Sentury self-financing Spanish tyre factory shortfall
On 17 January, Sentury said it will adjust its financing plan through the stock market and specifically non-public offering of shares. After the adjustment, the tyre manufacturer will obtain no more than 2.8 billion yuan (about £330 million; 380 million euros), which is far lower than the 4 billion yuan (about £480 million; 540 million euros) proposed in the previous plan.
Continue ReadingEU extends duties on aluminium wheels from China
On 19 January, the European Commission extended anti-dumping duties on aluminium road wheels from China for a further five years. The extension follows an expiry review investigation, which showed that these wheels continue to be dumped on the EU market and that industry within the European Union would suffer significant harm if the measures were allowed to lapse.
Continue ReadingBeissbarth becomes part of the Stertil Group
Beissbarth Automotive Testing Solutions GmbH is taking over Beissbarth GmbH as a subsidiary of Stertil B.V., effective 1 January 2023. Most self-administration proceedings Beissbarth GmbH applied for in July 2022 are therefore complete. The parties have agreed not to disclose the purchase price.
Continue ReadingIncreased UK, EU new car registrations in December
According to the European Automobile Manufacturers Association (ACEA), new car registrations across the EU expanded 12.8% in December 2022, the fifth consecutive month of growth during the year. Despite this positive result, only two of the region’s four major markets recorded growth. UK registrations – counted separately from EU figures – grew 18.3% year-on-year in December, to 128,462 units.
Continue ReadingMobivia: Acquiring Michelin’s ATU shares makes sense from strategic standpoint
Yesterday we reported that Mobivia Group had reacquired from Michelin its 20% stake in ATU or would do so “in the next few days,” becoming once again sole owner of the German garage and automotive parts network. At the time, Mobivia hadn’t responded to requests for further information, but a statement from company headquarters arrived this morning and sheds some light on the reason behind the buyback. What’s more, further research suggests Michelin was unable to realise its purchase price when selling the stake.
Continue ReadingYOHT – fire report incorrect
Yokohama Off-Highway Tires notes that an erroneous report of a fire at its plant in Hadera, Israel has “caused confusion in the tyre industry.” Company officials confirmed today that there was no fire at the facility.
Continue Reading3D printing to reduce Hankook’s production costs
Hankook Tire is set to reduce costs and wastage in its production facilities thanks to a research collaboration with Korea Atomic Energy Research Institute and HM3DP, a 3D printing start-up. Working with these partners, Hankook has developed ‘Damaged Parts Restoration 3D Printing Technology’, which it will use to restore titanium alloy blades that are damaged while cutting tyre rubber during the production process.
Continue ReadingNokian Tyres: Romania contributing 99.55 million euros to factory project
The government of Romania has approved state aid of almost 100 million euros to Nokian Tyres PLC. The tyre maker intends to establish a new factory in Oradea, and the ad hoc regional state aid will finance the costs related to the factory’s establishment and address the financing gap related to this greenfield investment.
Continue ReadingAnalysts: Conti ’missed’ EBIT by 15%, notwithstanding better Tires performance
Following the news that Continental AG has pre-released fourth-quarter 2020/full-year 2022 sales, adjusted pre-tax profit (EBIT) margin and free-cash-flow figures, financial analysts immediately began sharing their verdict.
Continue ReadingATU: Mobivia acquires Michelin’s minority shareholding
Five years ago, Michelin purchased a 20 per cent stake in German automotive parts and servicing network ATU for 60 million euros. The French tyre maker has now confirmed that majority shareholder, France’s Mobivia Group, will acquire the minority stake from Michelin “in the next few days” and thus become the retail chain’s sole owner
Continue ReadingVredestein sponsoring Alpine World Ski Championships
The Vredestein tyre brand is to become an Official Sponsor of the 2023 FIS Alpine World Ski Championships, which will take place in Courchevel Méribel, France, between 6 and 19 February 2023. Apollo Tyres, owner of the Vredestein brand, signed the sponsorship deal to “help drive awareness of the award-winning Vredestein winter and all-season tyre ranges.”
Continue ReadingAttend Tyrexpo Asia for free
When factoring in flights, accommodation and other expenses, the cost of attending an international tyre show can add up quickly. But Tarsus Group says this doesn’t have to be the case. In fact, you may be able to travel to Singapore and visit Tyrexpo Asia without paying a penny for the privilege.
Continue ReadingToyo: Serbia plant’s solar panels will save 200,000 tonnes of CO2
Toyo Tires has confirmed that its Indija, Serbia plant is using a “Taiyo (太陽)” solar energy array that is designed to eliminate 200,000 tonnes of CO2 over its working life.
Continue ReadingApollo Tyres opens Hyderabad Digital Innovation Centre
Apollo Tyres Ltd and the Telangana Government have agreed to open a Digital Innovation Centre in Hyderabad. The two parties signed a Memorandum of Understanding (MoU) to that effect after a meeting between the two parties during the World Economic Forum at Davos. The planned Hyderabad location is Apollo Tyres’s second Digital Innovation Centre. The first is in London.
Continue ReadingLighter & cheaper – Smart Tire Company announces latest airless tyre
A name still unfamiliar to many, The Smart Tire Company (STC) is commercialising NASA’s non-pneumatic tyre technology. It is working with vehicle manufacturers to produce shape memory alloy tyres for cars and has launched a second generation of its airless bicycle tyre. In addition to developing products for use here on Earth, STC intends to send tyres to the Moon as part of NASA’s Project Artemis.
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