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CBp Carbon Pyrolysis Rights Redistributed in Share Transfer

Following the closure of a share swap agreement between Slovak Republic based CBp Carbon Industries, Inc and US company Carbon Green Inc. (formerly known as Neema Inc.), both companies will effectively hold an ownership stake in CBp Carbon subsidiary Greenwood Commerce Ltd, who now holds the worldwide exclusive ownership rights to a proprietary technology that allegedly enables the by-products of tyre pyrolysis to be converted into recovered steel, a diesel equivalent oil that can be employed to generate green electricity in many countries, a nano-particle compound said to be a tyre industry-tested and accepted competitive substitute for commercial carbon black, and a clean-burning gas Greenwood will use to power its processing plants.

10th December 2009/by Tyrepress Editors

Pirelli Adds Signature to Copenhagen Communiqué

Pirelli Tyres and Parts reports its adherence to the Copenhagen Communiqué on Climate Change, an initiative promoted by the University of Cambridge supported organisation the Prince of Wales’s Corporate Leaders’ Group on Climate Change. This communiqué, issued by the business leaders of over 500 global companies, calls for “an ambitious, robust and equitable global deal on climate change that responds credibly to the scale and urgency of the crises facing the world today” and urges the world leaders meeting at December’s United Nations Climate Change Conference in Copenhagen to tackle environmental issues with the same level of resolve and coordination as witnessed in the London Summit’s response to the global downturn.

4th December 2009/by Tyrepress Editors

Goodyear India to Sign Reimbursement Agreement

On November 30 Goodyear India announced it would enter into an agreement to reimburse expenses incurred by parent company Goodyear Tire and Rubber Company for services received. This agreement will come into effect on January 1, 2010. The company has also reappointed Daniel Richard Ackerman as an alternate director to Pierre E. Cohade.

30th November 2009/by Tyrepress Editors

Kumho “Out for Blood”

Some say their employers want blood from them, and those at Kumho in South Korea may have grounds to make such a claim. But don’t worry – it’s all for a good cause. Due to the recent H1N1 influenza scare the country has experienced a dramatic drop in blood donations, and this has led to a noticeable shortage of the precious fluid needed for transfusions. According to Kumho, upon hearing this news, all Kumho Asiana Group executives and employees stepped forward to donate blood.

20th November 2009/by Tyrepress Editors

GPX International to Sell Solid Tyre Business

GPX International Tire Corporation CEO Craig Steinke has announced the company’s entry into a “definitive sale agreement for its Solid Tire business and Starbright manufacturing facility in China”. Steinke states “an investor group will partner with members of the management team to purchase the operations and underlying assets of the Solid Tire business.” The transaction will include the MITL, ITL and Brawler brands, as well as the Gorham, Maine; Red Lion, Pennsylvania; and Hebei, China manufacturing facilities.

13th November 2009/by Tyrepress Editors

Bridgestone Australia Workers Agree to Revised Redundancy Package

According to local media, a redundancy agreement for the 600 Bridgestone Australia employees at the soon to close Salisbury facility will be signed within a week. The News Review Messenger newspaper reports that workers “voted overwhelmingly” in support of Bridgestone’s improved offer on November 10. Only two of the 400 union workers that voted on the offer opposed the Bridgestone package.

11th November 2009/by Tyrepress Editors

Bankruptcy Court Confirms Hayes Lemmerz Reorganisation Plan

On November 3 Hayes Lemmerz International announced that the United States Bankruptcy Court for the District of Delaware has confirmed the proposed plan of reorganisation filed by the wheel manufacturer in July. Now that the go-ahead has been given, Hayes Lemmerz expresses confidence that the plan will significantly improve its balance sheet and reduce leverage. The company's total consolidated pre-petition funded debt of approximately US$720 million is now expected to shrink to approximately $240 million upon emergence from Chapter 11 bankruptcy.

4th November 2009/by Tyrepress Editors

Bridgestone NZ Running at a Loss Since 2007

Although the announced closure of Bridgestone’s sole manufacturing facility in New Zealand has been understandably met with disappointment by the local industry, records show the tyre major has operated in the red there during the last two years. Information held by the New Zealand government’s Companies Office shows Bridgestone to have experienced a loss of NZ$7.1 million (£3.28 million) on annual revenues of $217 million (£100 million) in the 2008 calendar year. In 2007 the company’s loss amounted to $3.8 million. Indeed, Bridgestone’s bottom line has not seen plus figures in New Zealand since 2006, when its net plus came to $1.2 million.

27th October 2009/by Tyrepress Editors

ITDN – Helping Independents Remain Independent

The ITDN has been providing a tyre breakdown service to independent tyre dealers for 24 years, and in the past 12 months the network has gone through tremendous change to update and enhance systems. The company has recently developed a state of the art in-house breakdown logging system and its ‘ITDN Interactive’ web-based member programme. ITDN has recognised the increased need for up-to-date information flow to its members and fleet customers and will continue to offer extra benefits and ongoing development. Furthermore, the Devon based company now has an internal IT development team. Despite these many changes, the company reports that its chief concern remains, as always, to provide support for its membership to help their independent tyre dealers grow.

26th October 2009/by Tyrepress Editors

Bandvulc to Keep Yuill & Dodds Fleet on the Move

Scottish haulage specialist Yuill & Dodds Ltd has appointed Bandvulc Tyre Contracts to manage its hundred-plus strong fleet of vehicles. Bandvulc will provide support for a diverse vehicle range including long distance articulated units and off-road eight wheel vehicles, and the operation will be supported by Bandvulc Tyre Contract’s 24/7/365 Tyre Support Unit, which offers a network of over 500 service providers. Coverage and response times across the UK will be optimised by Bandvulc Tyre Contracts’ independence and ability to select from a number of service provider options, the company comments. The agreement also sees Bandvulc’s drive and trailer axle tyres fitted as policy fitments across the fleet.

19th October 2009/by Tyrepress Editors

Accuride Restructures Debt, Files for Bankruptcy

The media team at Accuride Corporation have given details of a “debt restructuring agreement.” As part of this agreement the company is filing a voluntary petition for bankruptcy under Chapter 11 of the US Bankruptcy Code and has secured a US$50 million “debtor-in-possession” credit facility to enable normal business to continue.

13th October 2009/by Tyrepress Editors

Goodyear Enters World of Outlaws for Series Tyre Supply Deal

Goodyear will supply the tyres for the World Racing Group’s World of Outlaws Sprint Car Series in an agreement that will last more than one season, according to a press statement released by the Group. The agreement will begin at the 2010 Florida DIRTcar Nationals next February, with World of Outlaws competitors required – somewhat ironically by the Series’ rules – to fit Goodyear rubber to their rear wheels.

6th October 2009/by Tyrepress Editors

Continental Ends Talks With MAG Over Clairoix Plant

Talks between Continental AG and MAG, a Dubai-based potential buyer of the company’s tyre technology and passenger/light truck tyre manufacturing facility in Clairoix, France, have ended. According to Continental, the talks “mutually ceased” with no agreement reached. The parties held intensive discussions, but finally concluded that it was not possible to reach common ground on pursuing further negotiations.

“We would have liked to have become involved in the tyre manufacturing business as an extension to our value-chain activities which are strongly focused on the trade sector. Using the knowledge we have at present we shall continue to examine this approach. We specifically thank the French government for its commitment and support while we were deliberating on the matter, and we shall keep France in our minds as a key location for future business plans”, said Dr Fawaz Sabri vice chairman of MAG

Dr Bernhard Trilken, responsible for Continental`s global passenger and light truck tyre production, added: “It was not possible to enter into concrete negotiations on the basis of jointly defined framework conditions. The two parties reached the same conclusion and, at that point, agreed to terminate the sales talks.”

6th October 2009/by Tyrepress Editors

USW OKs Four-Year Deal With Bridgestone

(Tire Review) The last of the major tyre-makers has a new contract with the United Steelworkers.Union workers at Bridgestone Americas’ tyre plants ratified a new four-year master contract with the tyre-maker Saturday, brining the 2009 master contract negotiations to a quiet end.

5th October 2009/by Tyrepress Editors

Expansion Groundbreaking Ceremony Held at Cooper’s Tupelo Plant

Cooper Tire & Rubber has embarked on a number of measures to boost its competitive edge in the North American market. As part of this the company intends to expand its Tupelo, Mississippi facility, and the groundbreaking ceremony for this project took place on September 22. According to Cooper, the US$7 million expansion work will increase the size of the 1.6 million square foot facility by an additional 32,000 square feet and include the installation of mixing equipment.

23rd September 2009/by Tyrepress Editors