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Despite its turnover increasing 4.6 per cent to more than 62 million euros in 2022 – a new record for the company – tyre recycler Genan reports that decreasing steel prices and significantly higher energy and freight costs more than halved its year-on-year earnings to less than 1.5 million euros. In response, the company is now speeding up its ongoing work to invest in renewable energy sources.
Pneumatics specialist PCL has extended its tyre inflation portfolio with the introduction of the UK’s first air tower for bicycle tyres. The Digital Bicycle Tyre Inflator is designed for public use and available across Europe and worldwide, including the Far East.
Despite a first-quarter 2023 net loss of $101 million, down $197 million compared with $96 million of positive income 12 months ago, Goodyear executives tried to shine a positive light on the US-based tyremaker’s latest financial results. Volumes may have been 3.2 million units lower than the same period last year at 41.8 million units, but net sales grew 1 per cent compared with the first quarter of 2022 and 4 per cent excluding foreign currency effects. And Goodyear EMEA is back to breakeven, but that wasn’t enough to avoid talk of accelerated cost-cutting measures.
Following the success of the Tyre Technician Professional Development Scheme (TTPDS), which has seen more than 12,000 tyre technicians trained, assessed as competent and issued with a licence since 2014, the NTDA has launched a new licence specifically for mobile tyre technicians working on car and light vehicle tyres.
Although track enthusiasts in the UK and Europe have been acquainted with the Bridgestone Potenza Race since last year, their brethren across the Pond have been denied the opportunity – until now. Bridgestone Americas has added the road legal semi-slick tyres to its Bridgestone Potenza line-up.
Starting this month, Goodyear is rolling out the next generation of its UltraGrip winter tyre range, the UltraGrip Performance 3. The tyre enters the market as successor to both the UltraGrip 9+ and UltraGrip Performance+ and by September 2023 will be available in 94 sizes for 14- to 21-inch rims.
In addition to recycling end-of-life tyres, Pyrum Innovations is utilising its technology for the recycling of carbon fibre-reinforced plastics (CFRP). After almost four years of development, the firm has commissioned an automated, semi-industrial CFRP recycling plant. The company points out that this is the ”first time CFRP has been holistically recycled worldwide.”
Saliun Group Europe has introduced several new tyres featuring its EcoPoint3 liquid-phase mixing technology. One of these products is the Sailun Atrezzo 4Seasons Pro, and the manufacturer says that thanks to EcoPoint 3 this tyre “sets new standards.”
In 2022, Sailun’s revenue was 21.9 billion yuan (approximately £2.55 billion; €2.89 billion), a year-on-year increase of 21.69 per cent. Sailun became the first listed Chinese tyre company with revenue exceeding 20 billion yuan. At the same time, the company’s revenue in 2022 surpassed Linglong, becoming the number one listed tyre company in China. During the reporting period, Sailun produced 43.2078 million tyres, sold 43.903 million tyres, and realized a net profit of 1.33 billion yuan (about £150 million; €180 million).
Following the news that the EU introduced new definitive duties against Chinese-produced truck tyres, and the suggestion that a UK investigation is imminent, the UK Trade Remedies Authority (TRA) has initiated “two transition reviews into anti-dumping and countervailing measures on lorry and bus tyres imported from China”.
When Continental first discussed setting up a plant in Russia back in 2011, it spoke of an investment of around 220 million euros. According to sources within Russia, the German company may only recover a fraction of this amount when divesting its local operation to S8 Capital. Moscow-based newspaper Kommersant states that the transaction is valued at 7 to 10 billion roubles, or just 80 million to 114 million euros, a figure in line with the “impaired assets of around 87 million euros” that Continental reported in connection with its business activity in Russia on 8 March 2023.
As of today (2 May 2023) The Yokohama Rubber Co. Ltd. has completed the acquisition of Trelleborg Wheel Systems Holding AB (TWS), the Swedish off-highway tyre (OHT) manufacturer, news of which we broke on 14 December 2021 and was confirmed three months later on 25 March 2022. Following the successful completion of regulatory requirements, the combined business will now be known as Yokohama TWS and Yokohama Rubber’s consolidated accounts will include TWS business from the second quarter of the 2023 financial year.
At its meeting yesterday, the Continental AG Supervisory Board extended the appointment of Nikolai Setzer, the company’s chief executive officer and Executive Board chairman. It also appointed Philipp von Hirschheydt as a new Executive Board member for the Continental Automotive group sector, effective 1 May 2023.
Mitas is extending Touring Force tyre range with 15” sizes which can be used on modern maxi scooters as well as innovative and powerful three-wheelers. Two new sizes, 120/70R15 56V front and 160/60R15 67V rear, will be available on the market from May 2023.
One of Wolverhampton’s oldest garages has joined the First Stop network, gaining new signage, equipment and access to a range of premium tyres along the way. First Stop Wolverhampton in Chapel was formerly part of HiQ.
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