ContiTech acquires Australian mining industry firm
ContiTech, Continental’s rubber and plastics technology division, has further expanded its global activities in the mining and raw materials industry through its Conveyor Belt Group’s acquisition of Australian trade company M.I.R.S. (Mining Industrial Resource Supplies). The agreement to purchase the Perth-based company was made on July 12 and backdated to July 1, 2011. Both sides have agreed not to disclose the purchase price.
Continue ReadingBridgestone announces online F1 Heritage contest
Pirelli may be top tyre dog in Formula One these days, but Bridgestone’s 14 years as supplier to the championship have not been forgotten. Those wishing to recall the Japanese manufacturer’s Formula One glory days may well be interested in entering into Bridgestone Europe’s F1 Heritage Contest – a celebration of 14 years, 11 Drivers’ and Constructors’ championships, 175 race victories, 168 poles and 170 fastest laps.
Continue ReadingHankook reports “positive feedback” following e-cube truck tyre launch
Hankook reports that it has received “positive feedback from many blue chip fleets” following the introduction of the e-cube fuel efficiency orientated commercial vehicle tyre range. The e-cube, which was launched in the UK at the end of 2009, is designed to offer low rolling resistance, long mileage and good retreading capability. According to the company, the e-cube also boasts green credentials courtesy of “lower hazardous materials and low rolling noise.” Since its launch it has been trialled by many of the company’s customers and has successfully built a solid reputation for superior quality and value for money. “In today’s market fleets are constantly looking to lower their transport costs. Hankook appreciates the emphasis placed on this and the need to invest in the development of quality products that also incorporate essential environmental credentials. This led to the introduction of the e-cube commercial vehicle tyre range which we are proud to report is proving popular amongst our customers,” said Tony Lee, managing director of Hankook UK.
Continue ReadingEasy Tyres & Autocentres refurbishes two with £40,000 investment
Easy Tyres & Autocentres, the largest of HiQ’s franchisees, has invested £40,000 on extensive refurbishments to its Peterborough and Stratford branches. The stores, based in Bourges Boulevard and Western Road respectively, have seen considerable increases in footfall, according to Easy managing director Chris Kisby, having implemented HiQ’s network-wide strategies for improving the retail environment.
Continue ReadingToyo USA signs Georgia bond deal to expand plant
Toyo Tire North America has signed a deal with the state of Georgia and Bartow County to help expand the county’s bonding capacity and Toyo’s Georgia plant, reports Tire Review. The $910 million bond deal will add 470 new jobs to the plant, which first opened in 2006. Georgia governor Nathan Deal, Toyo Tire North America Manufacturing president Jim Hawk and James Jarrett, chairman of the Bartow-Cartersville Joint Development Authority signed the deal at a press conference on 12 July.
Continue ReadingBKT expands North American range
BKT Tire (USA) has added four new products to its agricultural range and a go-kart tyre in the USA and Canada, reports Tire Review. The two new tyres to the market are the BKT TF 9090, which was created for front axle fitment on tractors. It has three ribs for increased traction and stability on wet soil, according to the manufacturer, and is available in size 4.00-12. The SM 68 is a new go-kart line available in size 11x6.0-5.
Continue ReadingMichelin’s Chennai training centre gets underway
On July 15 the very first course will commence at the new Michelin Training Centre at the tyre maker’s Chennai site. The centre, which officially opened on May 30, has been set up to improve the employability of people in the local area; the first course held there will impart English language skills, and other courses, including computer skills, accounting and vocational programmes, are already planned. The Michelin Training Centre is located within the Thervoy Kandigai Industrial Park in Chennai’s Thiruvallur district, where the Michelin is investing Rs 40 billion (£560 million) in a truck and bus tyre facility.
Continue ReadingKeyuan notified of NASDAQ delisting
Despite being informed that Keyuan Petrochemicals’ stock may be delisted from the NASDAQ, company chairman and CEO Chungfeng Tao states demand for its products “remains strong”. The Chinese petrochemical product manufacturer disclosed on July 11 that it received a letter from the NASDAQ regarding a delisting of its stock based on a review of the company and pursuant to NASDAQ Listing Rule 5101 and Listing Rule 5250 (c)(1). Keyuan says it has requested a hearing to appeal this decision and adds that its management is “working diligently with all relevant authorities to regain compliance with its regulatory requirements.”
Continue ReadingAverage car 15 per cent greener than 5 years ago
Research by The Society of Motor Manufacturers and Traders SMMT shows that the average new car emits 15 per cent less CO2 than five years ago. The data also shows that Greater London and the North West saw a fall in the number of registered cars over the last five years. Meanwhile the figures highlighted that proportionally Plymouth has the fewest low-carbon cars, while Leeds is the pinkest town in the UK.
Continue ReadingTyre production a man’s job – in Saudi Arabia
Women in Saudi Arabia are now excluded from working in tyre manufacturing jobs following the release of a list of over 20 jobs deemed unsuitable by the country’s Ministry of Labour. Job number ten on the list compiled by labour minister Adel Fakeih is “Working in the rubber industry for making tyres,” and at a press conference Fakeih claimed the aim is to prevent women from working in jobs they may not be physically suited to undertake. “The Saudi woman has every right to work,” Fakeih stated. “We are only implementing regulations that will protect her and ensure her rights.”
Continue ReadingGITI arranging US$225 million loan
Six banks have reportedly agreed to support a Deutsche Bank-arranged US$225 million 3.5-year term loan for China’s GITI Tire. According to Thompson Reuters’ ifre.com website, unnamed banking sources shared the information with the publication. No details of what the loan is intended for have yet been released, but it looks likely to be a refinancing tool. GITI has not officially commented on the reports.
Continue ReadingPirelli raises £6,386 for Children’s Hospital
Pirelli has donated items to a charity auction and held a donation-based simulator experience on its stand at Silverstone’s British Grand Prix, raising £6,386 for the Great Ormond Street Hospital Children’s Charity. The auction was held on Wednesday 6 July at the F1 Party held at London’s Natural History Museum for the hospital’s Heart and Lung Centre, and Pirelli donated, among other things, a wind tunnel tyre signed by Britain’s last two Formula One World Champions: Jenson Button and Lewis Hamilton. Red Bull principal Christian Horner, BBC F1 presenter Jake Humphrey and man about town Vernon Kay were among those in attendance.
Continue ReadingGoodyear acknowledged for blood donation, water safety programmes
Goodyear is well known for its tyres, yet more than a few people may be surprised to learn that the company has also been involved in the blood donation business for almost six decades. Since 1952, workers at the US-based firm’s headquarters have donated a total of 182,663 pints of blood – that’s 86,431 litres – for use at local hospitals. These employee donations have benefitted 547,989 patients over the years, and Goodyear’s long-term dedication to blood donation has now earned the company the “2010 Top Corporate Blood Donor Award” from Northern Ohio Red Cross Blood Services. The award was recently presented to Goodyear chief health officer Brent Pawlecki.
Continue ReadingNew Michelin credit facility “in line” with debt refinancing strategy
On July 12 Compagnie Financière Michelin, a fully-owned Michelin subsidiary, signed a new credit facility to be used for general corporate purposes. This 1.5 billion euro multi-currency revolving credit facility, signed with a group of 21 banks, is intended to replace Michelin’s 2005-2012 1.5 billion euro syndicated line. Michelin states the new facility is “in line with the Group’s debt refinancing strategy.”
Continue ReadingETRMA: 96% of European used tyres treated in 2010
European Tyre and Rubber Manufacturers’ Association (ETRMA) has published data showing that the recovery rate of used tyres (UT) in Europe grew to 96 per cent in 2010. According to the association, this high recovery level is at the top of all waste streams. In the last decade, tyre industry, dealers and ELT operators have substantially improved ELT utilization. Europe has built up a real experience of three types of ELT management schemes: The tax model, although very limited; free market model and producer responsibility model. ETRMA’s view is that the rapid improvement of the performance of ELT management has been reached “through a sustained deployment of the producer responsibility model in the past decade.” However those operating under the free market model in the UK, which according to the ETRMA’s own figures produces outcomes, which at 98 per cent are 2 percentage points better than the European average, may disagree with this analysis.
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