On 30 August, the first tyre rolled off the production line in the second phase of the Thailand factory run by Huayi, which owns the Double Coin brand. Tyrepress China learned that the project’s second phase involves the production capacity of 300,000 all-steel radial tyres and officially started construction in March this year. If the second phase reaches capacity, the annual production capacity of Huayi’s Thailand factory will be increased to 1.5 million pieces.
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?
Repairify Australia Holdings Pty Ltd and Capricorn Society Limited have entered into a joint venture agreement to deliver “leading-edge remote automotive repair solutions to repairers across Australia and New Zealand”. Repairify and Capricorn have equal ownership of the joint venture, which will be branded as Repairify and distributed across Australia and New Zealand by Capricorn through the Capricorn Preferred Supplier Network.
Pyrum Innovations is bringing its pyrolysis-based tyre recycling technology to the UK in partnership with SUEZ recycling and recovery UK Ltd. The two companies have entered into a one-year exclusivity agreement for a facility with three pyrolysis reactors that can process approximately 20,000 tonnes of end-of-life tyres annually. During the year SUEZ will determine the plant’s location and, with support from Pyrum, begin and finance the approval process.
Honda and GS Yuasa have signed a joint venture agreement toward the establishment of a new company. As announced on January 23, 2023, the two companies have been discussing specifics for collaboration on high-capacity, high-output lithium-ion batteries, mainly for EVs. To address the rapidly-growing demand for batteries, the new joint venture company, which will be named Honda・GS Yuasa EV Battery R&D Co, Ltd, will research and develop lithium-ion batteries and battery production methods that will be highly competitive at a global level. Moreover, the new company will strive to establish a supply chain for key raw materials and a highly-efficient production system for its batteries.
The new, full-electric Smart #1 is the first Smart model developed by the joint venture between Mercedes-Benz and Chinese carmaker Geely. Launch photos released by Smart Europe last year let the Continental cat out of the tyre supply bag, and Continental has now confirmed worldwide supply for the SUV in 18” & 19” tyre sizes.
On 20 February 2023, the board of directors of Doublestar reviewed and approved the proposal to build a factory in Cambodia. The tyre manufacturer reportedly plans to establish a joint venture with UBE Development Co., Ltd in order to complete the plans.
Manufacturing equipment is being installed within the KamaTyresKZ joint venture tyre plant in Kazakhstan ahead of the facility’s commissioning with an initial capacity to produce 3 million car tyres and 500,000 truck tyres annually. A second project phase will add capacities
for rubber products such as conveyer belts, while agricultural tyres will join the production programme in the third phase.
The truck steel wheel plant that Maxion Wheels and Inci Holding have jointly built in Turkey is ready to open, and during last week’s IAA Transportation show the two companies additionally announced plans to set up a facility for manufacturing aluminium commercial vehicle wheels. Maxion Wheels says adding forged aluminium commercial vehicle wheels “rounds out” its globally leading steel wheels portfolio, making Maxion a “one-stop option for truck and trailer manufacturers.”
To meet growing demand for mining tyre recycling and recycled rubber products, specifically carbon black and rCB, Kal Tire’s Mining Tire Group and Mitsui & Co. have entered into a joint venture commercialise the Kal Tire thermal conversion recycling facility in Chile from early 2023. Activities there will act as a “foundation” as the venture pursues “opportunities to bring OTR tyre recycling solutions to mining regions around the world.”
Rema Tip Top and Al Dobowi Industrial Rubber Services have formed a joint venture that will provide industrial services across the Middle East and North Africa. Called Rema Tip Top Middle East, the joint venture aims to be a “leading engineering and service provider” in the region.
Global automotive supplier Hella, which operates under the umbrella brand FORVIA, has agreed the sale of its 33.33 per cent stake in HBPO Beteiligungsgesellschaft mbH (“HBPO”) to its co-shareholder, Plastic Omnium. The agreed purchase price amounts to 290 million euros. The transaction is subject to customary regulatory approvals, but closing is expected in the fourth quarter of 2022.
The first phase of the China-Pakistan joint all-steel radial tyre plant, Service Long March (SLM), has been officially put into production, with an annual output of 740,000 sets of all-steel radial tyres.
Brembo and Chinese brake manufacturer Gold Phoenix have signed a 50:50 Joint Venture agreement to create Shandong BRGP Friction Technology Co. Ltd, the first large scale Brembo manufacturing facility fully dedicated to producing aftermarket brake pads. Brembo and Gold Phoenix have agreed to invest 35 million euros in the project over the next three years. Shandong BRGP Friction Technology Co., Ltd is expected to start operations in early 2023 in Jinan, the capital of Shandong province in Eastern China.
At its recent Annual General Meeting, the first held since the company’s IPO in Oslo and its secondary listing on the Frankfurt Stock Exchange, Pyrum Innovations AG shared details of the special purpose vehicles (SPV) that it intends to establish with joint venture partners. It has already announced one of these, a 20,000-tonne pyrolysis plant in Germany, but a further six SPV projects are on the cards – including a facility in the UK.