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‘Ultra Mega Project’ – MRF investing Rs 45 billion to expand facilities

International News

India’s MRF Ltd has informed the Bombay Stock Exchange that it will invest Rs 45 billion (£483.5 million) in its Perambalur and Arakonam plants in Tamil Nadu state over a seven year period as part of an expansion plan. The tyre maker will gain some level of support from the government of Tamil Nadu and says it will sign a Memorandum of Understanding with the government there in the near future. The government of Tamil Nadu has accorded the MRF expansion project ‘Ultra Mega Project Status’ under Tamil Nadu Industrial Policy 2014, a policy that aims to strengthen the state as a centre of manufacturing and increase exports from the region.

24th March 2015/by Tyrepress Editors

Michelin donates to €300,000 French agronomy programme

Under an agreement signed at the SIMA International Agri Business Show in Paris yesterday, Michelin will donate €300,000 to the La Salle Beauvais Polytechnic Institute to support its creation of a farming machinery and new agricultural technology programme. The funds will be donated over a three-year period through the Michelin Corporate Foundation. Jean-Dominque Senard, who in addition to his functions as Michelin chief executive officer and managing general partner is president of the Michelin Corporate Foundation, signed the Memorandum of Understanding together with Claude Gewerc, president of the Picardy Regional Council, Philippe Choquet, general director of the LaSalle Polytechnic Institute, and Richard Markwell, president of AGCO Massey Ferguson.

26th February 2015/by Tyrepress Editors

Pirelli signs MoU for truck tyre factory expansion in Egypt

Company News, International News

Plans to enlarge Pirelli’s truck tyre radial facility in Egypt are one step closer to realisation following the signing of a Memorandum of Understanding between Pirelli Tyre S.p.A and Egypt’s Ministry of Investment. The freshly-autographed MoU explores the possible expansion of the Alexandria Tire Co. (Atco) plant, an operation that Pirelli holds more than 90 per cent control in. On the basis of the MoU, it is foreseen that Atco would invest around US$107 million to expand and technologically upgrade the plant. The investment is expected to take place over a 36 month period once the conditions (which have not been made public) for the launch of the expansion activities have been met. When completed, the expansion project will create up to 250 new direct jobs at Atco and increase truck tyre radial production by around 300,000 units per annum.

25th November 2014/1 Comment/by Tyrepress Editors

First Pirelli-Rosneft tyre centre opens in Moscow

Company News, International News

Rosneft, Pirelli and the Koleso retail chain have opened the first of many Pirelli tyre centres that are planned for Rosneft service stations in Russia’s capital, Moscow. The Pirelli centre at Mira Avenue 94 has been established under the terms of the Memorandum of Understanding signed between Rosneft head Igor Sechin and Pirelli & C. S.p.A. chairman and CEO Marco Tronchetti Provera on 24 May 2014 at the St. Petersburg International Economic Forum.

24th November 2014/by Tyrepress Editors

Rosneft gains funding for Pirelli acquisitions, signs MoUs with the Italian tyre maker

Late last month, Russia’s Rosneft disclosed it has attracted investments from pension capital funds and financial institutions to fund its 50 per cent acquisition of the holding company that owns 26.19 per cent of all shares in Pirelli & C. S.p.A., and can thus close the deal upon receiving approval from regulatory authorities. One the acquisition is given the green light under European, Italian and Russian law, the oil giant will indirectly hold a 13 per cent stake in Pirelli.

6th June 2014/by Tyrepress Editors

Hankook, Lanxess join forces for synthetic rubber development

Hankook Tire and German specialty chemicals firm Lanxess will work together on the development of synthetic rubber technologies for use in high performance tyres. The details of the two companies’ collaboration were laid out in a Memorandum of Understanding signed on 26 February. Under the agreement, Hankook and Lanxess will jointly work to expedite the development of synthetic rubber grades for high performance tyres. Lanxess says the MoU builds on the ties it has maintained with Hankook since 2008, when the tyre maker awarded it a long-term contract to supply solution styrene-butadiene rubber (S-SBR) and neodymium performance butadiene rubber (Nd-PBR).

28th February 2014/by Tyrepress Editors

Pirelli signs Armenia synthetic rubber MoU

On 27 December, Pirelli reported the signing of a Memorandum of Understanding between Pirelli Tyre Russia, Russian petroleum company Rosneft and Oil Techno; the MoU covers setting up a joint venture to research and develop synthetic rubber, in particular Styrene-Butadiene Rubber (SBR), in Armenia.

2nd January 2014/by Tyrepress Editors

Pirelli signs research MoU with Russian partners

Company News, International News

Russian government-owned oil company Rosneft and state corporation Rostec (Russian Technologies) have entered into a Memorandum of Understanding with Pirelli. Under the MoU, signed on 26 November, the three parties agree to the joint research and development of materials to be used in tyre manufacture.

27th November 2013/by Tyrepress Editors

Pirelli signs Russian retail MoU

According to a forecast published by IHS Global Insight in April, Russia’s premium car segment is expected to grow 5.2 per cent this year and 8.5 per cent in 2014. Pirelli focuses its strategy on this segment and therefore views Russia as a key market. Following the signing of a Memorandum of Understanding with Russian oil and gas company Rosneft, the Italian tyre maker will soon begin construction work on its first flagship ‘PZero Platinum’ tyre shop within the country.

16th April 2013/12,345 Comments/by Tyrepress Editors

Apollo Signs Chennai MoU as Million Milestone Reached

Less than ten months after entering commercial production Apollo Tyres’ Chennai facility has produced its millionth passenger car tyre. The milestone tyre, an Acelere in size 185/65 R14, rolled off the production line on the evening of January 17 – one of some 7,000 PCR tyres and 1,300 TBR tyres manufactured that day.

18th January 2011/by Tyrepress Editors

Sibur, Reliance Industries Enter Butyl Rubber JV

India’s Reliance Industries Ltd. and Russian petrochemical company Sibur have signed a Memorandum of Understanding (MoU) to establish a joint venture in India to produce butyl rubber at Reliance’s integrated petrochemical site in Jamnagar, Gujarat state. According to the MoU, Sibur will provide proprietary technology for butyl rubber polymerisation and its finishing, while Reliance will supply monomers and provide the infrastructure and utilities for the venture.

17th May 2010/by Tyrepress Editors

Cetaris Orders Transense Tread and Pressure Equipment

Transense subsidiary, Translogik Ltd has secured significant order for its tread depth and tyre pressure field inspection kits from Cetaris, a leading Enterprise Asset Management (EAM) provider in North America. Cetaris will now deploy the Translogik kits as part of its innovative EAM and Fleet Maintenance Solution. The system will provide its customer fleets with "real-time" mobile data capture capabilities. The announcement follows a successful pilot programme, the newly ordered kits will be deployed throughout the Cetaris network in 2010.

26th November 2009/by Tyrepress Editors

Think Signs Up Dutch EV Deal

Electric vehicle manufacturer Think has signed a Memorandum of Understanding (MOU) to deliver up to 500 TH!NK city electric-powered vehicles this year to ElmoNet, a subsidiary of Mobility Service Netherlands.
With the Dutch Parliament calling for the rapid introduction of EVs (electric vehicles), the Minister of Transport, Mr. Camiel Eurlings, earlier this year announced a fund of 10 million Euros to be made available to support the large scale, early introduction of electric mobility.

“Ambitious visions and concrete measures are required to make the Netherlands the most important experimental garden for electric mobility” says Marjan Minnesma, Director of Urgenda. Urgenda is an active foundation that aims to transform the Netherlands into a model for sustainable development.

20th March 2009/by Tyrepress Editors

EWI Signs MOU for Tyre Facility

Environmental Waste International Inc. has signed a memorandum of understanding (MOU) with publicly traded Israeli company, TRD Instum Ltd. (TRD). The agreement sees the company move forward on plans to form jointly owned companies with the exclusive rights to EWI’s patented Reverse Polymerization technology in Israel and certain European countries. The MOU will remain in effect until the 30 May 2008 final agreement deadline.

The MOU requires TRD to place an order for a TR1500 reverse polymerisation machine. The TR1500 reduces tyres to carbon black, oil, steel and non-condensable gases. The agreement will include specific performance requirements for TRD to retain exclusive rights in Israel and the designated European countries. According to an official statement on the matter, the TR 1500 installation would be a showpiece for entering the European and Middle Eastern markets.

4th March 2008/by Tyrepress Editors

China, US Groups Sign MOU on Technology, Brand Development

(Akron/Tire Review) The Automotive Industry Action Group (AIAG) and the Society of Automotive Engineers (SAE) of China signed a memorandum of understanding (MOU) in Beijing to promote dialogue and collaboration between the North American and Chinese automotive industries in the areas of technology, management and standards development, AIAG said.

The agreement establishes a foundation for both associations to work together in support of their members’ needs for standardised processes in quality, materials management, logistics and e-commerce, the statement added. The MOU will initially focus on channels of communications for sharing information between AIAG and China’s SAE.

28th November 2006/by Tyrepress Editors