![Australia: Tasmania launches waste tyre reprocessing grant scheme](https://www.tyrepress.com/wp-content/uploads/2022/11/OZ-currency-sml.png)
Australia: Tasmania launches waste tyre reprocessing grant scheme
The Tasmanian government is offering industry partners up to AU$3 million for the development of rubber crumbing plants or alternative and sustainable solutions for the recovery of end-of-life tyres. Australia’s island state is offering this support under its recently launched Waste Tyre Reprocessing Grant Program.
Continue Reading![Michelin’s AirCaptif to double production capacity](https://www.tyrepress.com/wp-content/uploads/2022/11/dassault_aircaptif.jpg)
Michelin’s AirCaptif to double production capacity
Inflatable structure specialist AirCaptif, a Michelin company since late last year, has unveiled a new innovation in partnership with Dassault Aviation. At the same time, Michelin announces that AirCaptif plans to double its production capacity from 2023 and bring new talent into the team.
Continue Reading![Nexen Tire adds Chicago Blackhawks to sports sponsoring programme](https://www.tyrepress.com/wp-content/uploads/2022/11/Nexen-Blackhawks.jpg)
Nexen Tire adds Chicago Blackhawks to sports sponsoring programme
Nexen Tire has entered into a further sporting partnership, this time with US ice hockey team the Chicago Blackhawks. Beginning with the 2022–23 season, the tyre maker will feature on a variety of physical and digital marketing assets, including signage at the Blackhawk’s home rink, Fifth Third Arena.
Continue Reading![Crown Prince launches Saudi electric vehicle brand](https://www.tyrepress.com/wp-content/uploads/2020/10/tlo_biz83a-scaled-e1602237521703.jpg)
Crown Prince launches Saudi electric vehicle brand
Crown Prince Mohammad bin Salman bin Abdulaziz, prime minister and chairman of the Public Investment Fund (PIF), has announced the launch of Ceer, the first Saudi electric vehicle brand that will contribute to Saudi Arabia’s automotive manufacturing sector. The launch comes in line with PIF’s strategy to focus on unlocking the capabilities of promising sectors locally that can help drive the diversification of the economy, to help achieve the objectives of Vision 2030. In addition, the company will contribute to Saudi Arabia’s efforts towards carbon emissions reduction and driving sustainability to address the impact of climate change.
Continue Reading![Studded tyre supply problems push prices up 25% in Estonia](https://www.tyrepress.com/wp-content/uploads/2022/11/ernie-journeys-zuWXRnBZEJU-unsplash-scaled.jpg)
Studded tyre supply problems push prices up 25% in Estonia
The number of studded winter tyres on sale in Estonia has halved this year, resulting in 25 per cent price increases, according to Estonias largest tyre importer Rehvid24.ee.
Continue Reading![Estonia mandates 3PMSF on winter tyres from December](https://www.tyrepress.com/wp-content/uploads/2022/11/dan-otis-fikcvtc8OWc-unsplash-scaled.jpg)
Estonia mandates 3PMSF on winter tyres from December
Effective 1 December 2022, vehicles in Estonia will be required to use winter tyres marked with Three-Peak Mountain Snowflake (3PMSF) symbol, indicating that they are accredited for winter grip performance.
Continue Reading![Farewell Russia? The exit of global players offers long-term growth to domestic firms](https://www.tyrepress.com/wp-content/uploads/2022/11/egor-filin-J5PI9q02Lbk-unsplash-scaled.jpg)
Farewell Russia? The exit of global players offers long-term growth to domestic firms
Global tyre businesses have exited the Russian tyre business as a direct consequence of the Russian government’s decision to invade Ukraine. We all knew this was coming, following initial announcements from the likes of Michelin, Bridgestone and Nokian along those lines in the second quarter of 2022. However, the news that Nokian sold its much-lauded St. Petersburg operation to Tatneft at the end of October indicates that the exodus is underway. And that, in turn, means significant tyre production capacity within Russia has changed hands, something that has an inevitable impact on those departing, those remaining and the wider tyre business. In this column, we take a look at how Michelin, Bridgestone and Nokian have been negotiating their respective exits from Russia and ask what it might mean for the future.
Continue Reading![Volume and price-mix performance current keys to success of premium tyre brands](https://www.tyrepress.com/wp-content/uploads/2022/11/Michelin.png)
Volume and price-mix performance current keys to success of premium tyre brands
Michelin’s third-quarter 2022 sales outperformed consensus expectations by 3.9 per cent. Sharing its third-quarter 2022 financial results, Michelin confirmed its full-year 2022 adjusted pre-tax profit (EBIT) guidance, but it also reduced its free-cash-flow expectations by 0.5 billion euros. But much of the company’s relative success depends on its strong price-mix performance, a factor that is equally important to other premium tyre brands. Here, Tyres & Accessories reads Michelin’s recent third-quarter 2022 financial results in light of the consensus expectations and a recent investor’s note published by Jefferies.
Continue Reading![Bridgestone seeking buyer for its Russia operations](https://www.tyrepress.com/wp-content/uploads/2022/11/BS-Russia-factory.jpg)
Bridgestone seeking buyer for its Russia operations
Following its decision in March to suspend all manufacturing activities in Russia, Bridgestone has officially initiated the process of finding a local buyer for its Russian assets. The process of finding a buyer and closing any subsequent deal is expected to take “several months”.
Continue Reading![Pirelli invests 114 million euros in Silao, Mexico tyre factory](https://www.tyrepress.com/wp-content/uploads/2022/11/Stabilimento-Pirelli_Silao_Messico_2.png)
Pirelli invests 114 million euros in Silao, Mexico tyre factory
Pirelli marked the 10th anniversary of its Silao, Mexico factory with the announcement of 114 million euros of investment, envisaged in the 2021-2022 to 2025 industrial plan. The construction project is aimed at further increasing high-value production at the Mexican site and will take place during a two-year period, according to the company. As a result, the plant will see an increase in production capacity of over 1 million units, making a total of 8.5 million tyres a year by 2025 when fully operational, up from 7.2 million at the end of 2022.
Continue Reading![Greenval Technologies investing 20 million euros in Spain pyrolysis tyre recycling plant](https://www.tyrepress.com/wp-content/uploads/2022/11/Greenval-scaled.jpg)
Greenval Technologies investing 20 million euros in Spain pyrolysis tyre recycling plant
Greenval Technologies has announced plans to invest 20 million euros in the construction of tyre pyrolysis/energy generation plant in Aspe, Spain. The facility is scheduled to start running in 2023 and will generate more than 100 jobs during construction plus 30 ongoing jobs at the facility. Aspe City Council is said to be already studying the proposal in light of the necessary licenses.
Continue Reading![Marangoni Germany exhibits Westlake OTR tyres at Bauma 2022](https://www.tyrepress.com/wp-content/uploads/2022/11/westlake-otr-bauma.jpg)
Marangoni Germany exhibits Westlake OTR tyres at Bauma 2022
Zhongce Rubbers Westlake brand OTR tyres made an appearance at Bauma 2022 in Munich, Germany alongside its sales partner, Marangoni Retreading Systems Deutschland (MRSD). The two companies have also cooperated in Italy; the latest Westlake tyres manufactured by Zhongce Rubber will also appear in the Italian market via Marangoni. Tyrepress sister website Reifenpresse visited the companies exhibition.
Continue Reading![Sailun cancels a wholly-owned subsidiary](https://www.tyrepress.com/wp-content/uploads/2022/11/sailun-tyre-exhibition.jpg)
Sailun cancels a wholly-owned subsidiary
On October 27, Sailun held a board meeting and decided to cancel the wholly-owned subsidiary Sailun Tire International Corp (Sailun International). Sailun International’s registered capital is US$1 million, and its registered address is in the British Virgin Islands. The business scope of this subsidiary includes import and export trade, warehousing and distribution, and project investment. Sailun stated that Sailun International’s cancellation would neither significantly impact the company’s overall business nor harm its and its shareholders’ interests.
Continue Reading![Several Guangrao tyre companies have stopped or limited production](https://www.tyrepress.com/wp-content/uploads/2022/11/xuda-tyres-stacked.jpg)
Several Guangrao tyre companies have stopped or limited production
Guangrao County in Dongying City seems to have gone silent in a short period. On October 20, Guangrao detected an asymptomatic case of Covid-19. Then things seemed to get serious. Data from the Dongying Municipal Health Commission showed that from the 22 to the 30, new asymptomatic patients of Covid-19 were found in Guangrao daily. The government launched a response policy in a short time. According to Guangrao residents, since the 23, some communities have asked people to stay at home, and some factories require closed-loop management.
Continue Reading![Sailun rising: China’s listed tyre companies ranked in 2022 Q3](https://www.tyrepress.com/wp-content/uploads/2022/11/sailun-plant.jpg)
Sailun rising: China’s listed tyre companies ranked in 2022 Q3
Based on stock market reporting for the third quarter of 2022, the top nine Chinese listed tyre companies ranked by revenue are Sailun, Linglong, Triangle, Huayi (the holding company of Double Coin), Guizhou Tyre, Sentury, Aeolus, Jiangsu General, and Doublestar. (The leading Chinese tyre company according to Tyrepress global rankings is ZC Rubber (Hangzhou Zhongce), but it is not listed.) The figures show that Sailun has completed a meteoric rise this year to become the Chinese tyre industry’s stock market leader, with an income of more than 6 billion yuan in the quarter, putting it within reach of the global top 10 tyre manufacturers.
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