Nokian Tyres boosts USA plant workforce by 125
When announcing expansion plans for its North American plant in January 2023, Nokian Tyres said it would increase the workforce to 475 by hiring 75 new employees. The company has now completed the recruitment process, having hired 125 new workers for the Dayton, Tennessee factory as part of plans to double production at the facility by 2024.
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Ceat acquires remaining Tyresnmore shares
Indian online tyre retailer Tyresnmore.com is now a wholly owned subsidiary of Ceat Ltd. On 4 August, the tyre maker entered into a share purchase agreement with Tyresnmore Online Private Limited to acquire 108,637 equity shares in the business, an amount equal to a 39.34% of its total share capital.
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Intelligent tyres: Tire Society details 42nd annual conference papers
The Tire Society has published the details of presentations scheduled for its 42nd Annual Conference (12-13 September 2023, at the University of Akron, Ohio). In addition to in-person attendance, benefitting from live Q&A, sponsor exhibits and a student poster session, registrants can access the presentations after the Conference via a “play-on-demand” feature. Registration includes Tire Society Membership, which gives access to the critically reviewed Tire Science and Technology Journal.
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Boeing, Michelin extend global distribution arrangement
Michelin North America, Inc. and Boeing have signed a renewal of the two parties’ authorised distribution agreement, extending the current agreement through December 2028. The agreement reaffirms Boeing Distribution as a global distributor for Michelin’s full line of cross-ply and radial aviation tyres, as well as tubes for the business, commercial, regional, military and general aviation markets.
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Re-cycling: Bicycle tyre repairs make bikes more sustainable
Rema Tip Top recommends repairing punctured tubes rather than disposing them too quickly. And to that end, the company has been developing bicycle tyres repair products for over 100 years. Now the company has released a video showing how repairs can be done easily and quickly.
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Cosmo Tires launches first retail partnership
Cosmo Tires and Paul’s Tire Services of Hollywood, Florida have opened the first Cosmo-branded retail store. The 8,000 square foot facility marks a significant milestone for Cosmo Tires offering “an enhanced tyre shopping experience for its customers.”
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Australia’s RPM to expand tyre wholesaling through acquisition
Effective 1 September 2023, Australia’s RPM Automotive Group Limited is acquiring regional wholesaler and retailer Chapel Corner Tyres. By purchasing this Melbourne-based firm, RPM aims to scale its wholesale tyre division distribution network in the Victoria metro region.
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Point S expands into Macau
After arriving in mainland China in mid-2020 and Hong Kong later that year, Point S has now gained a presence in Macau with the establishment of two franchise outlets. The first of these, Point S Kong Nam Tyre and Auto Supplies in Taipa, opened its doors on 27 July.
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Goodyear share price down 20% after Q2 results
The Goodyear Tire & Rubber Company’s fell share price fell 20 per cent when markets opened on 3 August 2023. The sharp fall to around $12.30 represents the lowest point since investor Elliott called for largescale strategic and board composition changes on 11 May 2023. At the time of going to press, Goodyear’s share price was showing signs of recovery and trading at around $13.15.
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Yokohama OHT suffered cyber attack in June – reports
At the end of June, at least some of Yokohama OHT’s computer systems were attacked the Akira Ransomware Group. According to reports by two online media sources, the Akira group launched its cyber attack on Yokohama OHT on 21 June 2023.
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Goodyear reports $208 million overall net loss in Q2 2023
The Goodyear Tire & Rubber Company has reported a second quarter 2023 net loss of $208 million compared to net income of $166 million a year ago. According to executives, the sharp drop was primarily due to lower sales volume and higher “other expense”, driven by lower net gains on asset sales and higher pension costs.
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Artisanship alive & well in tyre development
Creating a tyre tread by hand may seem old fashioned, but even the largest manufacturers rely upon skilled carvers when developing new patterns. We visited Continental in Germany to see how this is done and to learn why automation hasn’t consigned carving to the history books.
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Goodyear EMEA lost $19 million in Q2 2023
Goodyear lost $19 million in the EMEA region in the second quarter of 2023, with segment operating income down $71 million or 136.5 per cent compared with the $52 million operating income achieved at the same point in 2022.
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Falken manufacturer exploring tyre recycling tech
Sumitomo Rubber Group sold 110 million tyres worldwide in 2022 and is well aware of the importance that these products be recycled at the end of their working lives. For this reason, three group companies are collaborating to explore new recycling technologies.
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Repairify and Capricorn agree Australia/New Zealand joint venture
Repairify Australia Holdings Pty Ltd and Capricorn Society Limited have entered into a joint venture agreement to deliver “leading-edge remote automotive repair solutions to repairers across Australia and New Zealand”. Repairify and Capricorn have equal ownership of the joint venture, which will be branded as Repairify and distributed across Australia and New Zealand by Capricorn through the Capricorn Preferred Supplier Network.
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