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Michelin aims to be a “major metal 3D printing player” with Fives JV

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An agreement signed on 4 September marks Michelin’s initial step towards becoming a well-known name in the metal 3D printing sector. The Michelin Group and the Fives Group are joining forces to create Fives Michelin Additive Solutions, a 50/50 joint venture partnership that aims to become a “major metal 3D printing player.” Fives Michelin Additive Solutions will be located near Michelin’s headquarters in Clermont Ferrand, France and initially employ around 20 people from both partners. At least €25 million will be invested into this new joint venture over the first three years.

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Dandelion rubber to feed ‘aggressive’ expansion of Sumitomo’s global production footprint

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A number of tyre makers have recently shown interest in Taraxicum kok-saghya (TKS), or Russian dandelion, as an alternative source of natural rubber – one manufacturer is even looking to launch tyres containing this raw material within the next five to ten years. Now Sumitomo Rubber Industries has added its name to the list of tyre firms examining the potential of TKS as a replacement for rubber from the Hevea tree; the Japanese manufacturer has commenced joint research with emerging US-based biotech company Kultevat and is working to find practical applications for natural rubber derived from the yellow-flowered plant.

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  1. Goodyear to pay Sumitomo US$271 million to end global joint venture
  2. SRI: USA Technical Center fully operational in January, European facility in September
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July start for Pirelli’s motorcycle tyre JV plant

PT Evoluzione Tyre, the joint venture that factory Astra Otoparts established with Pirelli following the signing of an agreement in April 2012, is scheduled to enter production this month. Astra Otoparts says the factory’s production target for 2015 is 2 million motorcycle tyres and the total planned annual output is 7 million pieces; 4 million of these will be Pirelli or Metzeler branded tyres that will be sold in the domestic and export markets, and the remaining 3 million will be manufactured under Astra Otoparts’ Aspira brand name for sale both in Indonesia and abroad. Pirelli holds a 60 per cent share in the joint venture and Astra Otoparts the remainder.

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Related news:

  1. Bridgestone to produce anti-vibration rubber in Indonesia
  2. IRC Tire: Work begins on JV motorcycle tyre plant
  3. Pirelli completes high-end tyre JV
  4. EfTD names Riccardo Costa as purchasing director, Truck & Motorcycle
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Bridgestone to produce anti-vibration rubber in Indonesia

Astra Otoparts, the Indonesian automotive component company that has partnered with Pirelli to set up a motorcycle tyre factory, has entered into an agreement with Bridgestone Corporation to establish another joint venture manufacturing company. This latest JV is non tyre-related and involves the manufacture of vibration rubber products for motor vehicles. The agreement was concluded in Jakarta on 2 July and was signed by Yasuhiro Suzuki, director of Bridgestone’s Diversified Original Equipment Division, and Hamdhani Dzulkarnaen Salim and Djangkep Budhi Santoso, president director and director of Astra Otoparts.

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  1. July start for Pirelli’s motorcycle tyre JV plant
  2. Groundbreaking takes place for Bridgestone’s factory in Russia
  3. Another change for First Stop in Germany
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Goodyear to pay Sumitomo US$271 million to end global joint venture

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Goodyear's Akron, Ohio headquarters

The Goodyear Tire & Rubber Company is to pay Sumitomo Rubber Industries, Ltd. (SRI) US$271 million to end its global joint venture with the Japanese firm. Goodyear expects to increase annual income as a result of the deal, while SRI will take on expanded use of the Dunlop name around the world. This largely means Russia, Africa and Asia, but not Europe.

The reasoning behind the dissolution? According to SRI, the North American and European joint ventures did not perform as initially expected. Furthermore there was decreasing technology exchange between the two companies – all of which led both parties to “dissolve the alliance in a constructive manner”. This led to the arbitration filing and subsequent dissolution talks in January and February 2014 respectively.

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Related news:

  1. Goodyear ending Sumitomo alliance due to “anti-competitive” behaviour
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Michelin begins natural rubber JV with Barito Pacific

Michelin has invested US$55 million for a 47 per cent share in a joint venture with the Barito Pacific Group (BPG). The two parties will work in Indonesia on the production of natural, eco-friendly rubber in a project that involves the reforestation of three concessions that were previously ravaged by uncontrolled deforestation, a total area of 88,000 hectares.

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  1. Rubberway: Michelin & Continental team up for rubber supply chain JV
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  4. Michelin to purchase additional SIPH shareholding
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Wanli manufacturer, Chinese vehicle maker erecting JV tyre plant

Last month, groundbreaking took place on a new tyre factory intended to produce some 2 million all-steel truck tyres a year and serve as an original equipment supplier for China Anhui Jianghuai Automobile (JAC). The vehicle manufacturer is partnering in a joint venture project together with Guangzhou Fengli Tire & Rubber Co., Ltd. The tyre maker is itself, in turn, a joint venture between South China Tire & Rubber, the company behind the Wanli and Sunny tyre brands, and Guangzhou International Group Co., Ltd., an authorised Chinese state-owned assets operating unit.

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  1. China recycling plant and joint venture: Enviro signs MoUs with Vanlead Group
  2. Bridgestone wins patent infringement lawsuit against Wanli
  3. Former Goodyear Division Forms China Joint Venture
  4. Pirelli Extends China JV Relationship
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Joint venture encourages drivers to lose their car keys

Continental aims to capitalise on the growing interest in car sharing services through its participation in a new joint venture. The tyre and automotive systems manufacturer has teamed up with Belgian automotive service group D’Ieteren and formed the OTA keys joint venture, which will focus on developing virtual car keys that can be controlled by a mobile phone. The joint venture was funded in September 2014, however Continental has only now announced its participation in OTA keys.

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  3. Continental, Osram sign lighting JV contract
  4. Rubberway: Michelin & Continental team up for rubber supply chain JV
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Beijing Auto ready for Apollo Tyres joint venture, say local reports

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Chinese car manufacturer, Beijing Auto Group is “poised” to sign a tyre production joint venture with India’s Apollo Tyres, according to local news sources. Livemint.com cited Beijing Auto chairman Xu Heyi as saying the proposed venture would have an annual production capacity of about one million tyres. The factory will reportedly be built in the […]

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  4. Pirelli completes high-end tyre JV
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Chengshan forms new JV with investment group

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Prinx Chengshan (Shandong) Tire Company Ltd has succeeded Cooper Tire’s joint venture with Chengshan. The previous JV was dissolved when Cooper closed the sale of its 65 per cent share to Chengshan Group Company Ltd on 1 December. Unveiled at Reifen China 2014 in Shanghai, the new joint venture has been formed with Prairie Investment Company.

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Related news:

  1. Cooper: Chengshan worth US$440 million, say valuers
  2. Show review: Reifen China 2014
  3. Chengshan to buy out Cooper for US$286 million
  4. Cooper Tire acquiring majority share in Chinese truck tyre maker
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Analysts: Cooper 3Q results surprise, but shares fall

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Shares of Cooper Tire & Rubber Co. fell 1.9 per cent on 7 November following news that the company’s earnings in the third quarter of 2014 increased to 77 cents from breakeven earnings in the prior-year quarter. The latter figure is significant because it exceeded certain analysts’ estimates. For example the Zacks Consensus Estimate of 72 cents was some five cents below the actual results.

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  1. Cooper: Chengshan worth US$440 million, say valuers
  2. Cooper Tire closes Cooper Chengshan sale
  3. Chengshan to buy out Cooper for US$286 million
  4. Cooper Buys Majority Share of Chinese Manufacturer
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Cooper Tire considering its options in China

Although Cooper Tire & Rubber will retain offtake rights for tyres produced by the Cooper Chengshan (Shandong) Tire Company Ltd (CCT) plant in China after its ownership is fully transferred to Chengshan Group Company Ltd., the tyre maker is nevertheless looking for an alternate supply of tyres in China. Several options are under consideration; company chairman, chief executive officer and president Roy Armes outlined these at Cooper’s third quarter earnings call on 7 November.

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  1. Cooper extends timeframe for Cooper Chengshan talks
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Chengshan given first dibs on Cooper Chengshan tyre plant

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A binding decision on the future ownership of the Chinese joint venture company set up by Cooper Tire & Rubber and Chengshan Group Company Ltd is still to be made, however the two parties are now in talks and have entered into an option agreement for working out the future of Cooper Chengshan (Shandong) Tire Company Ltd (CCT).

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Cooper extends timeframe for Cooper Chengshan talks

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Yesterday Cooper Tire & Rubber Company announced it has extended, for a brief period, the option commencement deadline within the agreement that Cooper, Chengshan Group Company Ltd. and the CCT labor union reached in January of this year, which set forth a process to determine the future ownership of Cooper Chengshan (Shandong) Tire Company Ltd (CCT).

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  1. Cooper Tire considering its options in China
  2. Chengshan given first dibs on Cooper Chengshan tyre plant
  3. Analysts: Cooper 3Q results surprise, but shares fall
  4. Chinese JV exit gives Cooper Tire flexibility to plan for a changing tyre market
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Continental integrating Emitec into Powertrain division

The 100 per cent acquisition of exhaust technologies specialist Emitec by Continental took effect yesterday. Continental has bought out former 50/50 joint venture partner GKN and will integrate Emitec into its Powertrain division. The Emitec operation will be combined with Continental’s Fuel Supply business unit to form the new Fuel & Exhaust Management business unit.

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  4. Conti Completes 100% Acquisition of Matador Rubber
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