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MTPGKN Wheels reports 300% increase in wheel output at Telford factory
GKNGKN Wheels’ multi-million-pound investment programme at its Telford factory has resulted in the achievement of record targets. Despite a number of obstacles, not least the impact Coronavirus pandemic has had on the plant’s operational capabilities, the new manufacturing plant is now producing more than three times as many wheels as the old plant, with 55 high-quality off-highway wheels now being manufactured every hour. With the new line now fully operational, the old lines and assembly cells have now been decommissioned and disposed of.
BASF invests 16 million euros into Pyrum waste tyre oil recovery
BASFBASF SE has announced that it is investing 16 million euros into Pyrum Innovations AG, a technology company specialized in the pyrolysis of waste tyres, headquartered in Dillingen/Saar, Germany. With the investment, BASF will support the expansion of Pyrum’s pyrolysis plant in Dillingen and the further roll out of the technology. BASF’s Pyrum investment follows the company’s partnership with New Energy, a similar tyre-derived oil project based in Budapest, Hungary at the start of September 2020.
Guizhou Tyre raises 1 billion yuan for Vietnam tyre factory in private share issue
Guizhou TyreOn 4 September 2020 Guizhou Tyre Co. Ltd’s board of directors approved plans for a private share issue. The plan was to raise 1 billion yuan in funding via the sale of now more than 200 million shares to 35 selected investors. By 11 September, the company had received the green light from the state-funded Guiyang Industrial Investment Holding Group Co., Ltd. that it would purchase no less than 43.5 per cent of the issued shares.
Toyo given free land as part of 364 million euro Serbia tyre factory investment
The Serbian state is set to give Japanese tyre manufacturer Toyo 637,455 square metres of land worth roughly 3 million euros for its newest factory. According to a Serbian State Aid Control Commission decision, the countries Tax Administration calculated that – based on a land valuation of 5 euros per square metre, Toyo will have to employ 523 workers indefinitely by 2023.
Bush Tyres opening two retail sites and a new warehouse
Silksheen Photo, Bush TyresBush Tyres is set to open three new locations during the next couple of weeks. First off, the company is opening retail centres in Norwich and Immingham. In addition, Bush Tyres has invested in a new 70,000 square foot warehouse as well.
Yokohama investing US$165 million in new India OTR tyre factory
ATG, YokohamaThe Yokohama Rubber Co., Ltd. is set to build a new plant at Atchutapuram Industrial Park, Visakhapatnam, Andhra Pradesh, India to expand ATG’s (Alliance Tire Group) tyre production capacity. The new plant will have a daily production capacity of 55 tons (rubber weight), with planned capital investment totalling US$165 million. Construction will start in the third quarter of 2020 and the new plant is scheduled to come on line in the first quarter of 2023.
Sentury Tire joins the Shenzen Stock Exchange
Having received approval back in June, Qingdao Sentury Tire has successfully completed its Initial Public Offering (IPO) and is now listed on the Shenzhen Stock Exchange (China) as of 11 September 2020. 11 per cent of the company’s shares were valued at 1.31 billion yuan (162 million euros; £149.859 million) by investors, resulting in a theoretical total valuation of 1.47 billion euros. The offered shares offered were oversubscribed 2887 times over. But what is the company planning to do with its newly-raised funds?
Tatneft invests in Kazakhstan tyre factory joint venture
TatneftPJSC Tatneft and JSC Allur Group of Companies are establishing a joint tyre manufacturing facility in Kazakhstan. The factory will produce passenger car, light truck and truck tyres. The planned production capacity is 3 million passenger and light truck tyres as well as 0.5 million truck tyres per year. Production is expected to start in 2022. The project will create about 800 jobs, according to Tatneft.
Linglong building R&D centre in Jinan, China
LinglongLinglong Tire signed a cooperation agreement with the Jinan Municipal People’s Government on 17 July 2020. As a result, Linglong Tire will settle its research and development and technological innovation base in the central district of Jinan. According to the agreement, the two parties will cooperate in terms of science and technology as well as personnel matters. The relevant leaders of Jinan and Linglong’s chairman and president Wang Feng attended the signing ceremony.
Tread Ltd adds Golf to vehicle testing fleet
Tread LtdUK-based tyre test specialists Tread Ltd has taken delivery of a new Golf 8 test vehicle. Up till now Tread’s company-owned tyre test fleet has included models such as the: Audi 736 SUV Q7; Audi B9 UUHP S5; VW MQB V7 Golf GTI UHP; and a VW T6 LTR.
Cooper Tire expands Kruševac, Serbia factory by a third
Cooper TireCooper Tire has invested in increasing production capacity at its Kruševac, Serbia tyre manufacturing plant. – Cooper Tire Serbia, a subsidiary of Cooper Tire & Rubber Company, is managing the US$55 million equipment upgrade and facility upgrade project. As a result of the investment, Cooper’s Kruševac facility will expand to more than 882,000 square feet, adding 118 new jobs.
MPs demand £3 billion UK bus investment
WrightbusA cross-party group of MPs with bus manufacturing sites within their constituencies have written to the Prime Minister to demand the £3 billion he committed in February to fund investment in “at least 4,000 new zero emissions buses” is brought forward as soon as possible.
Hankook invests in its Chinese Sealguard self-sealing tyre capacity, expanding US car tyre plant
HankookPuncture proof tyres are said to be increasing demand – despite criticism from recycling associations of such products. In line with this trend, according to media reports Hankook is significantly expanding its self-sealing production capacity in China.
Apollo aims for leadership in Indian two-wheel tyre market, Europe next
ApolloApollo Tyres is aiming for leadership in the premium two-wheeler segment in India with the inauguration of a dedicated two-wheel cross-ply and tyre manufacturing operation. India is the largest two-wheeler market in the world, and still has a headroom for further growth. In light of the Covid-19 pandemic, demand has increased as people move away from shared/public transport and gradually moving to own a personal vehicle. However, while India is at the forefront for Apollo’s venture into the two-wheel segment, the company is also hinting that it plans to export two-wheel tyres to Europe and North America.
