Toyo Tire USA raising prices in February
Toyo Tire U.S.A. Corp. will increase the dealer base prices on passenger car, light truck and commercial truck tyre patterns by up to 10 per cent. According to the company, the price increase is a result of continued increases in raw materials and logistics costs.
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Cooper integration milestone – production begins in Goodyear plant
Half a year after acquiring Cooper Tire & Rubber, Goodyear reports reaching a “historic integration milestone.” It has begun producing Mickey Thompson ET Front tyres at its Innovation Center Manufacturing (ICM) facility in Akron, Ohio. These are the first Cooper tyres manufactured at a Goodyear facility in the USA.
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Continental appoints EMEA, APAC regional replacement tyres heads
Continental has announced new heads for its passenger car and truck tyre replacement business in the EMEA (Europe, Middle East, and Africa) and APAC (Asia-Pacific) regions. Ferdinand Hoyos (45) will manage Continental’s EMEA replacement tyre business, while Dalibor Kalina (47) will take over Hoyos’s former role as APAC head. The appointees will take up their new positions on 1 January, 2022. Hoyos has been heading Continental’s replacement tyre business in the APAC region since 2018. He succeeds Philipp v. Hirschheydt (47), who is moving to Continental’s Automotive group sector.
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Tyre manufacturers to lose $2bn in OE revenues due to semi-conductor shortage
Astutus Research says that the shortage of semi-conductors and other vital components will lead to $2 billion (around £1.5 billion) in lost original equipment tyre revenues in 2021. The analyst notes that demand for new cars is not a factor in the slump in OE stream sales versus expectations, and that a rebound is expected in the coming years when component supply has returned. Astutus Research is currently offering a new report series via Tyrepress, presenting tyre industry forecasts in the wake of Covid-19, which takes into account such dynamics. The series, entitled ‘Beyond Covid-19’ offers market leading data on global original equipment and replacement passenger car and light truck tyre segments. It also offers region-specific PCLT tyre data for Europe, the Americas, and Asia Pacific. A full summary of the 11 available PDF reports with accompanying Excel data-books is available here.
Continue Reading Nexen Tire Europe raises prices
Nexen Tire is raising prices across its entire product range, effective 1 February 2022. According to the company, “rising raw material prices as well as freight and logistics costs” are behind the price hike. No details of the percentage increase have yet been released.
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Yokohama offers US$2 billion for Trelleborg Wheel Systems as global off-highway tyre segment consolidates
Yokohama Tire has bid around $2 billion for Trelleborg Wheel Systems in a move that could further expand the Japanese company’s growing off-highway tyre business. Sources close to the bid told Tyres & Accessories that Yokohama is currently in a due diligence process that is likely to be completed during the next month or so. Yokohama previously bid for Prometeon, the ex-Pirelli industrial/off-highway tyre business at the end of 2019. Despite ongoing discussions over the following year or so, that deal wasn’t completed. Yokohama appointed the former global head of Prometeon, Gregorio Borgo, as its European president earlier this year. Trelleborg Wheel Systems executives declined to comment on the reports.
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Continental appoints Katja Dürrfeld chief financial office
Continental has appointed Katja Dürrfeld (49) as its new chief financial officer, effective from 14 December 2021. Dürrfeld assumes responsibility for group finance and controlling as well as group information technology immediately, taking over from interim CFO Nikolai Setzer. Setzer had added the role to his existing duties following the departure of Wolfgang Schäfer on 17 November, while Dürrfeld had held the provisional management of these areas below the executive board level. Currently head of Finance, Controlling and Information Technology for the ContiTech business area, she will also take charge of finance and controlling in the future automotive group sector from 1 January, 2022, as was previously announced at the end of September. The supervisory board has also extended the appointment of Dr Ariane Reinhart (52) as executive board member for human relations and sustainability and director of labour relations.
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Liqui Moly extends cooperation with Beta
The German oil and additive specialist Liqui Moly is continuing its collaboration with the Italian motorcycle manufacturer Betamotor. Since 2014, all new motorcycles have been delivered with oil from Liqui Moly. That will remain the case for the next three years. “This underlines our expertise in motorcycles and helps us to further expand this business area,” says Salvatore Coniglio, director export at Liqui Moly.
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FEDIL award for Goodyear’s traction resin
Goodyear Tire & Rubber Company has won a FEDIL Environment Prize. The Luxembourgish multisectoral business federation awarded Goodyear in the ‘Process’ category for its traction resin, which the tyre maker developed at its Innovation Center in Colmar-Berg and uses in the manufacture of ultra-high-performance tyres.
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Bridgestone divesting 2 further non-tyre businesses
In statements published today, Bridgestone Corporation announced the intention to sell its anti-vibration rubber and chemical products solutions businesses. The company expects the respective deals will close by the end of July and end of August 2022.
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Carbon black: Goodyear collaborating with Monolith to reduce CO2
Goodyear Tire & Rubber may soon be utilising carbon black produced from methane and/or biomethane in its tyres thanks to a new partnership with US-based clean materials firm Monolith. The two companies have signed a collaboration agreement and letter of intent covering the development and potential use of such products, which are made through a plasma-based methane pyrolysis process.
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Bolder Industries acquires former Pyrolyx plant
End-of-life tyre raw materials firm Bolder Industries has purchased a former Pyrolyx facility in the USA. It will retrofit the plant in Terre Haute, Indiana, which ceased operations in March 2020, with the Bolder Industries proprietary solution. Bolder will use the facility to increase its manufacturing capacity and commence production there early in 2023.
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Climate change: CDP A list confirmation of leadership, says Pirelli
Pirelli & C. SpA views its inclusion in CDP’s its Climate A list 2021 as confirmation that it is a “global leader in the fight against climate change.” It is one of just three tyre makers to gain a place on the international non-profit organisation’s list, the others being Bridgestone Corporation and Michelin Group.
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Hankook inaugurates Nürburgring Workshop
For many petrolheads, a lap of the Nürburgring is akin to a pilgrimage, and the circuit in Germany’s Eifel region is also a favourite site for performance car developers. Hankook Tire now has a presence in the neighbourhood, too. During a small ceremony held yesterday, the tyre maker officially opened the Nürburgring Workshop, a new branch office of its Hankook Europe Technical Centre (ETC).
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JK Tyre CFO: Margin improvement a top priority, exports up 96%
JK Tyre CFO Sanjeev Aggarwal is making margin improvement in the face of inflationary pressures a top priority, according to a recent interview with India’s Economic Times newspaper. And therefore the company will pass on raw material price increases to its customers.
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