In October 2022, Goodyear announced that the Cooper Tire Europe headquarters and manufacturing operation was set to close around a year later. In November 2023, the land associated with the tyre plant went up for sale in parallel with plans to redevelop the site into residential premises.
Orion S.A. has celebrated the completion of its first greenfield project – a carbon black plant in eastern China that will supply fast-growing demand in Asia. The facility in the city of Huaibei in Anhui province will produce carbon black for a variety of applications, including rubber, polymers and fibres. The site’s two production lines have a total capacity of 70 kilotons per year.
The Saudi Arabian Public Investment Fund (PIF) and Pirelli Tyre S.P.A signed a joint venture (JV) agreement to build a tyre factory in Saudi Arabia. PIF will hold a 75 per cent stake in the JV with Pirelli holding the remaining 25 per cent and acting as “a strategic technology partner” offering both “technical and commercial assistance”. The plant is expected to start production in 2026.
On 21 October, Sentury said it had officially started constructing its tyre factory in Morocco. On 25 October, the tyremaker said it would add $193 million to its Morocco plant for 6 million semi-radial tyre production capacity. Sentury classified the additional investment as the second phase of the Moroccan tyre factory project. In other words, the total investment in Sentury’s Morocco factory has become US$490 million. After both projects are put into production, it will be able to produce 12 million semi-steel radial tyres annually.
Tyrepress China has learned that the second phase of the Pakistan tyre factory Service Long March (SLM) will be completed and put into production before the end of 2024. The factory is a joint venture between Chaoyang Long March and Pakistan-based Service Industries Limited. Information shows that the total investment in the SLM factory is US$250 million, with Chaoyang Long March accounting for 44 per cent.
Susanna Tusa has been appointed general director and vice president of Nokian Tyres Romania Operations. She will also lead the Oradea, Romania factory project. The factory is scheduled to produce its first tyres in the second half of 2024. Commercial tyre production is set to start in early 2025.
Plans for two Saudi Arabia tyre factory projects were announced during 2022. In January 2022, Black Arrow Tire Company (Blatco) agreed to a tyre factory construction joint venture with Kumho. By June 2022, Kingdom Tyres, which describes itself as Saudi’s largest tyre producer, signed a provisional investment agreement with the Royal Commission for Jubail & Yanbu. Here Tyres & Accessories considers the latest developments with both projects and asks if the market is big enough for both factories?
Roughly a year ago, then relatively-newly appointed Yokohama Europe president Gregorio Borgo, told us that the company has plans to invest in a factory “at the heart of Europe”. 12 months on, Tyres & Accessories once again spoke with Gregorio Borgo as well as Yokohama Europe chairman Hiroyuki Shiori in order to find out how the company’s growth and its interconnected factory plans have been progressing.
Tyrepress China has learned that Chinese tyre manufacturer Haohua is preparing to invest US$500 million to build a tyre factory in Binh Phuoc, Vietnam. The products produced will cover semi-steel radial tyres and all-steel radial tyres.
BKT has recommenced operations at its Bhuj facility in India after shutting down the plant on the evening of 13 June. Production stopped in Bhuj as a precautionary measure related to Cyclone Biparjoy, which hit the Gujarat coast late last Thursday.
Taiwanese tyre manufacturer Hwa Fong Rubber has sold the land and facilities of its subsidiary Hwa Fong Rubber (Suzhou), located in Changshu City, Jiangsu Province, China, to Changshu Economic Development Zone Construction Development Co., Ltd. for 276 million yuan, reports Tyrepress China. The company said the deal could help it save management costs, revitalise assets and enrich working capital. The total size of the land sold is 184,222 square meters, while the facilities cover 110,786.45 square meters. Hwa Fong Rubber will carry out relocation work in the future.
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.
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.
Petlas will invest $360 million in the construction of a new light vehicle tyre production facility adjacent to the Turkish company’s existing plant in Kırşehir. The new production line will produce 100,000 tons of tyres for passenger cars and light commercial vehicles, increasing the manufacturer’s total capacity by 42 per cent, reaching 340,000 tons. It will create around 1,850 new roles. Petlas expects to break ground on the new factory in 2023, with completion slated for 2024-25.