Yongsheng Rubber shareholding changes
Tyrepress has learned from people familiar with the matter that the shareholding of Shandong Yongsheng Rubber Group Co., Ltd. has changed recently. After the equity change, Tian Xiuzhen held 50 per cent and became the group’s major shareholder. Liu Zijun and Liu Huiqin each own 25 per cent of the shares.
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Eldan & Pyrum intensify tyre recycling, pyrolysis collaboration
Under an expanded cooperation, end-of-life tyre (ELT) recycling equipment manufacturer Eldan Recycling A/S and pyrolysis technology developer Pyrum Innovations AG will include each other’s products in their complete recycling solutions. The Danish and German firms say they’ll distribute these solutions “actively”.
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ZC Rubber excluded from EU tyre tariff annulment since first ruling didn’t apply
The Zhongce Rubber Group (ZC Rubber) was excluded from the list of applicable companies in the European Courts of Justice’s 4 May 2022 ruling annulling import tariffs against truck tyres produced in China. Reading the small print of the ruling reveals why. The initial ruling didn’t completely apply to ZC Rubber and so action against it couldn’t be annulled. In other words, the latest anti-dumping annulment is inadmissible for ZC Rubber, because nothing was applied in the first place.
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US launch for Goodyear’s soybean truck tyres
This week, Goodyear Tire & Rubber Company achieved a further step towards its goal of fully replacing petroleum-derived oils by 2040. Selected products within the Goodyear Metro Miler range, a city transit tyre available to customers in North America, are now produced using a bio-based soybean oil compound that replaces a portion of the petroleum-based materials used.
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Chinese truck tyre tariffs annulled
Anti-dumping and anti-subsidy tariffs imposed against Chinese-produced truck tyres in 2018 must be annulled, according to a judgement published by the European Court of Justice on 4 May 2022. Tyres & Accessories understands that the verdict can be appealed between now and July, but unless that appeal is successful, the annulment of anti-dumping tariffs against Chinese-produced truck tyres will result in increased imports and sales of those products.
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The Blimp returns
Those of you in London and the south of England are advised to look upwards next week, for the Goodyear Blimp is returning to our skies. Goodyear tells us that the Blimp will be above London and the surrounding areas on 11 and 12 May. From there, the icon will travel to Brands Hatch for the second round of the British Touring Car Championship on 14 and 15 May, where it will provide aerial coverage of the race.
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Titan International: No further investments in Russian operation
Although Russian tyre maker Voltyre-Prom recently spoke of potential opportunities arising from the war in Ukraine and related international implications, majority shareholder Titan International confirms it will not be investing in this business any time soon. Details of Titan’s relationship with the Russian operation were set out in the US-based firm’s 10-Q financial report for Q1 2022 and further commented on during a teleconference held on 3 May.
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Hankook debuts global Instagram account
Hankook Tire has launched its official global Instagram account with a goal to tap into the Millennials and Generation Z, a demographic it collectively calls the ‘MZ Generation’. The Instagram channel will provide MZs with a “new brand experience” and will specifically feature its new iON family of electric vehicle tyres.
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Dymag & Hankuk Carbon partner to produce carbon composite rims for OEMs
Carbon composite wheel firm Dymag Performance Wheels Ltd has entered into a strategic partnership with advanced composite materials manufacturer Hankuk Carbon Co Ltd to enable the mass production of state-of-the-art high-performance carbon composite wheels for the world’s leading automotive OEMs.
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Martins acquires Checkpoint
Towards the end of April, tyre servicing equipment supplier Martins has recently acquired UK company Checkpoint, which is known for its wheel security products. Checkpoint has 30 years of experience in the market that began with founder, CEO and inventor Mike Marczynski.
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Racetrack debut for guayule rubber tyre
Several tyre makers plan to offer tyres containing natural rubber from non-conventional sources. Bridgestone Americas has been working to commercialise guayule shrub rubber for a decade and recently announced the upcoming motorsport debut of a race tyre made with guayule rubber grown and extracted at its R&D facilities. It will introduce the new Firestone Firehawk at the Indy Pit Stop Challenge on 27 May ahead of the race tyre’s competitive premiere in August.
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City 1st Tyres gains TruckForce Service Award
UK-based truck tyre specialists City 1st Tyres is one of five TruckForce partners that Goodyear has honoured with a TruckForce Service Award for the first quarter of 2022. Announcing the latest recipients, Goodyear states that City 1st Tyres and the other awardees across its pan-European network have “demonstrated exceptional service.”
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Springwater Capital increases Fintyre capital, becomes majority shareholder
Springwater Capital has completed the strengthening of the capital structure of the large Italian tyre distributer Fintyre, reports our Italian sister website PneusNews. The transaction completes the process started in June 2020 with the request for an arrangement with creditors presented by Fintyre to the Court of Brescia after the exit of Bain Capital, the main shareholder.
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Nokian Q1 shows strong growth with Ukraine war effects set to bite in Q2
The effects of the Ukraine war are not present in Nokian’s first quarter reporting, published on 28 April. The company has seen good levels of Q1 growth versus 2021, especially in its car tyre sales, but also in its commercial tyre business. However, with the manufacturer highly leveraged on Russian manufacturing and European sanctions against the country ramping up, it has announced to investors that all bets are off regarding its 2022 forecasts. The negative effects are largely related to passenger car tyre sales – Nokian explains that its “Heavy Tyres” are produced in Finland. It adds that while it has stopped the distribution of these products in Russia, “Nokian Tyres has never sold tyres to the Russian army, and the Russian Federation is not a customer of Nokian Tyres.”
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Nokian Tyres expects significant drop in net sales due to Ukraine war
Following the withdrawal of its 2022 guidance on 28 February, Nokian Tyres has commented that it expects net sales and segments operating profit in 2022 to “decrease significantly compared to 2021.” The tyre manufacturer is the most acutely affected by the Ukraine-Russia war, as analysis previously published on Tyrepress shows.
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