Schaeffler donating 1 million euros to combat COVID-19
Automotive supplier Schaeffler AG and the Schaeffler family are jointly donating one million euros to the Red Cross to help in the fight against COVID-19.
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Automotive supplier Schaeffler AG and the Schaeffler family are jointly donating one million euros to the Red Cross to help in the fight against COVID-19.
Agility and rapid responsiveness are important for GRI, and the company believes these qualities set it apart within the specialty tyre manufacturing industry. It shares that the firm has “been ahead of other companies in the industry” facing the current COVID-19 situation thanks to the very proactive and far-sighted actions of its senior management.
To find the best tyres for the “dynamic mid-range segment”, German motoring publication auto motor und sport (ams) has taken a look at 11 products in size 225/45 R18Y. While the usual premium suspects claimed the victors’ podium, the ams test also confirms what Auto Zeitung recently found – that Maxxis is making some great value for money tyres at the moment.
OTR tyres that last longer save users money, observes Monaflex Repair Systems. An important factor determining tyre lifespan is the quality of repairs made to tyres. The company behind the Monaflex system thus poses the following question – how do you achieve the best possible tyre repairs? It encourages everyone undertaking OTR tyre repairs to consider six key points.
Cooper Tire & Rubber Company announced on Friday that its tyre manufacturing plants in North America will remain shuttered for at least another two weeks. The company began closing down its Findlay, Clarksdale, Tupelo and Texarkana facilities in the USA and El Salto plant in Mexico on 21 March and intended to shut them down for two two three weeks. It says the production pause is being extended both to protect the health and safety of employees and as a response to decreased market demand. Cooper will continue to closely monitor the situation and adjust timing as necessary.
It’s almost two years since the reign of the Nokian Tractor King began, and this regally-titled agricultural tyre range has more than doubled in size since coming to market. It is growing again in 2020 with the addition of a dimension that Nokian Heavy Tyres says expands the tyre family’s potential even further.
The Board of Directors of Pirelli met last Friday to take stock of the COVID-19 crisis and its detrimental effect upon global economic outlook. During the meeting, they decided the scenario that forms the basis of the 2020-2022 Industrial Plan, which Pirelli presented on 19 February, no longer applies. The Board has therefore decided to reformulate Pirelli’s targets for 2020 “in light of the elements available today” and has also cancelled the distribution of dividends for 2019 for the time being and revised its 2020 renumeration policy.
A trio of Hankook tyres are recipients of the Red Dot Award 2020 for product design. Hankook Tire shares that the Red Dot Award judges singled out the Hankook i*pike RS2, Hankook Dynapro AT2, and Hankook Dynapro MT2 for this honour.
Nokian Tyres has announced a dividend of 0.79 euros per share for the 2019 financial year, paypayble 17 April 2020. In addition, the company’s Board of Directors is authorised to approve an additional dividend payment of up to 0.79 euros per share “at a later stage when Nokian Tyres is able to make a more reliable estimate on the impacts of the COVID-19 to the company’s business.” This authorisation is valid until the company’s next Annual General Meeting.
A new strategic partnership between Toyo Tire Corporation and automotive component manufacturer JAOS Corporation aims to increase the value of both brands within the SUV and 4×4 sector around the world. The two Japanese companies will collaborate in marketing activities and leverage their aggregate knowledge gained through joint participation in motorsports events and original product testing.
Nokian Tyres has appointed Jukka Hienonen chairman of its Board of Directors. Kari Jordan is deputy chairman.
Michelin intends to reduce the dividend it pays shareholders for 2019. The tyre maker has outlined its decision, taken “in a commitment to optimally balance the interests of all its stakeholders”, to reduce the amount of the proposed dividend from the initially-announced 3.85 euros to 2 euros. Payment is scheduled for 3 July 2020.
Growers, suppliers and manufacturers of both natural and synthetic rubbers are feeling the impact of the COVID-19 pandemic, with demand for both commodities decreasing significantly in the first quarter of 2020.
Insolvency proceedings begin for 7 Fintyre Group companies in Germany
Braking systems company Brembo S.p.A. has announced that it holds an interest in consumer tyre manufacturer and fellow Formula 1 supplier Pirelli. As of 31 March 2020, Brembo holds a 2.43 per cent stake in Pirelli, both directly and through its parent company Nuova FourB.
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