VMI’s Auke Dalstra dies in flight MH17 crash
The VMI Group has shared the tragic news that its chief financial officer, Auke Dalstra, was killed in the crash of flight MH17 last Thursday. Mr. Dalstra and his wife Aafke were travelling on the Malaysian Airlines flight to a holiday destination.
Continue ReadingBrazil chosen for Evonik’s latest silica plant
Evonik Industries is building its first highly dispersible (precipitated) silica plant in South America. The company announced on 21 July that it will invest a “mid-double-digit million euro amount” in a facility located in Americana, within Brazil’s São Paulo state. No word has been given on the greenfield site’s anticipated output tonnage when it goes on stream in 2016 or when full capacity is reached. The silica produced will mainly be used in the production of low rolling resistance tyres, however Evonik says that by building the plant it will also cater for the needs of the growing regional business in attractive specialty segments in South Americas food, animal feed, and agricultural industries.
Continue ReadingRosneft responds to its inclusion on sanctions list
Russia’s Rosneft, indirect 13 per cent shareholder in Italian tyre maker Pirelli, has commented on the decision by the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) to include it on the new sectoral sanctions list. The oil company was one of four energy sector companies added to the list on 16 July 2014; the sanctions were announced in response to unrest in Ukraine but were put in place before the crash of Malaysian Airlines MH17. Under the terms of the sanctions, US citizens can not undertake certain dealings with Rosneft and the other firms, and they will not be able to obtain medium or long-term lending from the US.
Continue ReadingContinental names top 2013 suppliers
At Continental’s Supplier Day 2014, held recently in Prague, the tyre maker and automotive systems provider honoured suppliers that offered “outstanding performance” last year. The company gave Supplier of the Year 2013 awards to 16 of its approximately 900 key suppliers at a ceremony attended by 370 invited guests. Awards were given for excelling in four key areas: quality, technology, logistics and purchasing conditions.
Continue ReadingMetzeler revises logo, unveils new brand slogan
A new slogan and logo aim to reinforce Metzeler’s position as the “natural choice for true biking enthusiasts.” The Pirelli-owned marque has introduced the slogan “sharing independence”, and although this sounds an oxymoron it is intended to represent the individualism within a community that is a core element of the motorcycling experience for many, and a value that Metzeler says underpins its brand positioning. Metzeler tyres are, the manufacturer says, products that cater to “the community of bikers who are looking for high performance and reliable tyres capable of providing a fulfilling riding experience in any condition or situation.”
Continue ReadingHexpol buys compounding firm Kardoes Rubber
Hexpol has agreed to acquire well known US rubber compounding firm Kardoes Rubber Co. from company founder Frank Kardoes and his family for US$31.8 million. According to Hexpol, the acquisition price will be paid on a cash and debt free basis and is funded by a combination of cash and existing bank facilities. The acquisition price will be paid upon completion of the acquisition which is estimated to take place at the end of July. The business is expected to be consolidated from August 2014.
Continue ReadingNankang employee arrested for alleged kickbacks
According to various Taiwanese media sources, an assistant manager employed by Nankang Rubber Tire Corp. Ltd. has been arrested along with his wife on suspicion of receiving illegal rebates from the tyre maker’s suppliers. The arrested man has been identified by the surname ‘Chen’, and police are said to have taken custody of NT$230 million (£4.5 million) in cash plus remittances found in his home and office in Hsinchu City. The arrest was made on 16 July.
Continue ReadingMichelin supplying tyres to Carlsson
Under an agreement recently signed between Michelin and Carlsson, three Michelin tyre lines are being delivered to the German tuning manufacturer as a works-fitted option for its “most powerful models”. The Pilot Sport 3, Pilot Super Sport and Pilot Sport Cup 2 ranges are supplied by the ‘Specialty Products’ department within the Michelin Motorsports division, a department set up to manage the tyre maker’s ultra high-performance car tyre business and to serve both small and large manufacturers and tuners. The Carlsson supply deal commenced on 1 July.
Continue ReadingMAM heading to Automechanika
MAM Software has announced it will exhibit at Automechanika Frankfurt between 16 and 20 September. The company’s show presence will be located in the SMMT Pavilion in hall 5.1 at stand E95, and the company says it will use the event to identify new market opportunities for its cloud-based enterprise management software, data and e-commerce solutions.
Continue ReadingUS Department of Commerce proceeding with tyre import tariff case
The US Department of Commerce Department is proceeding with the US United Steelworker’s case against Chinese tyre imports into America. The union is pushing for new import duties similar to those that were introduced in 2009 and has hailed the news that the case is continuing and as a significant step forward in the process.
Continue ReadingEuropean tyre markets up across all segments in 1H 2014
The European Tyre and Rubber Manufacturers Association (ETRMA) has published figures showing that is members experience sales increases across all segments in the first half of 2014.
Continue ReadingRestructured Orion IPO launched
Following the withdrawal of Orion Engineered Carbons’ IPO, which was first launched in April, the carbon black specialist has launched a slightly restructured IPO on the NYSE. The entire US405 million float will now be based on the almost 90 per cent stake in the company owned by the Rhone Group and Triton Capital through Kinove Holdings. Kinove aims to sell 18 million shares at a price range of $21 to $24. Taking the midpoint of this price range, Orion Engineered Carbons would command a market value of $1.3 billion.
Continue ReadingGoodyear declares dividend on common stock
Directors of The Goodyear Tire & Rubber Company have declared a quarterly dividend of US$0.06 per share of common stock. The dividend is payable 2 September 2014, to shareholders of record on 1 August 2014. The payout represents an annual rate of $0.24 per share.
Continue ReadingGT Radial wins European original equipment deal
Top ten tyre manufacturer, Giti Tire has confirmed its first GT Radial original equipment homologation fitments for the European passenger car and light truck market. Both Renault Nissan and PSA Peugeot Citroen will fit the manufacturer’s tyres on European models, with the latter’s Peugeot Partner and Citroen Berlingo models running on GT Radial in Western European markets.
Continue ReadingFederal-Mogul completes Honeywell Friction business purchase
Federal-Mogul Holdings Corporation announced yesterday that its Motorparts division has completed the acquisition of certain business assets of the Honeywell Friction Materials business. The Honeywell Friction Materials business is headquartered in Glinde, Germany, with significant operations in Romania and China. With the business acquisition, Federal-Mogul Motorparts takes on the Jurid brand name.
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