Ceat approves funds for new tyre factory
At a meeting on 30 October, the Board of Directors of Indian tyre maker Ceat Ltd approved an Rs 4,200 billion (£43 million) investment to set up a new plant for producing tyres for two and three-wheeled vehicles. This planned facility is expected to have a daily capacity of 120 tonnes. It is understood that the facility will be built in the city of Nagpur, Maharashtra State, rather than in Karnataka State as originally planned.
Continue ReadingMichelin releases ‘Green Paper’ on sustainable mobility
At this year’s Michelin Challenge Bibendum, currently taking place in Chengdu, China, the tyre maker has introduced its so-called ‘Green Paper’, a document on sustainable mobility that contains key proposals to meet the challenges tomorrow may bring. The Green Paper includes a number of recommendations based on lessons learned during the 11 previous Michelin Challenge Bibendum events and the collaborative work of institutions and event partners.
Continue ReadingContinental opens UK automotive research and development centre
Yesterday, tyre and automotive component manufacturer Continental celebrated the grand opening of its new automotive research and development centre in Lewes, East Sussex. In Lewes, Continental develops Surround View systems that provide 360-degree detection of what is happening around a vehicle. The new ‘Pannett’s Building’ provides additional offices, meeting rooms and a workshop, as well as a showroom for vehicles with Surround View systems.
Continue Reading6.1MW solar plant inaugurated at Continental tyre factory
The solar photovoltaic power station project at Continental’s tyre plant in Hefei, China was officially inaugurated yesterday at a ceremony attended by local government representatives and by Stephan Weil, prime minister of Continental’s home region of Lower Saxony, Germany. Representing the tyre maker at the event was Dr Ralf Cramer, member of Continental’s Executive Board and CEO of Continental China, and Michael Egner, general manager of the Continental site in Hefei. The solar project is being jointly implemented by Continental and HeFei SuMeiDa Sungrow Power Co., Ltd.
Continue ReadingSerbia open for business
With Cooper, Mitas and most recently Michelin all upping production capacity in Serbia, you can understand the Serbs have invested in communicating the benefits of locating tyre production in the area during the course of 2014. But that’s not all. They have also invested in travelling all the way to Grungrao, Shandong provice, China in order to court the attentions of up-and-coming Chinese tyre manufacturers too.
Continue ReadingMarangoni, Tatneft to establish Russia retreading JV
Marangoni and Tatneft Group have agreed to form a retreading joint venture in Russia. Based in Nizhnekamsk, Republic of Tatarstan, the joint venture to retread all steel truck tyres will operate as KaMaRetread LLC and is expected to commence operations in the first half of 2015. Trading house Kama, a wholly owned subsidiary of Tatneft, will own 65 per cent, while Marangoni SpA will own the remaining 35 per cent. Tatneft is the owner of Nizhnekamskshina, which recently reached the milestone of two million all-steel radial truck tyres produced by its Nizhnekamsk factory.
Continue ReadingPhil Stanton becomes County Tyres’ first strategy director
County Tyres has announced the appointment of Phil Stanton in the newly created role of strategy director. Formerly Goodyear Dunlop UK & Ireland sales manager for farm tyres, Stanton joined the group on 1 November to work closely with managing director, Rob Freeman, in developing future strategy.
Continue ReadingVipal Rubber opens UK distribution centre in Felixstowe
Brazilian tyre retreading specialist Vipal Rubber is further strengthening its presence in Europe with the opening of a new distribution centre in Felixstowe, the largest container port in the United Kingdom. The new 2,000 square metre Vipal centre has the capacity to store up to 500 tonnes of products, and was opened to cater to demand in Britain and Ireland; these markets were previously served by Vipal’s distribution centre in Germany.
Continue ReadingBridgestone net income up 7.4% in nine-month financials
On 10 November Bridgestone reported group net sales of 2.665 trillion yen (£14.586 billion; 18.542 billion euros; US$23.137 billion) for the first nine months of 2014. Sales were up 2.3 per cent compared with the same period in 2013. Operating income amounted to 342.468 billion yen (£1.873 billion; 2.382 billion euros; $2.970 billion), up 7.4 per cent. Net income totaled 225.670 billion yen (£1.234 billion; 1.569 billion euros; $1.957 billion), up a strong 15.2 per cent compared with the first nine months of 2013.
Continue ReadingAnalysts: Cooper 3Q results surprise, but shares fall
Shares of Cooper Tire & Rubber Co. fell 1.9 per cent on 7 November following news that the company’s earnings in the third quarter of 2014 increased to 77 cents from breakeven earnings in the prior-year quarter. The latter figure is significant because it exceeded certain analysts’ estimates. For example the Zacks Consensus Estimate of 72 cents was some five cents below the actual results.
Continue ReadingA.C. Milan players dribble from the rooftops with Toyo Tire
Four players from Italian football club A.C. Milan race against an Audi R8 through the team’s hometown in a new video released by Japanese tyre maker Toyo Tire & Rubber. The two-minute promotional video features Riccardo Montolivo, Jérémy Ménez, Adil Rami and Keisuke Honda from A.C. Milan competing against the enthusiastically-driven R8 in a city alley race, and Toyo promises a ‘surprise ending’ when the Stig-like character behind the wheel of the Audi finally removes his helmet. The video is available to view below.
Continue ReadingBridgestone confirms move ‘downtown’
Reports published yesterday on Bridgestone Americas’ upcoming move to a new headquarters have been confirmed by the tyre maker. In a statement, the Bridgestone subsidiary said it will move its headquarters to downtown Nashville following the completion of its new facility in mid-to-late 2017. The new headquarters will house more than 1,700 employees – 1,100 currently based in Nashville and 600 more jobs from three out-of state business units that are being relocated to the city.
Continue ReadingGroundbreaking held for Federal Tyres’ newest factory
At a ceremony attended by local government officials, senior management and international customers, last month Federal Tyres formally broke ground on its third tyre plant in Taiwan. The new facility is being erected on a 14,000 square metre site in the Taoyuan Industrial Park, and the NT$8.1 billion (£166.7 million) investment will be completed in two phases between 2014 and 2020; once the plant is fully operational, it will create 836 jobs and produce an estimated maximum of six million tyres a year.
Continue ReadingTyre innovations yield SRI ‘Top 100 Global Innovator’ recognition
Upon releasing its 2014 Top 100 Global Innovators list on 6 November, Thomson Reuters commented that its top 100 most innovative companies achieved nearly double the 6.85 per cent annual revenue growth rate of S&P 500 firms while increasing their research and development budgets by an average of 17 per cent year-on-year. One familiar tyre industry name on this list of worthies was Sumitomo Rubber Industries; the company views its inclusion on this year’s list as “further evidence of the great acclaim that we have earned for these and other innovative research and development efforts.” This is the second Top 100 appearance for Sumitomo Rubber Industries in the four years the list has been published – Thomson Reuters also chose to include the company in 2011.
Continue ReadingApollo Tyres maintains revenues, increases profits
Net profit went up 17.5 per cent in the second quarter of Apollo Tyres Ltd’s 2014-15 financial year, the company reported on 10 November. This positive result was achieved despite a slight decrease in net income from operations, and reflects a growth in exports from India and healthy performance in Europe.
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