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Company News

Early redemption for Continental USD bond

Continental reports the planned early redemption of the $950 million, 4.5 per cent coupon USD bond that company subsidiary Continental Rubber of America, Corp. issued in September 2012. The redemption will now take place on 15 September 2015, four years earlier than the original maturity date, with a redemption price of 102.25 per cent.

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UK News

‘End Calais madness now’ – FTA

“End this madness now,” is the Freight Transport Association’s message to the French Government after ferry workers threatened a second week of cross-Channel disruption. A four-day strike by MyFerryLink workers saw burning tyres thrown on the Eurotunnel tracks and 30 miles of lorries stacked on the M20 in Kent.  Industrial action was suspended on Thursday but further walk-outs are threatened from next Tuesday and FTA deputy chief executive James Hookham says enough is enough.

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International News

Michelin-licensed SSBR, PBR plant to be built in Indonesia

PT. Synthetic Rubber Indonesia, a joint venture company owned by Groupe Michelin and PT Chandra Asri Petrochemical Tbk, has awarded Toyo Engineering Corporation and PT. Inti Karya Persada Tehnik contracts to set up a 120,000 ton per annum synthetic rubber facility in Cilegon on the western tip of Java, Indonesia. The plant is expected to be ready in 2018 and will produce Michelin-licensed Solution Styrene Butadiene Rubber (SSBR) and Polybutadiene Rubber with Neodymium Catalyst (PBR) for use in tyre production.

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Motorsport

First win for next gen Dunlop GT3 tyre as Walkenhorst BMW wins at Nürburgring

First win for next gen Dunlop GT3 tyre as Walkenhorst BMW wins at Nürburgring

Walkenhorst Motorsport completed its first ever win in its BMW Z4 GT3 car following an intense battle in the heat of the Nürburgring Nordschleife in the fourth round of the VLN Endurance Championship. The result was also significant for Dunlop, since it marked the first win achieved on the brand’s new generation GT3 tyres since they were introduced for the 2015 season. The VLN championship features open tyre competition, with seven different tyre manufacturers in the running.

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Retreading News

Mexican carrier lauds Vipal product performance

Mexican carrier lauds Vipal product performance

Mexican carrier Morgan Express says ti achieved reductions by retreading over 800 tyres from its fleet with Vipal materials. Morgan has over 40 years of experience in the logistics markets, with facilities in five Mexican cities (Guadalajara, Monterrey, Nuevo Laredo, Veracruz, and Mexico City). The company, which has a fleet of around 150 vehicles, retreaded over 800 heavy duty tyres in 2014, using Vipal’s VEL B and V167 B treads.

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Product News

Easi Recycling introduces higher capacity tyre baler

Easi Recycling introduces higher capacity tyre baler

York-based supplier of recycling equipment and solutions, Easi Recycling has added a new, high capacity product to its portfolio of balers and compactors. While the company’s range has always included tyre balers, the newly upgraded line now includes the higher output W8500H baler. Processing between 400 and 500 tyres per hour, with an 85 ton pressing force and increased support pressing plate, the W8500H has been designed and manufactured purposefully for the tough material waste management of vehicle tyres, Easi states.

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Career Tracks

UK automotive sector turns over a record £69.5 billion

New figures released by the Society of Motor Manufacturers and Traders (SMMT) confirm the growing strength and vitality of the UK automotive industry and its ascendancy as a major global player. SMMT’s 16th annual Sustainability Report confirms the sector is breaking new records, with turnover hitting an all-time high of £69.5 billion in 2014. Manufacturing output, vehicle sales, jobs and export values also grew, while the environmental impact from vehicle production has been reduced dramatically.

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Comment

Consolidation now

A couple of months ago we discussed the “restructuring” of relatively large and modern Chinese manufacturer Deruibao Tire. Back then, Qingdao Doublestar was top of the list of firms connected with an acquisition/cooperation/merger rescue orchestrated by the local government. A month later government-owned ChemChina announced that it was buying Pirelli. This latter point has been covered in some depth in the pages of Tyres & Accessories, especially in our April edition. The Pirelli/ChemChina story will no-doubt garner more attention as the very complex outworkings of the deal are walked out, but what remains of interest is the way in which both the local Chinese market and the global industry are engaged in a period of both parallel and inter-connected consolidation.

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