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Hankook Tire has been assigned Baa2 and BBB ratings from the international credit rating agencies, Moody’s and Standard & Poor’s (S&P). This is the first time that the tyre maker has been rated by Moody’s and by S&P, and it comments that this multi-national company level rating “reflects Hankook Tire’s strong position as a global premium tyre brand.”
Hankook Tire has been assigned Baa2 and BBB ratings from the international credit rating agencies, Moody’s and Standard & Poor’s (S&P). This is the first time that the tyre maker has been rated by Moody’s and by S&P, and it comments that this multi-national company level rating “reflects Hankook Tire’s strong position as a global premium tyre brand.”
RTN Clayton Vallely, manufacturer of specialist tankers for the environmental, food and chemical industries, has taken delivery of its 500th Xlite forged aluminium wheel from exclusive European distributor, MWheels.
The Barnsley-based company, whose clients include Yorkshire Water, McVitie’s and Redway European, has specified the market leading forged aluminium wheels on orders since March 2014, primarily as fitted units with tyres from Bridgestone, Goodyear and Dunlop.
During the last year or so everyone selling truck tyres had to face the reality that raw material costs had been increasing. The specific impact that this reality had and is having on the truck fleet business varies from company to company because it depends on terms, conditions and when contract deadlines fall. However, in general there are indications that the market is moving away from short term purchase price-only thinking as long-term value becomes a more critical criteria. Tyres & Accessories spoke with Marc Preedy, commercial director Goodyear UK and Ireland, in order to find out more.
A collaboration between Continental’s Tire division and Kordsa, the Sabanci Group’s textile reinforcing materials business, is expected to result in a new, sustainable system of bonding textile reinforcing materials to rubber-based compounds. Specifically, the two companies are working on a technology that replaces resorcinol and formaldehyde with more environmentally friendly chemicals. Continental reports that to-date the joint work has delivered “very promising” results, adding that the technology will be available to others under a free licensing concept.
Acknowledging tyre growth in all-season tyres in the UK, Pirelli continues to recommend the use of winter tyres for its target performance car market, especially in extreme conditions. The manufacturer states that this position is reflected in its winter range, which includes both specialist and all-rounder products for the relevant segments.
An addition to the Metzeler portfolio last year, the Racetec RR Slick is available in soft K1 and medium hard K2 compounds. The grip, handling and ride precision offered by the K2 version, as well as its durability, has now been improved thanks to an entirely new tread compound that Metzeler has developed for this tyre. Ever since the second half of last year, the brand’s own test riders, as well as professional racers and ambitious amateurs, have been active on European race tracks in order to ascertain the best possible compound option.
The Achilles Radial tyre brand is one of 28 brands in Indonesia that recently agreed to promote the ‘Wonderful Indonesia’ tourism initiative. On 8 August, tyre maker PT Multistrada Arah Sarana Tbk and the companies behind the other brands signed a Memorandum of Understanding with the Republic of Indonesia’s Ministry of Tourism.
Market research company TechSci Research has undertaken an in-depth study into developments within the off-the-road, or OTR tyre market. Numerous reports published by the company analyse what we can expect both globally and in various regions in the coming years.
Yokohama Rubber delivered its shareholders good news today upon reporting a 38.7 per cent year-on-year increase in profit attributable to owners of parent in the first half of 2017, with profit amounting to 11.4 billion yen (£79.8 million). Operating income during the six months to 30 June rose 16.8 per cent to 18.4 billion yen (£128.8 million), while net sales increased 15.9 per cent to 310.8 billion yen (£2.2 billion).
Days after India’s Directorate General of Anti-Dumping published its final findings into truck and bus tyres imported from China and recommended the introduction of anti-dumping duties for certain products, the chairman and managing director of the country’s largest domestic producer of truck and bus radials supported the measure with comments of his own. During his speech at JK Tyre & Industries Ltd’s annual general meeting on 4 August, Dr Raghupati Singhania declared it is “high time” India’s government undertook such a step.
Days after India’s Directorate General of Anti-Dumping published its final findings into truck and bus tyres imported from China and recommended the introduction of anti-dumping duties for certain products, the chairman and managing director of the country’s largest domestic producer of truck and bus radials supported the measure with comments of his own. During his speech at JK Tyre & Industries Ltd’s annual general meeting on 4 August, Dr Raghupati Singhania declared it is “high time” India’s government undertook such a step.
Continental Tyres has announced that it is sponsoring the NTDA Annual Dinner on Thursday 12 October 2017 at the Double Tree by Hilton, Milton Keynes.
Hosted for the 88th time, the NTDA Annual Dinner is seen as the leading social event in the tyre industry, during which the association will be recognising the achievements of some of the UK tyre industry’s key stakeholders.
As Kumho Tyre UK comments, winning international design awards has “become something of a habit” for the South Korean tyre manufacturer. For the second consecutive year, it is guaranteed a prize in the automotive and transport category of America’s International Design Excellence Awards (IDEA).
While unit volumes and net sales at Cooper Tire & Rubber remained little unchanged compared with the second quarter of last year, rising raw material costs ensured that income was significantly down in the three months to 30 June 2017. And although raw material costs are rescinding from the peaks seen earlier in the year, the tyre maker is keeping an eye out for further fluctuations.
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