Bridgestone honoured for investments in Poland
English-language Polish weekly the Warsaw Business Journal has honoured Bridgestone with an ‘Investment of the Year’ award. The financial publication chose Bridgestone as one of three recipients due to the funds ploughed of late into its Poznań and Stargard Szczeciński plants.
Continue ReadingCeat approves funds for new tyre factory
At a meeting on 30 October, the Board of Directors of Indian tyre maker Ceat Ltd approved an Rs 4,200 billion (£43 million) investment to set up a new plant for producing tyres for two and three-wheeled vehicles. This planned facility is expected to have a daily capacity of 120 tonnes. It is understood that the facility will be built in the city of Nagpur, Maharashtra State, rather than in Karnataka State as originally planned.
Continue ReadingMichelin releases ‘Green Paper’ on sustainable mobility
At this year’s Michelin Challenge Bibendum, currently taking place in Chengdu, China, the tyre maker has introduced its so-called ‘Green Paper’, a document on sustainable mobility that contains key proposals to meet the challenges tomorrow may bring. The Green Paper includes a number of recommendations based on lessons learned during the 11 previous Michelin Challenge Bibendum events and the collaborative work of institutions and event partners.
Continue Reading6.1MW solar plant inaugurated at Continental tyre factory
The solar photovoltaic power station project at Continental’s tyre plant in Hefei, China was officially inaugurated yesterday at a ceremony attended by local government representatives and by Stephan Weil, prime minister of Continental’s home region of Lower Saxony, Germany. Representing the tyre maker at the event was Dr Ralf Cramer, member of Continental’s Executive Board and CEO of Continental China, and Michael Egner, general manager of the Continental site in Hefei. The solar project is being jointly implemented by Continental and HeFei SuMeiDa Sungrow Power Co., Ltd.
Continue ReadingSerbia open for business
With Cooper, Mitas and most recently Michelin all upping production capacity in Serbia, you can understand the Serbs have invested in communicating the benefits of locating tyre production in the area during the course of 2014. But that’s not all. They have also invested in travelling all the way to Grungrao, Shandong provice, China in order to court the attentions of up-and-coming Chinese tyre manufacturers too.
Continue ReadingMarangoni, Tatneft to establish Russia retreading JV
Marangoni and Tatneft Group have agreed to form a retreading joint venture in Russia. Based in Nizhnekamsk, Republic of Tatarstan, the joint venture to retread all steel truck tyres will operate as KaMaRetread LLC and is expected to commence operations in the first half of 2015. Trading house Kama, a wholly owned subsidiary of Tatneft, will own 65 per cent, while Marangoni SpA will own the remaining 35 per cent. Tatneft is the owner of Nizhnekamskshina, which recently reached the milestone of two million all-steel radial truck tyres produced by its Nizhnekamsk factory.
Continue ReadingTrelleborg to livestream Tractor of the Year 2015 from EIMA exhibition
Trelleborg has announced that it will stream the Tractor of the Year 2015 awards ceremony live on the Trelleborg Wheel Systems website and on the Trelleborg stand at leading agricultural exhibition, EIMA International 2014 in Bologna, Italy today (12 November).
Continue ReadingAnalysts: Cooper 3Q results surprise, but shares fall
Shares of Cooper Tire & Rubber Co. fell 1.9 per cent on 7 November following news that the company’s earnings in the third quarter of 2014 increased to 77 cents from breakeven earnings in the prior-year quarter. The latter figure is significant because it exceeded certain analysts’ estimates. For example the Zacks Consensus Estimate of 72 cents was some five cents below the actual results.
Continue ReadingTyrexpo Asia 2015 registration opens
Registration for Tyrexpo Asia 2015 has now opened. Tyrexpo Asia has come some way since the inaugural show in 1996. As Asia’s longest established tyre industry event, Tyrexpo Asia has grown steadily in size and popularity during this period.
Continue ReadingA.C. Milan players dribble from the rooftops with Toyo Tire
Four players from Italian football club A.C. Milan race against an Audi R8 through the team’s hometown in a new video released by Japanese tyre maker Toyo Tire & Rubber. The two-minute promotional video features Riccardo Montolivo, Jérémy Ménez, Adil Rami and Keisuke Honda from A.C. Milan competing against the enthusiastically-driven R8 in a city alley race, and Toyo promises a ‘surprise ending’ when the Stig-like character behind the wheel of the Audi finally removes his helmet. The video is available to view below.
Continue ReadingBridgestone confirms move ‘downtown’
Reports published yesterday on Bridgestone Americas’ upcoming move to a new headquarters have been confirmed by the tyre maker. In a statement, the Bridgestone subsidiary said it will move its headquarters to downtown Nashville following the completion of its new facility in mid-to-late 2017. The new headquarters will house more than 1,700 employees – 1,100 currently based in Nashville and 600 more jobs from three out-of state business units that are being relocated to the city.
Continue ReadingBridgestone US HQ to move to Nashville, TN – reports
US journal Tire Review has reported that Bridgestone will move its nearly 1,000-person US headquarters to Nashville, following reports that the tyre-maker was looking for a new home in the country earlier this year. Citing a reported formal groundbreaking ceremony in local paper The Tennessean, Tire Review says a new office tower will house the HQ; constructed by Highwoods […]
Continue ReadingGroundbreaking held for Federal Tyres’ newest factory
At a ceremony attended by local government officials, senior management and international customers, last month Federal Tyres formally broke ground on its third tyre plant in Taiwan. The new facility is being erected on a 14,000 square metre site in the Taoyuan Industrial Park, and the NT$8.1 billion (£166.7 million) investment will be completed in two phases between 2014 and 2020; once the plant is fully operational, it will create 836 jobs and produce an estimated maximum of six million tyres a year.
Continue ReadingTyre innovations yield SRI ‘Top 100 Global Innovator’ recognition
Upon releasing its 2014 Top 100 Global Innovators list on 6 November, Thomson Reuters commented that its top 100 most innovative companies achieved nearly double the 6.85 per cent annual revenue growth rate of S&P 500 firms while increasing their research and development budgets by an average of 17 per cent year-on-year. One familiar tyre industry name on this list of worthies was Sumitomo Rubber Industries; the company views its inclusion on this year’s list as “further evidence of the great acclaim that we have earned for these and other innovative research and development efforts.” This is the second Top 100 appearance for Sumitomo Rubber Industries in the four years the list has been published – Thomson Reuters also chose to include the company in 2011.
Continue ReadingSouth African commission evaluating Apollo restructuring plan
As reported on 17 September, Apollo Tyres’ South African subsidiary, Apollo Tyres Africa Proprietary Limited – the residual operation remaining after the sale of the main business to Sumitomo Rubber Industries in 2013 – voluntarily initiated Business Rescue Proceedings on 15 September 2014 as per the provisions of the South Africa Companies Act. In its second quarter notes, The company has now submitted a Business Rescue Plan to the South African Companies and Intellectual Property Commission (CIPC).
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