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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.
German pyrolysis technology company Pyrum Innovations AG has signed a letter of intent with Norway’s Polyfuels Group AB to jointly build and operate up to four pyrolysis plants for the processing of end-of-life tyres (ELT). The joint venture plants will be based on Pyrum technology and will be realised by Circular Tires AS, a wholly owned subsidiary of Polyfuels. The partners intend to build pyrolysis plants for recycling waste tyres in Norway, Sweden, Finland and Estonia by 2030.
GRI shares that tyres within its portfolio which are used on public roads now incorporate the DOT code on the sidewall, signifying their compliance with applicable Federal Motor Vehicle safety standards (FMVSS) in the USA. This DOT code’s addition follows accreditation of the tyre maker’s plants in Sri Lanka by the National Highway Traffic Safety Administration (NHTSA), an agency of the US Department of Transportation (DOT).
Solvay is investing at its Livorno site in Italy to launch the company’s first circular highly dispersible silica (HDS), a product derived from rice husk ash. Production should begin by the end of 2024 and circular HDS will gradually replace the existing Zeosil portfolio. Tyre maker Continental is a key partner in Solvay’s journey to bring HDS to market.
A positive first half of 2022 gave way to an increasingly bleak picture for replacement tyre sales according to overall figures published today by European Tyre and Rubber Manufacturers’ Association (ETRMA) members. Overall this meant replacement consumer tyre sales were 2 per cent down on 2021. Commercial replacement tyre sales remained largely flat, except for the agricultural tyre market, which was down more than a fifth (-22 per cent), having been in contraction all year. Quarter four saw double-digit percentage falls versus the fourth quarter of 2021 as the effects of war in Ukraine, including spiralling energy prices and a continental cost of living crisis, bit. The European replacement tyre segment’s first half of the year had been relatively buoyant, with double-digit growth in replacement truck and bus tyres the highlight.
The Department for Transport (DfT) has launched a public consultation on the future of MOTs in Great Britain, which closes at 11:59pm on 28 February 2023. According to the DfT, “Views are being sought to update MOT testing for cars, motorbikes and vans to ensure roadworthiness checks continue to balance costs on motorists while ensuring road safety, keeping up with advances in vehicle technology, and tackling vehicle emissions.” But the short story is that they are once again proposing to “change the date at which the first MOT for new light vehicles is required from 3 to 4 years” under the guise of saving “motorists across Great Britain around £100 million a year in MOT fees” based on a £40 MOT.
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.”
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.
Although his name is first and foremost associated with Volkswagen, Continental also credits Prof. Dr Carl Horst Hahn, who died last weekend at the age of 96, as being one of the “formative personalities” behind the automotive supplier and tyre maker’s “success story.”
Since launching in 2002, the Diablo name has represented Pirelli in the sports motorcycle tyre market, taking on the baton from luminaries such as the Mandrake, Phantom, Demon, Dragon and the wonderfully-named Gordon. Pirelli considers Diablo a tyre family that has “revolutionised global street tyre paradigms” over the years, creating a “proper brand” that has been “enriched year after year by technological innovations and the experience gained in the FIM World Superbike Championship,” where Pirelli has been sole tyre supplier since 2004.
Mercedes-Benz has awarded Goodyear its ‘Preferred Partner of Tires’ status in Austria for a second consecutive time. The vehicle manufacturer performs a comprehensive evaluation of its partners every two years, and after granting Goodyear this distinction in 2021/22, it has confirmed its preferred status for 2023/24.
On 11 January 2023, Guizhou Tyre (also known as Advance Tyre) stated that it has terminated one of its recent tyre manufacturing projects before it got to the construction stage. Guizhou Tyre said its “3 million sets of high-performance all-steel radial tyres” a year construction project was closed down effective 31 December 2022.
There has been talk about closing the recruitment gap in the automotive aftermarket for years. More recently certain training bodies and associations such as the NTDA have taking significant steps to renew efforts to recruit and upskill the tyre and aftermarket workforce. Now, however, is clear evidence that these much-discussed issues are not just theoretical. Rather, the lack of skill people in the trade is affecting the ability to service already depleted demand, which is hitting profitability even amongst some of the largest, fastest-growing and most profitable tyre-selling businesses.
Reflecting on the year that was 2022, GRI’s Dr Mahesha Ranasoma comments that the company “made significant strides in building its GreenLeadership credentials” during the year. The chief executive officer adds that the off-highway tyre specialist “weathered the storms and the impact of the global economic downturn” during 2022, continuing to “remain resilient throughout the year.”
With the relaxation of epidemic prevention and control policies, China has experienced a large-scale infection wave since early December. Many tyre factories have experienced or are experiencing worker shortages. The Lunar New Year in China is likely to see hundreds of millions of people to move around the country, leading to a more rapid spread of Covid-19. It is difficult to predict when China will shake off the epidemic’s impact; for the Chinese tyre industry, the current wave of infections is both a challenge and an opportunity.
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