UK-based tyre test specialists Tread Ltd has taken delivery of a new Golf 8 test vehicle. Up till now Tread’s company-owned tyre test fleet has included models such as the: Audi 736 SUV Q7; Audi B9 UUHP S5; VW MQB V7 Golf GTI UHP; and a VW T6 LTR.
Cooper Tire has invested in increasing production capacity at its Kruševac, Serbia tyre manufacturing plant. – Cooper Tire Serbia, a subsidiary of Cooper Tire & Rubber Company, is managing the US$55 million equipment upgrade and facility upgrade project. As a result of the investment, Cooper’s Kruševac facility will expand to more than 882,000 square feet, adding 118 new jobs.
A cross-party group of MPs with bus manufacturing sites within their constituencies have written to the Prime Minister to demand the £3 billion he committed in February to fund investment in “at least 4,000 new zero emissions buses” is brought forward as soon as possible.
Puncture proof tyres are said to be increasing demand – despite criticism from recycling associations of such products. In line with this trend, according to media reports Hankook is significantly expanding its self-sealing production capacity in China.
Apollo Tyres is aiming for leadership in the premium two-wheeler segment in India with the inauguration of a dedicated two-wheel cross-ply and tyre manufacturing operation. India is the largest two-wheeler market in the world, and still has a headroom for further growth. In light of the Covid-19 pandemic, demand has increased as people move away from shared/public transport and gradually moving to own a personal vehicle. However, while India is at the forefront for Apollo’s venture into the two-wheel segment, the company is also hinting that it plans to export two-wheel tyres to Europe and North America.
Pyramids Tires, a new tyre manufacturer based in Port Said, northeast Egypt, saw its first tyres roll off the production line on 9 May 2020. The factory currently manufactures motorcycle, forklift and agricultural tyres as part of the first phase of the plant’s development. The second phase, which is scheduled to be completed by the end of 2022, will see the company add passenger car, truck and OTR tyres to its portfolio.
Kenda Rubber Industrial has been producing bicycle and motorcycle tyres at its Indonesia plant since 2015. According to local media reports, the Taiwanese manufacturer now wants to move production capacity from China to Indonesia.
Britishvolt has shortlisted Bro Tathan in South Wales and one other site for the UK’s first 30 plus GWh Gigafactory. Britishvolt eliminated 40 other proposals in the process. When the project is finalised, the company says the initial wave of £1.2 billion of investment into the site will eventually lead to around 3,500 jobs.
Italian retreading and recycling operation Corgom has initiated a multi-year investment plan that is set to upgrade its entire tyre reconstruction process.
Following a budget that committed to the largest portfolio of inward investment in 30 years, on 14 May 2020 the UK Transport Secretary promised £1.7 billion for local road repairs and fast-tracked construction works worth £175 million while fewer passengers are using transport system. Hundreds-of-millions-of-pounds worth of upgrades have already been made to the nation’s road and rail networks during the lockdown period with more planned over the coming weeks and months. For the tyre industry, the new could also support flagging demand for OTR and off-road tyres used in such construction projects.
Recycling firm Scandinavian Enviro Systems AB (Enviro) has completed a share issue worth 116 million Swedish Krone to Michelin. The issue is part of the letter of intent announced on 15 April 2020 and signals a “long-term strategic partnership between the two companies”.
The Competition Commission of India (CCI) has approved Warburg Pincus’ indirect acquisition of a 9.93 per cent stake in Apollo Tyres Limited. The purchase of 108,000,000 compulsorily convertible preference shares in the tyre maker, each share worth Rs 100, is being carried out by Emerald Sage Investment Limited. This transaction is worth approximately Rs 10.8 billion (£114 million).
On 1 April 2020 Camfin SpA, a key shareholder in Pirelli which shares the Italian tyre manufacturer’s close connections with Marco Tronchetti Provera, announced that Camfin and Longmarch Sàrl had signed “a preliminary and non-binding Memorandum of Understanding [MoU] to evaluate a possible strategic partnership, aimed at developing activities in private equity, including the healthcare sector. However, while Camfin is an investment company and Longmarch is a separate Luxembourg-based vehicle, the two firms are related to Pirelli and the Chinese Hixih Rubber Group respectively. And therefore, the latest news could also indicate that Pirelli and Hixih are moving closer together.
Goodyear’s decision to exit UK retreading in 2015, followed by Continental’s 2016 takeover of Bandvulc and Vaculug’s 2018 acquisition by Zenises Group changed the face of the UK retreading business in just three years. However, while the market has both contracted and consolidated in recent years, a core group of key retreading production bases remain. And while the largest retreading businesses often gain the spotlight, it is worth mentioning fast-growing operations as well. Sussex-based Seryt Tyres is one such company, so Tyres & Accessories got in touch with director Kevin Gillin and marketing manager Olly Townsend in order to find out more.
In what has, for obvious reasons, been dubbed a Covid-19 budget, new UK Chancellor the Exchequer (the Right Honorable Rishi Sunak MP) promised the highest levels of inward investment for 30 years including a number of initiatives that will help small and medium-sized business such as tyre retailers and garages.
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Tread Ltd
Cooper Tire
Wrightbus
Hankook
Apollo
Pyramid Tires
Northvolt
Corgom; TRM
Deva Darshan; Pexels
Chris McAndrew