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Nokian Tyres plc has today signed a syndicated revolving credit facility of 200 million euros with a group of five banks, which will replace a total of 175 million euros of existing credit facilities. The company will use the three-year facility, which has two one-year extension options, as a back-up for general corporate purposes.
All-season tyres are a logical choice for smaller vehicles primarily used in urban areas, and for this reason, it is surprising that few tyre tests focus on fitments for cars such as these. Tyre Reviews addressed this in its 2023 all-season test, looking at ten tyres in size 195/65 R15. Site founder and resident tester Jonathan Benson fitted these to a VW Golf 7 and evaluated the tyres’ performance in dry, wet and snowy conditions as well as for comfort and value.
There’s absolutely nothing tyre-related to see, but that doesn’t faze Pirelli. With less fanfare than we expected from the 50th edition and the concept’s 60th anniversary, Pirelli has launched its latest Calendar. It presented this creation – also known as The Cal – to the world at an event held in London on 30 November.
Elaborating upon the FIA announcement that Bridgestone will take over from Hankook as the sole tyre supplier of the Formula E World Championship from the 2026-2027 season, Bridgestone emphasises that the all-electric race series will become “a cornerstone of the company’s sustainable global motorsports strategy.” Furthermore, it intends to use supply arrangements such as this to “continue to develop and refine sustainable technology” and to “accelerate innovation” that delivers value throughout the entire tyre lifecycle.
Instead of rectifying quality issues affecting hoses produced at the ContiTech plant in Korbach, Germany, someone allegedly chose to address the problem by systematically manipulating test results. Continental uncovered this potential fraud during an internal investigation, and authorities are now on the case.
On Tuesday, Alcoa Wheels Europe broke ground on a plant expansion in Hungary that will meet growing demand for Alcoa Dura-Bright wheels. The start of work at the Howmet-Köfém LLC site follows the recent celebration of Alcoa’s 75th anniversary.
NASCAR has honoured Goodyear’s Rich Kramer with the Bill France Award of Excellence in recognition of his leadership and contributions to the motorsport series as chief executive and president of Goodyear. Jim France, chairman and chief executive officer of NASCAR, presented Kramer with the accolade during the 2023 NASCAR Cup Series Awards on 30 November.
Bridgestone will return to a FIA World Championship for the first time in a decade-and-a-half when it begins delivering tyres to Formula E in 2026/27. The FIA has announced that Bridgestone will serve as tyre supplier to its Gen4 cars, which will debut in Season 13 of the championship. The Japanese tyre maker will follow on from Hankook, which began supplying Formula E in 2023 after accepting the baton from Michelin.
The FIA World Motor Sport Council (WMSC) has convened for its final meeting of 2023, and during this meeting the WMSC approved the WRC Commission’s recommendation to appoint Hankook as the official tyre partner and supplier to the FIA World Rally Championship. Hankook will commence in this role in 2025, initially for three years.
Kerr’s Tyres Group has announced its purchase of GM Tyres in Tandragee, Northern Ireland. The Antrim-based company says this acquisition “marks a significant milestone for Kerr’s Tyres Group” that further solidifies its “commitment to providing proven products and services to its customers.”
This year’s Pirelli Supplier Day took place today at the tyre maker’s headquarters in Milan, with the company welcoming companies from 18 countries. The more than 70 strategic suppliers attending the event represent around 40% of Pirelli’s annual global purchases, and Chief Procurement Officer Andrea Maganzani honoured five stand-out firms.
Nokian Tyres has refreshed its summer tyre range with two new products, Powerproof 1 and Wetproof 1. It will offer a total of 99 new products for cars, CUVs and SUVs in 15- to 20-inch rim diameters, with both lines debuting in time for summer 2024.
Symbio, Michelin’s equally owned joint venture with automotive supplier Forvia and vehicle manufacturer Stellantis, has inaugurated its SymphonHy facility today. Located in Saint-Fons, within the Auvergne-Rhône-Alpes region of France, the site houses Symbio’s headquarters, a production plant, an innovation hub and the Symbio Hydrogen Academy.
Continental revealed its strategy for growth at its Capital Market Day yesterday. The company aims to enhance value creation by implementing cost reduction measures, with a goal of achieving an adjusted EBIT margin of 8-11% within 2-3 years and improving within this range thereafter. Continental also refined its sales targets and now aims for €44-48 billion in 2-3 years and €51-56 billion in 3-5 years.
VMI has officially opened its new Southeast Asian service centre in Chonburi, Thailand. The machinery manufacturer says the move from smaller premises to the high-tech facility reflects its “commitment to support the industry in this increasingly important region.” The new service centre will serve the growing needs of VMI customers in the entire Southeast Asian region.
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