Tag: industrial tyres
Bridgestone to show ‘world’s largest’ 4m tyre at Bauma 2019
Bridgestone will return to construction and mining trade fair Bauma in 2019, presenting a selection of tyres, industrial products and targeted solutions developed for the industry. Bridgestone produces tyres for the world’s largest mining trucks, and will display one of these four-metre-tall tyres, the largest in the world, on its stand, alongside several new products.
Titan International closes RDIF put option transaction
On 22 February, Titan International Inc. closed the previously-announced transaction with an affiliate of the Russian Direct Investment Fund (RDIF), one of the three shareholders of Voltyre-Prom. Under the terms of a definitive agreement entered into on 11 February, Titan paid RDIF US$25 million in cash and agreed, subject to the completion of regulatory approval, to issue RDIF 4,032,259 shares of restricted Titan common stock in a private placement. The agreement stipulates that RDIF must hold these shares for a period of three years from the date of the agreement.
Trelleborg Wheel Systems increases prices 3-5% across product range
Trelleborg Wheel Systems has announced a price increase of three to five per cent on its product range. The price increase will be effective from the first quarter of 2019, and will be applied globally to all brands in the Trelleborg Wheel Systems product portfolio. The manufacturer said the price increase has been driven by inflation and rising energy and labour costs.
GRI celebrates factory anniversary by launching 100 new sizes
On 25 January 2019 GRI celebrated the first anniversary of the opening of its specialty tyre manufacturing facility, with the release of over 100 tyre sizes.
Titan receives additional settlement put option notice
Titan International, Inc. has received an additional settlement put option notice From OEP 11 COÖPERATIEF U.A. (OEP), an affiliate of One Equity Partners, one of the three shareholders of Voltyre-Prom, of its exercise, effective 8 January 2019, of the settlement put option with respect to its holdings in Voltyre-Prom, pursuant to the Voltyre-Prom Shareholders' Agreement.
Voltyre-Prom: Key shareholder announces aim to sell stake in tyre maker
The Russian Direct Investment Fund (RDIF) has informed Titan International of its wish to relinquish its shareholding in agricultural and industrial tyre manufacturer Voltyre-Prom. The Kremlin-backed sovereign wealth fund, which acquired the tyre maker together with Titan and private equity firm One Equity Partner in 2013, shared its intention via its exercise on 14 November of the settlement put option included within the Voltyre-Prom Shareholders’ Agreement.
Magna launches MA02 for scrapers and graders
Magna Tyres Group has launched the Magna MA02 Scraper. According to the company, this tyre is explicitly designed for scrapers and graders and will make the groundwork for all your projects as effortlessly as it possible can be.
GRI launches new website
GRI has launched a new website featuring improved menu functionality and a responsive layout, making it easier to navigate on a wide range of web browsers and multiple devices.
US puts 10% import tariffs on all Chinese tyres
The Trump administration upped the ante once again in the ongoing trade war between the USA and China on 18 September with the introduction of tariffs on all US$200 billion of imports including basically all categories of tyres, retreads and inner tubes. At President Trump’s direction the additional tariffs will initially be set at 10 per cent and will take effect on 24 September 2018. However, as of 1 January 2019, the level of additional tariffs will increase to 25 per cent.
RH Claydon buys Unity Tyre stock and assets
East of England-based tyre wholesaler RH Claydon has expanded its business with the acquisition of agricultural, industrial and specialist tyre wholesaler Unity Tyre.
Snow-orientated STARCO Alptrak becomes desert tyre
The first STARCO Alptrak released 10 years ago was designed for traction on turf and other terrain. Back then, nobody had foreseen that this pattern would be later tested for the Saudi Arabian market, together with STARCO’s key customer Avant Tecno. Both jointly developed the Alptrak for desert use. “Our machines are initially not designed for sandy conditions like in Saudi Arabia. However, we have learned that by adjusting the wheel and tyre solution, we can make our multipurpose loaders perform just as well in sandy conditions, as they do in snow, mud or on dry surfaces,” explains Raul Tsili, Purchasing Manager at Avant Tecno.
GRI extends First Industrial Tyres partnership
GRI has been in partnership with First Industrial Tyres (FIT) for over 10 years where the two companies have worked together in the aftermarket distribution of GRI material handling tyres in the UK. Now that FIT has expanded into Eire with operations in Dublin, so has the GRI distribution deal.
Reports: Michelin’s Camso takeover includes Loadstar
Loadstar was founded by a Belgian investor and Jinasena, a Colombo-based engineering group. The firm has a plant in Ekala, north of Sri Lanka's capital Colombo. The business was renamed Camso Loadstar in 2015.
Camso takes the shock out of non-marking tyres
It was the threat of a spark that sparked an ingenious solution. During an on-site customer visit some three years ago, a team from Camso observed a problem plaguing the materials handling industry – and realised they already possessed a potential solution. This solution is now on the market, and Camso considers it a game-changer.
GRI appoints new chairman and CEO
GRI Tires has announced the appointment of a new chairman and a new CEO. Harris Premaratne was appointed as GRI’s chairman with effect from the 29 March 2018. A veteran banker, Premaratne’s appointment is intended to help take GRI to a “leading position amongst global specialty tyre manufactures”.