International, Inc. has reported record turnover and profitability during the 2022 financial year. While the US-based manufacturer of OTR tyres and wheels increased its net sales by 21.9% to US$2.2 billion, income from operations jumped by more than 141% to $205.8, almost doubling the return on sales to 9.5%.
Continue Reading![In memoriam: BKT’s Dr Arup Saha Deuri](https://www.tyrepress.com/wp-content/uploads/2020/10/59_QWJzdHJhY3QgYmFja2dyb3VuZCB3aXRoIGVhcnRoLmpwZw-scaled-e1602237450291.jpg)
In memoriam: BKT’s Dr Arup Saha Deuri
Balkrishna Industries Ltd. (BKT) has paid tribute to Dr Arup Saha Deuri, who was Head of Materials and Compound (R&D) at the company’s Bhuj plant and a renowned Indian rubber technologist. Dr Deuri passed away on 17 February 2023, at the age of 62, due to liver issues.
Continue Reading![SRI joins tyre data association GDSO](https://www.tyrepress.com/wp-content/uploads/2023/02/GDSO-members-sml.jpg)
SRI joins tyre data association GDSO
Sumitomo Rubber Industries, Ltd. joined the non-profit association GDSO (Global Data Service Organisation for Tyres and Automotive Components) in January 2023 and is now contributing towards industry-wide efforts to establish a means of and standard for identifying, managing and transferring data from individual tyres.
Continue Reading![Michelin China opens new Shanghai HQ](https://www.tyrepress.com/wp-content/uploads/2023/02/Picture4.jpg)
Michelin China opens new Shanghai HQ
On 20 February 2023, Michelin held the opening ceremony for its new China headquarters office building in Shanghai. Joan Valadou, Consul General of France in Shanghai, Ye Fei, President of Michelin China, and others attended the event. The new headquarters of Michelin China is located in Changning District, started construction in September 2022 and was completed in January 2023.
Continue Reading![Japanese tyremakers lead the way in share price performance](https://www.tyrepress.com/wp-content/uploads/2023/02/Japanese-Share-perf.jpg)
Japanese tyremakers lead the way in share price performance
Full-year 2022 financial results show that – in terms of share price performance, at least – Japanese tyre manufacturers are leading the way on the global stage. Much has happened in the last five years, but five-year share price data is clear that the costs of chip shortages, shipping, dearer raw materials, pandemic and war have hit European and Western tyre brands harder than their Japanese counterparts. We compared the share performance of five of the largest European and Western tyre brands (namely: Michelin, Goodyear, Continental, Pirelli and Nokian) during the last five years with the leading Japanese-based tyre manufacturers (Bridgestone, Sumitomo Rubber Industries, Yokohama and Toyo Tires) in order to gain an insight into their relative performance.
Continue Reading![Mixed feelings about Russia? – Titan International sends letter to Biden](https://www.tyrepress.com/wp-content/uploads/2023/02/dearjoe.jpg)
Mixed feelings about Russia? – Titan International sends letter to Biden
In its most recent quarterly report, US-based off-highway tyre manufacturer Titan International, Inc. reports owning 64.3% of Russian tyre maker Voltyre-Prom, with the Russian Direct Investment Fund the remaining shareholder. Yet this connection with Russia hasn’t stopped Titan raising its voice against indirect imports of Russian petroleum products into the USA. Together with the United Steelworkers union, Titan has even sent a letter to Joe Biden.
Continue Reading![European car sales could grow 5-10 per cent in 2023 as battery electric vehicle competition heats up](https://www.tyrepress.com/wp-content/uploads/2021/07/Hankook-ID4-sml.jpg)
European car sales could grow 5-10 per cent in 2023 as battery electric vehicle competition heats up
A new automotive report from Bloomberg Intelligence (BI) anticipates 5-10 per cent growth for European car sales in 2023. European car sales climbed 12 per cent in January, helped by easy year-earlier comparisons, fewer supply-chain hurdles and pent-up demand that boosted registrations. While these new figures may bode well for sentiment, they still trail 2019 considerably, 25 per cent lower. In BEV share, the UK led other European nations, but other major markets now have the benefits of far more generous subsidies reducing the cost of the shift to electric powertrains.
Continue Reading![SRI installs largest solar rooftop panel](https://www.tyrepress.com/wp-content/uploads/2023/02/Sumitomo-Thailand-sml.jpg)
SRI installs largest solar rooftop panel
It’s hard not to love a superlative, so thanks to Sumitomo Rubber Industries for sharing that its tyre factory in Thailand now possesses the world’s largest rooftop solar panel array. As of 1 February 2023, the set-up at the Sumitomo Rubber (Thailand) plant is the world’s largest rooftop solar panel array installed at a single facility.
Continue Reading![Brisa: Inflation without TPMS](https://www.tyrepress.com/wp-content/uploads/2023/02/Lassa_tb.jpg)
Brisa: Inflation without TPMS
Not so long ago the word ‘inflation’ typically drew thoughts to tyre pressure, at least in our line of work. But the other inflation has made an unwelcome comeback and is eating away at our purchasing power. Over in Turkey, the rate of inflation hit 72% in 2022 and made its presence known in Brisa’s financial results for the year. But against this backdrop of growing Turkish Lira weakness, the tyre maker had a good year.
Continue Reading![Continental tyres to be made from 100% sustainable materials by 2050](https://www.tyrepress.com/wp-content/uploads/2023/02/01-EcoContact-6-ContiRe.Tex_-scaled.jpg)
Continental tyres to be made from 100% sustainable materials by 2050
In 2020, Continental AG announced its goal of being carbon-neutral across the business by 2050. Also as of the 2020 fiscal year, Continental confirmed that it is procuring all of the electricity for its production sites around the world from renewable energy sources. Now, the German-based tyremaker is emphasising its goal of making tyres 100 per cent manufactured from sustainable materials by 2050.
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