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.
Following the news that the Canadian Federal Government and Volkswagen have agreed to invest more than $14.8bn for the construction of a battery gigafactory in Ontario, Lucy Tripathi, automotive senior analyst at GlobalData, ocomments: “Volkswagen is the second largest automaker in the world and the battery cell business is one of its new auto strategies, which will help the company in becoming a leader in low-carbon or zero-carbon emission mobility. The goal of Volkswagen is to have 80 per cent of its vehicles to be electric by 2030.
Michelin is recalling more than half a million all-season light truck tyres in the USA and Canada as they carry the 3PMSF symbol on the sidewall but do not comply with related local legislation. The voluntary recall affects up to 542,110 aftermarket Michelin Agilis CrossClimate C-Metric tyres produced in France and Poland.
Rob Williams is heading Hankook Tire’s business in North America as the new President of Hankook Tire America Corp. His colleague Jong Jin (JJ) Park has been promoted to the role of Vice-President of USA PC/LT Sales, while Intae (Ted) Choi has become Vice President of North American Marketing Strategy, and Byoungjoe (Joe) Park has been named Vice President of Corporate Management.
This month, Hercules Tire and Rubber Company celebrates its 70th anniversary. Established as a cooperative by independent tyre dealers and retreaders seeking quality products at an affordable price, the company has grown into a value segment leader that today offers a comprehensive selection of tyres under its Hercules, Ironman and Dynatrac brands.
On 7 September, American Tire Distributors (ATD) announced the completion of its Canadian subsidiary’s sale to Groupe Touchette, Canada’s largest locally-owned tyre distributor. By divesting the National Tire Distributors (NTD) business, the wholesaler says it is now “better positioned to serve its customers across the US” and to “invest in the enhanced innovation that is driving its transformation efforts.”
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