The longstanding collaboration between German oil manufacturer Liqui Moly and several partners of Autodistribution International (ADI) has now resulted in an official cooperation agreement being concluded with the umbrella organization. Both sides expect a significant boost in sales as a result. “We look forward to multiplying our success with ADI,” says Salvatore Coniglio, deputy export manager with Liqui Moly.
Abu Dhabi-based investor Mubadala Investment Company has Nexen Tire on its radar, and this has led to the signing of a Memorandum of Understanding between the two firms. According to Nexen Tire, the agreement its chief executive officer Travis (Ho-chan) Kang formalised yesterday with Khaldoon Khalifa Al Mubarak, Mubadala’s managing director and group chief executive officer, sets out ways and means for both parties to “explore strategic partnership opportunities.” Mubadala has directly invested into Nexen as part of the agreement, however so far the tyre maker hasn’t disclosed the extent of this investment.
A new agreement between Continental AG and Caterpillar Inc. will see the tyre maker equip the 770 to 775 model series of Cat off-highway trucks with Continental RDT-Master tyres in sizes 18.00R33, 21.00R33 and 24.00R35. The agreement also covers a collaboration between the two companies for the design of new tyres for two other Cat products – medium wheel loaders and articulated dump trucks.
An agreement signed between Goodyear and the Luxembourg Institute of Science & Technology (LIST) yesterday at the tyre maker’s Goodyear Innovation Center in Colmar-berg, Luxembourg will see the two parties focus upon investments in sustainable mobility and next-generation materials. Specifically, Goodyear engineers will collaborate with LIST in order to make tyres more environmentally friendly in regards to materials as well as their production and performance.
Michelin aims to increase the flexibility and competitiveness of its tyre factories in France, and French media outlets report that two of the unions representing the company’s La Roche-sur-Yon plant have signed the tyre maker’s ‘Skipper 360’ agreement, which aims to safeguard the facility’s future through the introduction of greater flexibility into how workers’ shifts are arranged.
Bridgestone Corporation has become a Tokyo 2020 Paralympic Gold Partner after concluding an agreement with the Tokyo Organising Committee of the Olympic and Paralympic Games. In addition, the company will support Japan’s national Paralympic team, starting this year with the Rio 2016 Paralympic Games and covering both the PyeongChang 2018 Paralympic Winter Games in South Korea and the Tokyo 2020 Paralympic Games.
As part of its activities to develop a new generation of tyres based upon the concept of “total safety,” Pirelli is undertaking a two-year research and development project that aims to optimise the conception and planning of new products. The name of this project is Total Safety System. Pirelli says it is investing a total of €5.35 million in the project, which is being carried out at its Milan headquarters’ R&D facility, and the work will be supported by the Lombardy regional government through a €1.9 million grant. The grant was formalised through the signing of a competitiveness agreement between the Lombardy regional government and Pirelli on 9 February.
As of May 2015 Marangoni Spa entered into a partnership deal with Al Shirawi Enterprises that sees the latter become exclusive distributor for the Marangoni brand of industrial tyres in Dubai and the wider United Arab Emirates (UAE). During his recent visit to Dubai, Adam Dudas-Smith, export area manager for Marangoni Industrial Tyres, announced that Al Shirawi Enterprises had shown a big commitment to the Marangoni brand since taking on a non-exclusive dealership role for Dubai and UAE.
Executives at Pelmar Engineering Group (Pelmar) have confirmed that a disagreement between the company and Tianjin Saixiang Technology Co. Ltd. (TST) has been resolved. Pelmar’s executive chairman Jacob Peled told Tyres & Accessories that “the conflict between TST and Pelmar has ended in an amicable settlement”. The resolution appears to have occurred after TST met its obligations towards Pelmar. As a result Pelmar cancelled the lawsuit it brought against TST in the Tianjin Court. In addition, it was also agreed that the two companies will resume their business relations and will continue to cooperate as before.
Collaboration between Yokohama Rubber and Kumho Tire will become even closer following the signing of a cooperative research and development agreement and a license and technology exchange agreement on 31 May. The agreements are based on the master technological alliance agreement signed by the two companies on 15 February, an agreement that in turn followed the signing of a Memorandum of Understanding on 29 November 2013. Under this latest agreement, Yokohama Rubber and Kumho Tire will begin joint research and development on new tyre-related technologies, including ultra lightweight tyres and other environmentally friendly tyre technologies, as well as new concept tyres.
When it comes to racially-weighted remarks catching up with public figures, this has been quite a week. Jeremy Clarkson has issued an apology for his mumbled ‘N-word’, and on the other side of the Atlantic Donald Sterling has received a lifetime ban from the NBA for discriminatory comments. Following the decision to bar Los Angeles Clippers owner Sterling from any association with the basketball team or the NBA, Yokohama Tire Corporation has reached an agreement on its Clippers sponsorship.
Michelin says it has implemented a partial share buyback scheme and under this will acquire up to one million Compagnie Générale des Établissements Michelin shares. The company says it has “called on the assistance of an Investment Services Provider to meet certain objectives” of the share buyback programme authorised at Michelin’s Annual Shareholders Meeting on 17 May 2013.
The US Justice Department indicted one Bridgestone Corporation executive and two former officials for conspiring to fix the prices of certain automotive parts, reports Tire Review. Bridgestone itself agreed in February to plead guilty to price-fixing, paying a $425 million criminal fine. The case involves anti-vibration parts used in automotive suspension systems and engine mounts.