Nexen Tire signs Czech plant deal, ups investment to $1.17 billion
Following Tyres & Accessories’ reporting of Nexen Tire Corp’s decision to build a greenfield tyre production plant in the Czech Republic back in March 2014, the company has signed a deal with the Czech government. On 27 June the Korean Yonhap news agency reported that tyre company negotiated a 1.2 trillion won (US$1.17 billion) to build the factory. The specific number here is significant because the details issued to T&A in March only referred to investment of $800 million dollars.
Continue ReadingMaxxis/Cheng Shin investing $500 million in tyre factory construction and expansion
Cheng Shin Rubber Ind. Co. Ltd. (the parent company of Maxxis International) is investing over US$500 million in building new plants in Indonesia and Taiwan as well as expanding three existing plants in China.
Continue ReadingThe Genesis of Zenises
Mid-way through the Essen Show, the people behind one of the largest plots in hall three (home to the Infinity, Westlake and Linglong brands) announced that they are changing their corporate identity. And while this did mean the unveiling of a Zenises logo and a new range of Z branded tyres, speaking to chief executive officer Harjeev Kandhari reveals that the concept goes far further than this.
Continue ReadingMaxxis ‘holding ground’ in global tyre market
Maxxis held its ground at number nine in the annual Tyres & Accessories ranking of key global tyre industry companies, with its 2013 financial results showing consistency with 2012. The Taiwan based manufacturer reported small increases in sales, from $4.63 billion in 2012 to $4.77 billion in 2014, with net profit remaining at around 14 per cent. Maxxis International managing director Derek McMartin said that the company considers its results “a great achievement” given the continuing volatile market situation.
Continue ReadingCooper plans Ohio technical centre to supplement Melksham facility
Cooper has formally announced its plans for a $35.5 million Global Technical Center in Findlay, Ohio, Tire Review reports. Located at the tyre-maker’s headquarters the new tech centre will occupy the same building as the company’s North America Technical Center (NATC). Expected to be operational by the end of the year, the GTC will supplement the tyre-maker’s regional tech centres around the world, including its Asia Technical Center in Kunshan, China, its European Technical Center in Melksham, England, and its NATC, on site.
Continue ReadingCzech government approves Nexen investment plan
On 16 June the Czech Republic government endorsed one of the largest investments made in the country in the last few years; The Czech cabinet approved Nexen Tire’s plan to invest Kc 22.8 billion (£663.8 million) to build a factory in the Ústí nad Labem region of Bohemia. According to the Czech government, the project will create around 1,000 jobs.
Continue ReadingTriangle takes westward steps
China-based Triangle Group Co. Ltd. may already be the world’s 15th largest tyre manufacturer, according to Tyres & Accessories’ latest global tyre manufacturer ranking, but it is clear that the company is intending to go far further than this. Rhetoric to this effect is not uncommon amongst Far Eastern businesses, but as is always the case, actions speak louder than words. With its latest appearance in Essen Triangle has begun fleshing out its plans to take the company from being a Chinese manufacturer with export sales to being a large international manufacturer with global reach.
Continue ReadingGoodyear DuraTrac best off-road tyre says Off Road magazine
For the second time in a row, Goodyear’s Wrangler DuraTrac tyre has been chosen as the best off-road tyre by readers of the specialised German magazine “Off Road”. It won in the category “Traction Tyres,” in which readers were invited to vote for one of 10 competitors.
Continue ReadingBespoke Arcom storage system helping tyre manufacturer stay flexible
Polish supplier of storage systems for the tyre industry, Arcom has developed and installed a new flexible storage system at German tyre supplier, Heidenau. Arcom says the new project demonstrates the flexibility of its crates and stackable storage containers for tyres, in addition to its adaptability to the individual needs of each client.
Continue ReadingSand, samba and sport – Continental catches World Cup fever
What do you do if you’re a World Cup sponsor and it isn’t feasible to fly all your customers over to Brazil? You can always bring Brazil to your customers. This is the approach Continental has taken, and over a three-week period the tyre and automotive systems manufacturer is inviting dealers and other guests to its own slice of South American paradise, some 30 miles north of the German city of Hannover.
Continue ReadingCheng Shin appoints new chairman, outlines Indonesia project at AGM
At Taiwanese tyre maker Cheng Shin Rubber’s Annual General Meeting, the son of company founder Lo Chieh (Luo Jie) was appointed the firm’s new chairman of the board. Lo Tsai-Jen (Lo Cairen), previously vice-chairman, replaces his 88-year old father as chairman effective 17 June. Lo Tsai-Jen became vice-chairman of the board in 2010; prior to that he served as general manager.
Continue ReadingPhase one at ContiLifeCycle plant successfully implemented
Following a two-year planning and construction phase, Continental reports the successful implementation of the first operational phase at its ContiLifeCycle facility in Hannover, Germany. “Following the official plant opening last December, the series production of retreaded tyres began in the plant at the start of the year,” reported the tyre maker on 13 June. “With this, important goals in regards to product characteristics have already been achieved. Furthermore, additional process-related enhancements are expected due to ongoing process improvements.”
Continue ReadingGiti to build $560 million US tyre plant
Fresh from entering into the top 10 of global tyre makers, Giti Tire has announced that it will build a new $560 million passenger car, SUV and light truck tyre tyre factory, creating about 1,700 new jobs in Chester County, South Carolina during the next decade.
Continue ReadingNexen appoints Seung-Do Jin as new European president
Nexen Tire has appointed Seung-Do Jin, a former Hankook Europe head, as president Nexen Tire Europe. Jin has years of professional experience and, according to the company, his team will be able to align the company in order to “meet all future challenges successfully”.
Continue ReadingBridgestone becomes partner, official tyre of Olympic Games
Bridgestone Corporation confirmed on 13 June its entry into an agreement with the International Olympic Committee (IOC) to become an official top-tier Olympic partner through to the 2024 Olympic Games. The ceremonial signing of the ‘TOP’ agreement in Tokyo was performed by Bridgestone CEO and Board chairman Masaaki Tsuya and IOC President Thomas Bach.
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