After more than seven decades in operation, the Yokohama Rubber Co. Ltd. (YRC) plant in Hadera, Israel will stop producing tyres by the end of this year. The tyre maker announced today that it will cease operations at the former Alliance Tire Group (ATG) facility as it is becoming increasingly uncompetitive against plants in the Asia region.
Yokohama Off-Highway Tires notes that an erroneous report of a fire at its plant in Hadera, Israel has “caused confusion in the tyre industry.” Company officials confirmed today that there was no fire at the facility.
Israel’s Galileo Wheel Ltd., the firm behind the CupWheel tyre, and Japanese trading firm Marubeni Corporation have entered into a strategic partnership. As part of this partnership, Galileo reports that Marubeni has become a “significant stakeholder.” Marubeni will utilise its global sales and marketing network and become the distributor of CupWheel tyres in multiple geographic markets.
The Goodyear Tire & Rubber Company announces that it is “teaming up” with Israel-based mobility incubator Drive TLV, with Drive facilitating collaboration opportunities between its network of start-ups and Goodyear. Drive will also connect the Goodyear Ventures capital fund with potential investment opportunities in this start-up network.
Tal Dekel has been appointed as chief executive officer of Pelmar Engineering Ltd. Dekel has been with the Pelmar Group for 20 years and is the son of the previous group technical director Dan Dekel, who served the company for over 30 years.
With the latest SMMT data naming the Tesla Model 3 as the most popular new-car in December as well as the second most popular in 2021 – no-one can deny that the era of electric vehicles is well and truly upon. However, while internal combustion engines (ICE) have generally separated engine, wheel and tyre, electric vehicles are bringing these vital mobility components closer together than ever.
When we met Avishay Novoplanski at a major agricultural fair prior to the first lockdown, he was holding a paper takeaway coffee cup and reflecting upon the utility of air. But he hadn’t just taken a caffeine hit, nor were his musings on the invisible, gaseous substance that surrounds us out of place. For Novoplanski is the inventor of the Galileo CupWheel, and this explains his interest in both.
Continental has acquired a minority stake in Israel-based start-up Feelit Technologies Ltd. The investment took place as part of a round of Series A Funding valued at US$7 million, however, the exact amount of Continental’s holding hasn’t been disclosed. Continental anticipates that this new relationship with Feelit will benefit several business areas.
Yokohama has denied press reports that it is aiming to buy a majority of Alliance Tire Group (ATG). Acquisition talk had suggested private equity firm Kohlberg Kravis Roberts (KKR) was in talks to sell what would amount to a majority shareholding of its stake in ATG (which is currently 90 per cent) to Yokohama.
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