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Michelin to expand Canada truck tyre production

A CDN$73 million (£46.3 million) investment for Michelin’s Waterville truck tyre factory in Canada will increase capacity over the coming four to five years. Michelin North America says the Waterville plant will make capital investments in equipment improvements and increased production capacity; the project will include the installation of new technologies in all aspects of the manufacturing process, supporting the success and continued growth of wide commercial vehicle tyres such as the X One. The project will include a 3,000 square metre assembly building expansion and Michelin anticipates the investment will create approximately 50 new local jobs.

18th January 2013/by Tyrepress Editors

Goodyear avoids Fayetteville layoffs, achieving cuts with buyouts

The Goodyear Tyre & Rubber Co.’s Fayetteville, North Carolina plant has successfully filled the nearly 200 buyouts required to avoid layoffs. The company had announced the need to cut 200 jobs in Autumn 2012, offering staff the option to take buyout packages. Local news sources estimated around 135 employees’ buyouts had been completed on 16 January, with the staff leaving their jobs in phases.

17th January 2013/by Tyrepress Editors

Is Goodyear headed for European restructuring?

Recent reports published by financial analysts suggest Goodyear could be forced to restructure its business in the Europe Middle East and Africa (EMEA) region.
Reporting on an investor’s presentation given in Detroit, Deutsche Bank market watchers relayed that Goodyear cautioned that financial targets established two years ago – specifically US$1.6 billion segment operating income by 2013 – would be “difficult to achieve if current European market trends persist”.

16th January 2013/by Tyrepress Editors

Goodyear supplying OE tyres to NAIAS award winners

Goodyear is supplying some of the most vaunted vehicles at this week’s North American International Auto Show (NAIAS) in Detroit. The 2013 Ram 1500 and the Tesla Model S have been honoured in two very different categories, though Goodyear supplies the standard tyres on both models.

15th January 2013/by Tyrepress Editors

Reports: Alliance has private equity suitors

Several media outlets plus supporting information from Tyres & Accessories’ own sources are reporting that at least two private equity firms are preparing considering bids for Warburg Pincus LLC's majority stake in Alliance Tire Group (ATG). The potential deal is said to be valued at around US$400 million.

14th January 2013/by Tyrepress Editors

Apollo opens global R&D and branding centres

Apollo Tyres Ltd has opened a global R&D centre in Enschede, the Netherlands as well as a global branding centre in London, UK. Opened just days apart, the two moves follow earlier commitments to put European activities in the driving seat for passenger car tyre development and, in company chairman Onkar S Kanwar’s words, to fuse the company’s three cultures into one team. Hints towards increased OE activity and the potential of a more international investor base are also evident.

14th January 2013/by Tyrepress Editors

Bridgestone to boost mining tyre output in US

According to US media reports, Bridgestone Americas intends to increase production of giant mining tyres. Bloomington, Illinois-based newspaper the Pantagraph writes that the Bridgestone Americas Tire Operations factory in the jauntily-named town of Normal will benefit from two expansion projects; these will increase production by around 30 per cent and increase the factory’s workforce by more than 80 employees.

4th January 2013/by Tyrepress Editors

Kumho names new OE, domestic replacement head

After four years as president of Kumho Tire North America, J.B. Kim is to return to Korea and head up the company’s original equipment sales division and Korean market replacement sales division. The position left vacant by Kim in the US will be filled by Hai Eok "Harry" Choi.

4th January 2013/by Tyrepress Editors

MTNA receives Marangoni award

Italy’s Marangoni has given its Marangoni Tread North America subsidiary the company’s ‘President’s Award’ for 2012; the North American operation gained this distinction due to its strong sales performance plus manufacturing and marketing development.

3rd January 2013/by Tyrepress Editors

RMA: 2% rebound expected in 2013

US trade body Rubber Manufacturers Association (RMA) has reported that tyre shipments remained unchanged in 2012 at 284 million units, as an increase in OE shipments offset a decrease in replacement shipments. Furthermore, the association predicted a 2 per cent rebound in tyre demand during the course of 2013.

2nd January 2013/by Tyrepress Editors

Trelleborg buys Maine Industrial Tire

Trelleborg Wheel Systems has agreed to to acquire Maine Industrial Tire, a US-based solid tyres manufacturer. Maine Industrial Tire’s headquarters is in Massachusetts, US, while its production facilities are located in Pennsylvania, U.S., and Xingtai (Hebei), China. Annual sales amount to approximately 600 million Swedish Krone and approximately 650 people are employed in the company. The acquisition is expected to be completed by the end of 2012.

21st December 2012/by Tyrepress Editors

US farmers receive TLC

Those active in the US agricultural sector will benefit from a little TLC from Trelleborg. TLC – short for Trelleborg Load Calculator – is a new app for tablets, smartphones and computers. Trelleborg says the app, which is specifically adapted to meet the needs of the US market, has been developed to precisely calculate a tractor’s load per axle in order to determine the optimal tyre pressure for specific operating conditions.

20th December 2012/by Tyrepress Editors

Kumho USA outlines 2013 products at dealer meeting

This year’s Kumho Tire USA dealer meeting took place between 7 and 10 December, and Tire Review reports that while the tyre maker’s management acknowledged next year will likely be similar to 2012 – in other words, a challenging year for dealers and for the industry in general – the company focused on what its dealers can look forward to.

12th December 2012/by Tyrepress Editors

TriCan acquisition marks ATD expansion into Canada

The Canadian subsidiary of US company American Tire Distributors has acquired the outstanding shares of Tire West Trading (Canada) Ltd., an Alberta-based firm that trades under the name TriCan Tire Distributors. With this purchase, ATD has expanded its distribution services beyond the borders of the United States for the first time, something the company refers to as a “significant step”.

10th December 2012/by Tyrepress Editors

Greenville hoping to attract Michelin investment

Is Michelin planning to expand its Greenville, South Carolina site in the US? The greenvilleonline.com news site says local officials may offer the tyre maker incentives to do so. On 3 December it reported the existence of tax documents that show Michelin North America is seeking a property tax break from Greenville County Council in exchange for a possible expansion in the local area. But any growth plans depend upon any effect the upcoming reduction in the US budget deficit – the fiscal cliff, as it’s known in the US – may have on the economy.

5th December 2012/by Tyrepress Editors