TBC Corporation, one of the largest wholesale and franchise marketers of car tyres in North America, has agreed to divest its Midas business to Mavis Tire Express Services Corp. This deal follows TBC’s divestment of NTB Tire and Service and Tire Kingdom to Mavis in 2023.
Yokohama Corporation of North America (YCNA) has announced three organisational changes that take effect immediately, including the promotion and expanded remit of Jeff Barna. In addition to his existing duties as President & CEO Yokohama Tire Corporation (YTC), Barna now also serves as President & CEO of YCNA. His extended role supports Yokohama Canada (YTV) and Yokohama Mexico (YTMX).
Martins Industries has acquired the ABC American Balancing Corp brand, which specializes in tyre balancing beads. According to the company, “this strategic acquisition marks a new step in the diversification and expansion of Martins’ product offering.”
With the installation of a new milling line at its Hawkesbury site in Canada, Ecolomondo Corporation will have the capacity to mill an additional tonne or so (2,200 lbs) of recovered carbon black (rCB) hourly. This milling line replaces a previously installed line which failed to achieve the promised output of 725 kg (1,600 lbs) per hour of rCB and additionally didn’t yield the particle size of 10-15 microns required by many Ecolomondo rCB off-takers.
Cheng Shin Rubber reports that some information systems belonging to its Canadian company, Cheng Shin Rubber Canada Inc., recently suffered a cyber-attack.
Martins Industries tyres and wheels based-equipment maker from Farnham, Quebec, has announced that Walter Capital Partners is now a major shareholder. According to the company, the transaction is intended to support Martins as it implements its “acquisition-based international growth strategy to consolidate its position as a leader in its industry”.
The Goodyear Tire & Rubber Company is investing over 575 million Canadian dollars – CAD (£367 million; 382 million euros; US$419 million) modernizing its Napanee, Ontario, plant “to meet the evolving and diverse needs of the electric vehicle (EV) and all-terrain markets”.
Canadian clean technology company Ecolomondo Corporation is looking to expand and to further develop its Thermal Decomposition Process (TDP) technology, particularly within the tyre recycling sector, after raising funds through a combination of private placement and loan.
Ecolomondo Corporation, a Canadian cleantech company that has developed thermal decomposition technology for recovering raw materials from scrap tyres, has appointed Gary Economo as Chief Executive Officer. Economo succeeds Eliot Sorella, who assumes the role of Executive Chairman while retaining his position as Chairman of the Board of Directors.
WMG at the University of Warwick in Coventry and Canada’s University of Victoria are the joint recipients of the inaugural Synthos Rubber Circularity Award, an international competition launched earlier this year to encourage cutting-edge ideas and solutions that significantly improve the environmental performance of synthetic rubber-based tyre compounds. Announcing the winners, Synthos states that the researchers impressed with their “breakthrough technology research concept” but did not elaborate on their work.
Pre-Q Galgo Corporation celebrated 25 years in the US & Canada at a recent meeting at their corporate office in Dallas, Texas. Galgo began producing rubber products in August 1952 in Mexico City, Mexico.
Pirelli announced a voluntary recall in coordination with the Consumer Product Safety Commission (CPSC) on 7 September. 14,500 tyres covered by the recall have been sold in the USA, plus another 550 sold in Canada. Therefore, a total of 15,550 tyres are affected.
Canada’s largest locally owned tyre distributor has acquired the country’s largest manufacturer and distributor of alloy and steel wheels and accessories. With its purchase of Fastco Canada, Groupe Touchette Inc., views itself as positioned to “significantly expand” its service offering and is confident the transaction will provide Fastco Canada with “greater access to new markets.” The tyre wholesaler also speaks of “strong synergies in product offering.”
Iori Suzuki will retire as chairman, president and chief executive officer of Toyo Tire Holdings of Americas Inc. (TTHA) on 31 July 2023, and two will fill the roles he vacates the following day. Tatsuo Mitsuhata is to become chairman and chief executive officer of TTHA, and Nobuo Yoshida has been named the business’s president and chief operating officer.
Wholesaler American Tire Distributors, Inc. (ATD) has published its third annual sustainability report. Titled Catalysts for Change, the report describes ATD’s achievements and progress in 2022 against the goals outlined in the inaugural 2020 report.
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