TBC Corporation sells 595 NTB and Tire Kingdom centres to Mavis
TBC Corporation, a leading tyre distributor in North America, has agreed to sell its company-owned retail portfolio to Mavis Tire Express Services Corp. Specifically, Mavis will acquire 392 NTB Tire and Service Centers (NTB) and 203 Tire Kingdom Service Centers (Tire Kingdom). In connection with the deal, Mavis and TBC have entered into a distribution agreement, through which TBC will provide wholesale and tyre distribution for Mavis retail locations. The transaction is expected to close in the coming weeks. Financial terms of the transaction have not been disclosed.
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Airless two-wheel tyremaker Risingsun lists on stock market
On May 16, Risingsun, a Chinese manufacturer of air-free tyres, was listed on the National Equities Exchange and Quotations (NEEQ). The move means the company’s shares can be publicly traded.
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CL Tyres buys Fork Truck Tyres
Fast-growing industrial tyres business, CL Tyres Ltd has bought Fork Truck Tyres Ltd. Founded in July 2019 by Steve Donnithorne, CL Tyres Ltd experienced 10-fold growth in its first three years of business. The acquisition of Manchester-based Fork Truck Tyres by Midlands-based CL Tyres, which also runs centres in locations including Hull and Washington, suggests a national expansion plan.
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Michelin buys Canopy Simulations for its ‘virtual driver’ technology
Michelin has bought UK-based simulation software specialist Canopy Simulations for an undisclosed fee. Since Michelin has been developing dynamic virtual tyre models for the last couple of decades using its Tame Tire software, it appears the plan is to combine Canopy’s “virtual driver” with Tame Tire, taking Michelin’s virtual modelling to the next level.
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Bandag launches Hotread mould-cured retreaded tyre range
In a significant development building on the retreading brand’s pre-cure heritage, Bridgestone-owned Bandag is expanding its portfolio of mould-cured retread activities with the launch of Bandag Hotread.
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GB Tyres constructing “one of the largest stockholdings in Europe” with new Oldbury site
Fast-growing tyre wholesaler, GB Tyres, has begun construction of its new Oldbury tyre “storage and distribution facility”. As we reported back in September 2022, despite existing storage space of roughly 250,000 square feet across two large sites in the midlands the business requires much more space.
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Shandong-EU tyre exports maintain high growth rate
Tyrepress China learned that China’s Shandong Province exported 75.419 million new pneumatic rubber tyres in the first quarter, an increase of 11.1% over the same period last year. The total export value was 19.45 billion yuan, a year-on-year increase of 17.6%; the average export price was 257.9 yuan per tyre, a rise of 5.8%.
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Mitas continues Red Bull Erzbergrodeo partnership
Mitas will continue its partnership with the Red Bull Erzbergrodeo extreme enduro event, including the exciting Mitas Rocket Ride and exclusive tyre sales and service at the race site.
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Jiangsu General’s Cambodia tyre plant officially starts production
On 22 May, General Tires Technology (Cambodia) held its opening ceremony, which means Jiangsu General’s second overseas production base has officially begun operation. Cambodian Prime Minister Hun Sen and Chinese Ambassador to Cambodia Wang Wentian attended the ceremony and cut the ribbon for the Jiangsu General Cambodia factory.
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Automechanika Birmingham just weeks away
With about a fortnight to go until it opens its doors once more, Automechanika Birmingham – hosted from 6th – 8th June at the NEC – has given visitors a flavour of what’s to come at this year’s highly anticipated show, launching its official event preview.
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Nexen considering US$1 billion US tyre factory
Nexen Tire is considering eight southeastern US states as the possible location for a new $1.3-billion tyre factory project. According to stock market filing published on 18 May, Nexen is set to make a decision on the project by the end of 2023, with a view to getting the factory operational by 2028-2029.
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Continental sells Kaluga, Russia tyre factory to S8 Capital
On 22 May, Continental confirmed that it has sold its tyre factory in Kaluga, Russia, to Russian company S8 Capital. That means Continental has now divested the majority of its activities in Russia as part of its aforementioned “controlled withdrawal”. The transaction has been approved by the relevant authorities. Continental and S8 have agreed that employees will be taken over as part of the sales contract. No price details have been disclosed.
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Continental debuts AllSeasonContact 2
Continental presented its second generation all-season tyre at an event in Austria. Tyrepress was there and will report on this at a later date, but the headline is generational performance improvements in almost all areas. AllSeasonContact 2 comes to market in a launch range of 99 sizes and will be available in the UK from July.
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HiQ Sheffield a recent addition
HiQ Sheffield is a relatively recent addition to the HiQ network. The HiQ Tyres & Autocare Sheffield team joined the franchise network in October 2022 when manager George Snelling and his close family took on a new venture to start their Autocare business from scratch following the pandemic.
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USA: Groundbreaking held for Bandag Abilene plant expansion
On 16 May, Bridgestone Americas held a groundbreaking ceremony to mark the start of work to expand its Bridgestone Bandag, LLC manufacturing plant in Abilene, Texas. The US$60 million project will increase the facility’s floorspace by 50,000 square feet and meet growing demand for the company’s tread rubber products, with operations at the expanded plant scheduled to fun on six and seven-day production schedules.
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