Michelin to sell Russian factory to local tyre wholesaler
Despite initially planning to sell its Davydovo, Russia tyre production plant to the factory’s local management, Michelin is now in talks with Moscow-based Power International Shiny LLC. Michelin reportedly hopes to reach an agreement with the new buyers soon.
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Hankook Tire chairman arrested
On 9 March, Cho Hyun-bum, chairman of Hankook Tire, was arrested. The charges against him include illicit inter-affiliate trading, embezzlement and breach of trust. According to Yonhap News Agency, the amount involved in Cho Hyun-bum’s embezzlement and breach of trust may exceed 20 billion won (about £12.7 million; €14.3 million). It is reported that the Seoul Central District Court in South Korea issued an arrest warrant for Cho Hyun-bum in order to safeguard evidence after a court hearing on 8 March.
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Apollo Tyres MD: ‘Our emphasis is back on America’
10 years after Apollo Tyres’ bid to acquire Cooper Tire fell through, vice-chairman and managing director Neeraj Kanwar says the company is putting its emphasis on back on North America and even hinted at the goal of building a tyre production facility there.
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Continental “at an advanced stage of the sale” of Russia tyre factory
In June 2022, Nokian Tyres was the first tyre manufacturer to use the terms “controlled exit” to describe its withdrawal from operations in Russia. Now, Continental has joined them, with Conti CEO Nikolai Setzer using very similar language as part of the German tyre and automotive supplier’s full-year 2022 financial results presentation.
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Continental’s tyre division contributes 94.4 per cent to group EBIT
Following Continental’s mid-January preview of its key figures for the past financial year, the tyre and automotive supplier has officially released its 2022 full-year figures.
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NeroForce expands ‘AIR’ buffing blade range
NeroForce has expanded its range of buffing blades to a total of 20 different types with the introduction of the new “AIR” blades for Saturn III and R115 rasp heads. Over the past four years, NeroForce has established its position in retreading tools, especially in the buffing blade sector.
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Vipal exhibits at 68th OTR Tire Conference
In the USA, Vipal Rubber exhibited at the 68th Off-the-Road Tire Conference fair. Running between 22 and 25 February at the Hilton Tucson El Conquistador Golf & Tennis Resort in the city of Tucson, Arizona and organized by the Tire Industry Association, the OTR Tire Conference presents innovations from the off-road sector.
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Summer tyre prices up 23% since 2020 in Germany – Idealo
The average price of summer tyres in the German market has risen by 23 per cent in just two years. Idealo Internet GmbH told Tyrepress’s German sister site Reifenpresse, that the various crises and subsequent inflationary pressures have driven prices up. The average asking price for all summer tyres on Idealo’s comparison platform of the same name has increased from 99 euro (2020) to 108 euro (2021) to 122 euro last year. This corresponds to an increase of almost a quarter within just two years.
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SK Incheon Petrochem partnering LD Carbon tyre-derived oil project
SK Incheon Petrochem, a petrochemical wing of South Korean conglomerate SK Groups intermediate holding company SK Innovation, has made an equity investment into LD Carbon, uses pyrolysis to extract oil from end-of-life tyres. The news confirms earlier reports that LD Carbon was being backed a South Korean petrochemical firm.
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Sailun plans to launch OTR tyre project
On 2 March 2023 the Department of Industry and Information Technology of Shandong Province stated that it agreed to Zhucheng Yong’an Rubber Technology (Yong’an Rubber) to undergo a “capacity replacement” at its tyre production facility. The company in Zhucheng, Weifang, plans to dismantle the production capacity of 300,000 all-steel radial tyres and 5.46 million semi-steel radial tyres and launch a project with an annual output of 70,100 tons of OTR tyres. The Chinese government calls this behaviour “capacity replacement”, meaning that a company must withdraw its equivalent production capacity if it wants to build a new project. Tyrepress sister website, Tyrepress China notes that Yongan Rubber had undergone bankruptcy and reorganisation in 2020-21, having been acquired by Sailun.
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Giti relocates Hefei tyre factory
On 6 March, the authorities of Hefei City, Anhui Province, released reported that they they had reached a consensus with Giti headquarters on relocating the Hefei factory. The chairman of Giti Tire will go to Hefei soon to inspect the address of the new factory.
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Zodo Tire acquires Kaixuan Rubber
Zodo Tire recently acquired Kaixuan Rubber. An employee of Zodo Tire confirmed the acquisition to Tyrepress China but did not disclose the specific amount of the transaction.
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Federal signs off-take deal with Vietnam tyre factory
On 24 February, Federal signed an off-take agreement with Vietnam XT Tyre. According to the agreement between the two parties, XT Tyre will start to produce tyres for Federal in 2023 by Federal’s orders and production specifications. Federal did not disclose the details of the cooperation with XT Tyre, including the specifications and production capacity involved in the making the agreed products and the specific timetable for the collaboration between the two parties.
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Is Continental about to launch the AllSeasonContact 2?
At the end of last year, it emerged that Continental is planning to introduce a new car tyre this year. Because both Continental’s WinterContact TS 870 and WinterContact TS 870 P are young in terms of product cycle, and because the SportContact 7 and PremiumContact 7 are also new on the block, the new tyre is likely to be a successor to the AllSeasonContact. And our eagle-eyed German colleagues have once again found evidence that supports this theory.
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Continental launches TireTech truck and bus app
Continental has launched new software designed to support “fleet operators, dealers and service technicians in maximising the safety and efficiency of their tyres”. The new TireTech mobile app for truck and bus tyres, complements the existing version for agricultural tyres.
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