International News
ExxonMobil opens Singapore butyl and resins plants
On 21 June 2018 ExxonMobil announced it had started production of hydrogenated hydrocarbon resin and halobutyl rubber at its integrated manufacturing complex in Singapore, the company’s largest integrated refining and petrochemical complex in the world. ExxonMobil’s new Escorez hydrogenated hydrocarbon resins plant will be the world’s largest with a capacity of 90,000 tonnes per year, and will meet long-term demand growth for hot-melt adhesives used in packaging or baby diapers. The new 140,000-tonnes-per-year butyl plant will produce premium halobutyl rubber used by manufacturers for tyres to better maintain inflation to improve fuel economy.
2017 – 2021 trailer registration growth forecast higher than any 5-year period ever
Clear International has just issued its latest forecast for the West European Trailer Market, which suggests that trailer registrations between 2017 and 2021 will grow at a faster five-year period than any other on record. Since the last report there has been a further improvement in the short term outlook for some West European economies. As a consequence, the forecast of a slowdown in demand for trailers in the region during 2018 has changed.
TireHub to start operations in July
The Goodyear Tire & Rubber Company (Goodyear) and Bridgestone Americas, Inc. (Bridgestone)’s TireHub LLC joint venture in passenger and light truck tyre distribution, will begin serving customers the first week of July. The joint venture received clearance from all required regulatory authorities earlier in June, enabling the creation of one of the largest national tyre distributors in the United States. The transaction is expected to close at the end of June.
Triangle mourns chairman Ding Yuhua
Ding Yuhua, Triangle Tyre’s chairman, died on 13 June 2018 at the age of 70. In addition to running the large Chinese tyre manufacturer, Ding Yuhua, was deputy to the 10th, 11th, 12th and 13th Chinese National People’s Congress, deputy to the 8th and 9th Shandong Provincial People’s Congress, member of Weihai People’s Congress Standing Committee and senior vice president of China Rubber Industry Association (CRIA).
VMI adds pallet lift to range
Tyre manufacturing equipment maker VMI has added a vertical pallet lift with high handling capacity to its product portfolio. The lift is for large batch-offs, mainly for the tyre industry.
Nokian increasing Finland tyre production 30%
Nokian Tyres is increasing production capacity for passenger car tyres at its Nokia, Finland factory by approximately 30 per cent.
Bridgestone investing 24 million euros in Spanish truck tyre plant
Bridgestone Corp. is investing 24 million euros ($28.2 million) in order to produce a new line of 24-inch radial truck tyres suited for on- and off-road applications at its Puente San Miguel, Spain, factory.
DuPont polymers to increase prices
Effective July 1, or as soon as contracts allow, DuPont Transportation & Advanced Polymers has announced that it will increase prices globally for the following products: DuPont Zytel and Zytel HTN.
Trump puts 25% import tariff on Chinese aircraft tyres
US president Donald Trump has announced plans to impose 25 per cent tariffs on US$50 billion worth of Chinese goods, according to various leading news sources. The tariffs affecting over 800 products including aircraft tyres and are due to come into effect on 6 July. The White House said it would consult on tariffs on the other $16 billion of products with a view to applying these later.
GKN Wheels invests in Danish plant
GKN Wheels and Structures is commissioning a brand new manufacturing cell at its plant in Nagbøl, Denmark. The programme will see the introduction of robotic technology, with the largest and fastest robot in Denmark being installed to improve both the company’s speed of manufacture and flexibility of production. On completion, the new manufacturing cell will be capable of producing very small batch sizes efficiently and cost-effectively, with changeover times brought down to an absolute minimum. Depending on customer’s specific requirements, the new production cell can also weld different valve guards and make a high spot mark.
ETRMA and other tyre manufacturing associations convene in Washington DC
Chief executives from regional tyre manufacturing associations including the European Tyre & Rubber Manufacturers’ Association (ETRMA), the Tire and Rubber Association of Canada (TRAC), the Japan Automobile Tyre Manufacturers Association, Inc. (JATMA), the Korean Tire Manufacturers Association (KOTMA), and the U.S. Tire Manufacturers Association (USTMA) convened a two-day meeting 5-6 June 2018 in Washington, DC. The goal was to discuss “issues of importance to the tyre manufacturing industry and the stakeholders it serves across the globe”. Major topics included industry commitments in sustainability and environmental stewardship, the comprehensive global regulatory landscape and a platform for increased dialogue.
Pirelli celebrates nation day with Italian ambassador and tricoloured tyres
On 6 June Pirelli celebrated the “Festa della Repubblica Italiana”, Italy’s National Day, with a special edition of its coloured tyres, produced expressly for the event in a special ‘tri-color’ edition. The tyre was donated during a ceremony at the Italian Embassy in London in the presence of the ambassador of Italy in the UK, Raffaele Trombetta and Victoria Trombetta.
European FinTyre Distribution buys Reifen Krieg
European FinTyre Distribution Limited (EfTD), one of the largest Pan European tyre distributors, has agreed to acquire the privately held Reifen Krieg Group, a leading full-range tyre wholesaler in Germany. As a result, EfTD is set to become the market leader in two key European countries, Germany and Italy, with 1.1 billion euros of total revenue. According to EfTD, Reifen Krieg’s current owners, Holger Krieg and Tobias Fink, will continue as the group's managing directors
Fischer-owner sells majority stake in tyre manufacturing machinery maker
Funds managed by Equistone Partners Europe have agreed to sell a majority stake in Karl Eugen Fischer, the world’s leading manufacturer of cord-cutting machines for the tyre industry. Equistone acquired Karl Eugen Fischer in August 2013 and is now selling its stake to DBAG Fund VII, managed by Deutsche Beteiligungs AG. Management will retain a shareholding in the company. The financial terms of the deal have not been disclosed.