Tag: investment

Petlas aims to increase car and truck tyre sales with factory investments

Petlas aims to increase car and truck tyre sales with factory investments

Friday 12th January 2018 | 0 Comments

Already a market leader in the agricultural tyre segment in the North Africa, Middle East and Eastern Europe, Turkish tyre manufacturer Petlas is now aiming to increase its passenger car and truck tyre sales figures in the years to come. To this end, the firm reports that it made a series of investments in its passenger car tyre production during 2017.

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Training centre to form key part of Triangle’s new US tyre factory

Thursday 11th January 2018 | 0 Comments

North Carolina’s Edgecombe County will build a manufacturing training centre at Kingsboro to provide a trained workforce for Triangle, as part of its agreement with Chinese tyre manufacturer.

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Incentives helped Triangle decide to build US factory in North Carolina

Tuesday 2nd January 2018 | 0 Comments

Triangle Tire’s decision to build its North American manufacturing facility in North Carolina was helped by the offer of $152 million in state and local financial enticements, state officials announced December 19. The company will receive $66 million in state incentives and $86 million from Edgecombe County. The two-phase project is expected to be complete by 2023.

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Nokian Heavy Tyres lifting production capacity by 50%

Nokian Heavy Tyres lifting production capacity by 50%

Friday 22nd December 2017 | 0 Comments

Through an investment of around 70 million euros in its factory in Nokia, Finland, Nokian Tyres group company Nokian Heavy Tyres Ltd. will increase its production capacity by 50 per cent over the coming three years. The maximum capacity for heavy tyre production will grow from approximately 20 million kilogrammes a year to 32 million kilogrammes. Alongside this capacity boost, approximately 50 additional people will be hired for the production of heavy tyres.

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New £80 million battery factory will create 10,000 jobs

Tuesday 12th December 2017 | 0 Comments

The National Battery Manufacturing Development Facility (NBMDF) - for which the government has allocated £80 million - could create upward of 10,000 jobs.

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Further Guizhou Vietnam plant details

Thursday 7th December 2017 | 0 Comments

Following the initial announcement in April 2017 as well as details given to Tyres & Accessories during an interview in September, Guizhou Advance Tyre has announced further details relating to the expansion of its Vietnam factory plans.

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£80 million funding for national battery facility

Wednesday 29th November 2017 | 0 Comments

A partnership between WMG, at the University of Warwick, Coventry and Warwickshire Local Enterprise Partnership, and Coventry City Council has been awarded £80 million to establish a new National Battery Manufacturing Development Facility (NBMDF). The announcement was made by The Rt Hon Greg Clark, Secretary of State for Business, Energy and Industrial Strategy, while attending an energy conference on the University of Warwick campus on Wednesday 29 November 2017.

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Triangle Tyre publishes details of USA car, truck tyre factory plans

Wednesday 22nd November 2017 | 0 Comments

In disclosures to the Shanghai Stock Exchange, Triangle Tyre Co., Ltd. reports its intention to invest US$580 million in what the company calls its “America Factory Project”. The investment will cover the cost of erecting facilities for producing both passenger car and commercial vehicle tyres.

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Nexen aiming for Global Top 10 by 2025

Tuesday 31st October 2017 | 0 Comments

With new factories in Europe and now also the US Nexen Tire is growing in terms of global production capacity. However, the firm is also investing in developing its brand, especially in terms of football sponsorship. Recently Tyres & Accessories looked into how the company is combining the two in order to meet its goal of entering the global top 10 by 2025. In 1976 Kettering Tyres paid local football club Kettering Town FC to print its logo on the front of the team shirt. The move caused ructions in what was then known as the first division and didn’t last long, but it did set a precedent for sponsorship that went to the next level this year. 41 years later, shirt sponsorship in the English Premier League (called Football League First Division back then), which brought in £226.5 million in sponsor revenues during the 2016-17 season, is very big business.

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Ronal Group opens new wheel factory in Spain

Monday 30th October 2017 | 0 Comments

The Ronal Group, a leading manufacturer of alloy wheels, has built a second plant in Teruel, Spain, which was officially opened on 10 October 2017. The Ronal Group has run a production and administration facility in the Aragón region of north-eastern Spain since 1983. The foundation stone for the latest plant was laid in February 2016.

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Michelin invests in SmartDrive Systems

Monday 23rd October 2017 | 0 Comments

Video safety and transportation intelligence firm SmartDrive Systems shares that Michelin North America has led a preferred-stock round of investment in the company. Michelin's investment in SmartDrive continues the expansion of its strategy for fleet telematics and mobility services. SmartDrive says it will leverage the investment to “fuel its continued growth in video analytics and transportation intelligence, with a particular emphasis in the areas of R&D, sales and marketing, and expansion in North America and international markets.”

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Three Bridgestone tyre plants in Europe to benefit from major investment

Monday 16th October 2017 | 0 Comments

Approximately 266 million euros are to be invested into three key Bridgestone production sites in Europe. In a statement covering its plans, Bridgestone Europe shares that funds will be directed towards expanding capacity at its Burgos facility in Spain and the Poznan and Stargard sites in Poland. The expansion projects will take places in phases over the coming five years, with all upgrades expected to be completed by early 2022.

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Nokian breaks ground on new North America factory

Thursday 21st September 2017 | 0 Comments

Nokian Tyres marked the beginning of building work on the company’s third factory on 20 September. The new greenfield site is located in Dayton (Rhea County), Tennessee, USA. Annual capacity will be 4 million tyres, with expansion potential in the future. The site will also house a distribution facility with a storage capacity of 600,000 tyres. Construction is scheduled to begin in early 2018 and the first tyres are to be produced in 2020.

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Battery performance monitoring firm charged up by The Nucleus

Wednesday 20th September 2017 | 0 Comments

A new online service called dox that aims to help businesses keep on top of their battery consumption, is entering a venture building programme called The Nucleus, supported by The UK Lebanon Tech Hub (UKLTH) a joint initiative from the UK government and Banque du Liban, Lebanon’s Central Bank. dox helps firms track their battery usage, and show when batteries about to fail or need to be replaced. Currently, dox is in the middle of a private beta, in which companies can join the program and test the product for themselves. The company anticipates expansion into other significant markets, such as the automotive and drone industries. With the continued emergence of electric vehicles and the rapidly increasing uses for drones, battery management systems with software for the numerous fleets likely to grow with the increased use of EVs, dox states that there will be a significant demand for battery management systems.

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MTS launches ‘major upgrade’ to TyreClick

Monday 4th September 2017 | 0 Comments

Micheldever Tyre Services (MTS) has launched what it terms “a major upgrade” to its TyreClick online retail site for independent customers. The company states that the upgrade represents one of the biggest and most significant investments in TyreClick since its launch in 2014, including a number of new design and user functionality features. The tyre wholesaler added that it would “never stop investing in its ambition to make TyreClick the best tyre selling site in the business” following the implementation of the new developments.

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