Pirelli signs research MoU with Russian partners
Russian government-owned oil company Rosneft and state corporation Rostec (Russian Technologies) have entered into a Memorandum of Understanding with Pirelli. Under the MoU, signed on 26 November, the three parties agree to the joint research and development of materials to be used in tyre manufacture.
Continue ReadingToyo enters anti-trust plea agreement
On 26 November, Toyo Tire & Rubber entered into a plea agreement with the United States Department of Justice and agreed to pay a US$120 million fine based on charges that the company violated US anti-trust laws in connection with sales of automotive anti-vibration rubber products and constant-velocity-joint boot products. The Japanese company says it decided to enter into the plea agreement “after careful consideration of the applicable laws, and the results of the findings from the investigation.”
Continue ReadingTitan announces 2014 management goals
Titan International has set a 2014 revenue goal of US$2.4 billion to $2.7 billion, the company reported on 25 November. This target assumes that Titan will not make any further acquisitions and is calculated on the premise that pricing and raw material costs will remain flat next year. Titan forecasts maintenance capital expenditure will be $70 million in 2014.
Continue ReadingHungarian synthetic rubber JV announced
Hungary’s MOL Group and Japan’s JSR Corporation have reached an agreement to establish an S-SBR synthetic rubber plant in Tiszaújváros, Hungary. The plant is expected to begin operations in 2017 and JSR and MOL will hold 51 per cent and 49 per cent shares in the joint-venture respectively. Plant capacity will be 60,000 tonnes per annum, and in the long term the project should create more than 100 new jobs.
Continue ReadingTesla awards Conti for Model S tyre development
Continental has been named an ‘Excellent Development Partner’ by Tesla Motors, the US-based electric vehicle manufacturer. The acknowledgement from Tesla was given as a result of Continental’s collaboration and development of specialty tyres for Tesla’s Model S electric saloon. The tyre maker announced in August that it was supplying its ExtremeContact in size 245/35 R21 for the 21-inch rim Model S option sold in North America; now Conti reports that for global markets it has developed an XL version of its ContiSportContact 5 summer tyre in size 245/35 R 21 XL 96 W.
Continue ReadingTrelleborg awarded for ProgressiveTraction technology
During last week’s Agritechnica exhibition, German agricultural publishing group Deutscher Landwirtschaftverlag, or DLV, held its ‘Machine of the Year 2014’ awards. The publisher acknowledged machinery manufacturers in 16 classes of award and, additionally, presented a ‘special prize’ category – which was awarded to Trelleborg for its ProgressiveTraction technology.
Continue ReadingColumnist highlights lenders’ role in Apollo/Cooper problems
Writing on Reuters Breakingviews, corporate finance columnist Una Galani draws attention to how financial institutions contributed towards the current tensions between Apollo Tyres and Cooper Tire & Rubber. She opines that Apollo’s move to renegotiate its Cooper acquisition deal and seek a buying price less than the US$2.5 billion originally offered was pushed by attempts from Apollo’s lenders to extricate themselves from the takeover agreement.
Continue ReadingIBM offers Bridgestone a robust repost
IBM has published an angry response to the lawsuit filed by Bridgestone America’s alleging IBM’s computer system threw the tyremaker’s “entire business operation into chaos.” IBM insists that its Bridgestone’s mismanagement of the project that caused the problems, according to Business Insider International.
Continue ReadingCabot completes Nhumo acquisition
Cabot Corporation has completed its acquisition of the equity stake owned by Grupo Kuo S.A.B. de C.V. in its Mexican carbon black manufacturing joint-venture, Nhumo, S.A.de C.V. The company says Nhumo is Mexico’s leading carbon black producer and the acquisition of Kuo’s interest strengthens Cabots global carbon black business and will help meet growing demand throughout North America. The Nhumo business will now be integrated into Cabot’s Reinforcement Materials segment. Under the terms of the agreement, Cabot will pay Kuo US$105 million, of which $80 million was paid upon closing. In addition, at closing, a special dividend payment will be paid to Nhumo shareholders, of which Cabot will receive $14 million.
Continue ReadingPirelli dips into archive for 2014 Cal
The news about Pirelli’s 2014 Calendar is that it isn’t. It isn’t a 2014 calendar, that is. The Italian company reported today that to celebrate the “milestone anniversary” of the Cal’s half-century, it decided not to produce a 2014 Calendar. Instead, it is releasing the previously unpublished 1986 Pirelli Calendar created by Helmut Newton, which until now has been kept under wraps in the company’s archives.
Continue ReadingTonight’s the night – Pirelli unveiling 50th anniversary Calendar
Half a century of Pirelli beautifying the weeks and months through its Calendar will be celebrated in Milan this evening at a gala event attended by an array of big names. Pirelli has been tight-lipped about its preparations for the launch, however other sources have tipped a number of former Cal photographers to be present, including Peter Beard (2009), Patrick Demarchelier (2005, 2008), Karl Lagerfeld (2011) and Steve McCurry (2013), along with models such as Alessandra Ambrosio, Isabeli Fontana, Summer Rayne Oakes, Tatjana Patitz, Alek Wek, Erin Wasson, Karolina Kurkova. Some say Kevin Spacey will act as event host.
Continue ReadingCabot investing in emissions reduction technology
Cabot Corporation, the second largest carbon black manufacturer in the United States, has agreed to pay a US$975,000 civil penalty and spend an estimated $84 million on state of the art technology to reduce emissions of nitrogen oxide (NOX), sulphur dioxide (SO2) and particulate matter (PM) from its carbon black plants in Franklin and Ville Platte, Louisiana, and Pampa, Texas. According to the U.S. Environmental Protection Agency (EPA) and the Department of Justice, these measures will resolve alleged violations of the New Source Review (NSR) provisions of the Clean Air Act (CAA) at these three facilities.
Continue ReadingRemog integrates BF into group, maintains both product lines
In response the demands of a more diversified market, the Remog group reports that it has implemented “major changes” designed to help the company adapt and take up the challenges before it. The headline news is the incorporation of BF, which is already part of the group into Remog S.p.A’s operations. However the company made it clear that the continuity of the distribution of both lines of products branded Remog and BF will remain.
Continue ReadingWith GT Assist, Giti Tire now offering full fleet portfolio
Following its pilot introduction in Italy, a year ago Giti Tire rolled out its GT Assist commercial vehicle roadside service assistance programme in the UK. The launch of this 90 minute response service, which is operated in collaboration with the RAC, means that since the end of last year Giti Tire has been able to offer a full fleet portfolio of new GT Radial tyres, GT REE Tread mould cure retreads, along with tyre maintenance through its network of more than 180 independent dealers in the UK and Ireland.
Continue Reading‘A new era’ for Continental in Stöcken, as LifeCycle retreading plant opens
Continental has opened its new ContiLifeCycle Plant at its Hanover-Stöcken facility alongside the launch of its Technology Center Campus. With various other retreading and technology centres around the world, the facilities are characterised as nuclei for Conti’s global technological operations; Conti both sends “out into the world” its technological innovations from the Campus, in the words of Tire Division head and Executive Board member, Nikolai Setzer, and brings in specialists and their expertise from global markets to help develop technology for different markets. The LifeCycle Plant is thought to be the most technologically advanced retreading facility in the world, integrating into the manufacturing processes improved rubber recycling capabilities.
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