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?
On 17 June 2020 Hankook Technology Group vice chairman and CEO Hyun Shick Cho and Hyundai Motor Group executive vice chairman Euisun Chung hosted a signing ceremony related to construction of the HMG Driving Experience Center at Hankook Tire’s new Taean Proving Ground.
Test World is starting its full programme of winter tyre and vehicle testing after expanding its outdoor tracks in Ivalo, Northern Finland. The team has added 4km of new tracks to meet the rise in demand for tyre and vehicle test services, making the total length 84 km. Some tracks have been reshaped based on customer feedback and to meet changing requirements.
A groundbreaking ceremony held today marked the start of construction work on a new testing and technology centre being set up by Nokian Tyres in Spain. Festivities to celebrate the occasion were held at the site in Santa Cruz de la Zarza. Nokian Tyres anticipates the completion of the first test tracks next year ahead of the technology centre attaining full operational status in 2020.
Since gaining a much greater degree of freedom to conduct business in North America and Europe with the dissolution of its global alliance with Goodyear in October 2015, the Sumitomo Rubber Group has striven to enhance its R&D, production and sales infrastructure to better serve these markets. As part of these efforts, the tyre maker has built a new, 3,500 square metre USA Technical Center on the grounds of its Tonawanda factory in New York State. Sumitomo Rubber Industries reports that this facility will become fully operational in January 2017. The company is also moving forward with the preparations for a Europe Technical Center, which it expects to be fully operational as of September 2017.
The Spanish municipality of Santa Cruz de la Zarza, some 50 miles southeast of Madrid, has been selected as the location of Nokian Tyres’ new technology centre for the testing of summer and winter tyres. The Finnish tyre maker will invest approximately €16 million to build the facility on a site of some 300 hectares. Construction work will begin early in 2017, and while the facility will not be finished until 2019 the first project stage is expected to be completed next year.
The Energy Technologies Institute (ETI) is to invest £200,000 in the first stage of four-month project which aims to develope smart tyre pressure system (commonly called TPMS) at MIRA. According to the two parties, the project aims to help increase the fuel efficiency and reduce emissions of all heavy duty land vehicles that use pneumatic tyres.
A ceremony held on 20 January marked the official opening of Yokohama Rubber’s new winter tyre testing facility in Japan. The ribbon on the Tire Test Center of Hokkaido (TTCH) was cut by a number of dignitaries, including Yokohama Rubber president Hikomitsu Noji and Masahito Nishikawa, mayor of host city Asahikawa.
The formal agreement to acquire Test World was preceded by the establishment of a “strategic collaboration” between Millbrook and the Finnish facility in June 2015. The collaboration was announced at Automotive Testing Expo Europe 2015, in Stuttgart which ran from 16 – 18 June. There the growing partnership between the two companies could be seen in their adjoining exhibition stands designed to demonstrate the range of facilities and services the two businesses can offer.
Camber Ridge LLC has announced its financial partnership with Teton Capital LLC of Jackson, Wyoming, to launch a new state-of-the-art facility for vehicle tyre characterisation, which will begin operations in 2016. The facility aims to offer all the advantages of testing real tyres on real surfaces, but with the precision, environmental control and repeatability of a laboratory environment.
Continental will reach an important milestone in its research project for the industrialisation of dandelion rubber in tyre production when it tests its first WinterContact TS 850 P with a Taraxagum based tread at its Swedish testing facility. Continental unveiled its first test tyres made from the raw material (the botanical name for dandelion is taraxacum) in a limited series last autumn. The use of the material in its WinterContact TS 850 P takes Continental “an important step closer” to its long-term sustainability goals, reducing its dependence on traditional raw materials.
Sami Toljamo has been appointed managing director of well-known Finnish test centre Test World effective 3 November 2014. According to the company, Toljamo has strong background in international business and in managing test facilities.
On 1 July Linglong Group signed a strategic agreement with IDIADA to partner in the construction of a central Asian tyre proving ground. The agreement was signed between Josep-Maria Farran, COO (chief operating officer) of IDIADA, and Wang Feng, vice president of Linglong Group, marking the start of this strategic cooperation.
Maxxis International has held a grand opening ceremony attended by nearly 400 domestic dignitaries and overseas partners for its new Maxxis Proving Ground in Kunshan City, directly adjacent to the company’s Shanghai manufacturing plant. The 860,000sqm comprehensive testing facility is estimated to have cost more than US$150 million, and is thought to be the first proving ground on such a large and all-encompassing scale in China. Cheng Shin Rubber Ind. Co., Ltd., doing business as Maxxis International, calls its new testing facility the country’s “first international standard proving ground”. Backing up this claim, Tyres & Accessories/Tyrepress.com was informed at the opening that at least one European original equipment manufacturer – Mercedes – had given Maxxis input into the facilities required at the proving ground to continue to build its OE supply, while a construction firm from Japan was consulted, though it was built by the Chinese.