The Russian SME Bank has lent 48.7 million rubles (£497,000; 541,582 euros; US$633,100) to Intech Eco LLC, a tyre pyrolysis plant based in the Novokuznetsk industrial park, at the start of September 2020. According to local news reports the loan is for the purpose of building a large tyre disposal facility. Financing will be provided for five years under a program of Russia’s Ministry of Economic Development (according to the Russian Government’s Decree No. 1764 dated 30 December 2018). The loan is said to be secured by a guarantee from Russian Small and Medium Business Corporation (RSMB Corporation), covering up to 50 per cent of the loan amount.
Kama Tyres Tatneft’s Nizhnekamsk Truck Tyre Factory has signed an agreement with Siemens to expand the logistics system previously installed within the plant. This work is being carried out as part of the second phase of an expansion capacity project within the facility.
Nokian Tyres has reported second quarter 2020 net sales of 270.7 million euros. In the comparative period 2019, this figure was 415.7 million euros. Therefore, the Finnish company’s second quarter net sales were 30 per cent lower than this time last year.
Bridgestone EMIA has resumed production at its European manufacturing plants in Bari (Italy) and Lanklaar (Belgium). The Béthune (France) plant will reopen tomorrow, 21 April 2020. This follows the 14 April news that production in all Bridgestone plants located in Spain (Burgos, Bilbao and Puente San Miguel) and Russia (Ulyanovsk) had recommenced. Today’s announcement means that Bridgestone EMIA’s full manufacturing network has restarted production with the exception of its Indian and South African plants, which remain closed for now.
Production at the Nokian Tyres’ Russian factory in Vsevolozhsk re-launched on Monday 6 April 2020. According to the company, the restrictions adopted by the the Russian presidential decree dated 2 April 2020 extending the “non-working regime’ until the end of April, do not apply to Nokian’s Vsevolozhsk factory. This is said to be because “as it is a continuously operating enterprise…it is thus allowed to continue normal operations”.
The Tires & Rubber 2020 exhibition in Moscow has been rescheduled due to the COVID-19 pandemic. Organiser Expocentre reports that the decision not to go ahead with the show between 24 and 27 April was taken after restrictions were announced by federal and city authorities.
Due to the impacts of COVID-19, Nokian Tyres will temporarily cease production at its factories in the USA and Russia. The plant in Dayton, USA will close on Friday for a minimum of two weeks. At Nokian Tyres’ Russian factory, the production shutdown will start on Monday, 30 March and will last for a week. Nokian Tyres will continue supplying customers through its regional warehouses.
In addition to the temporary layoffs planned for its factory in Finland and announced last week, Nokian Tyres is implementing changes at its other sites in response to the COVID-19 outbreak. Production output in Russia will be flexibly adjusted “in line with global demand.” While the ramp-up of Nokian’s new plant in the USA continues, the company has postponed recruitment of additional employees. Furthermore, work on the new test centre in Spain has also temporarily stopped, delaying the project.
In spite of what it calls a “soft” market for car tyres in Europe last year, Nokian Tyres maintained its level of net sales throughout the period. Operating profit was lower year-on-year, and profit considerably increased. Operating profit is expected to take another tumble in 2020.
Tatneft’s acquisition of Sibur’s petrochemical plant in Togliatti, Russia has been completed. This concludes the process initiated by the signing of an agreement of intent between the two parties at the end of August 2019.`
From 1 January 2020, Bridgestone’s India business will fall into the EMEA Strategic Business Unit (SBU), transferring from the China, Asia-Pacific SBU. As a result, Bridgestone Europe, Russia, Middle East and Africa (BSEMEA) will become Bridgestone Europe, Russia, Middle East, India and Africa (BSEMIA), one of four SBUs globally, alongside Bridgestone China, Asia-Pacific, Bridgestone Americas, and Bridgestone Japan. According to the company, the integration of Bridgestone India into EMEA comes as a result of Bridgestone EMEA’s “ongoing transformation capitalising on the opportunities digitalisation offers to pioneer mobility solutions that meet the needs of customers for convenience, efficiency and sustainability”.
As of 1 October, Mete Ekin is vice president of Bridgestone Emerging Markets. In this role he oversees Bridgestone EMEA’s businesses in Africa, the Middle East and Russia. The former regional managing director Middle East and Africa reports to Paolo Ferrari, chief executive officer of Bridgestone EMEA.
Mercedes’ Lewis Hamilton won the Russian Grand Prix from second on the grid with one pit stop, moving from the medium to the soft tyre under a virtual safety car. His team mate Valtteri Bottas, who finished second, adopted the same strategy. Behind them there was a wide variety of tactics seen throughout the 53-lap race, which featured two safety cars: one straight after the start, and one just over the halfway point.
Brexit is perhaps just over a month away, and while many companies face an uncertain future, Nokian Tyres is in the happy position of being relatively unconcerned about the UK rescinding its European Union membership. That’s just as well, as the Finnish tyre maker has other things to worry about.
Hankook and the Russian Kontinental Hockey League (KHL) have officially extended their partnership until 2022. As a result, Hankook remains “KHL Championship Supplier” and “Official tyre partner” in one of the largest ice hockey leagues in the world. The KHL is one of the top sports events in Belarus, China, Finland, Kazakhstan, Lithuania, and Russia where the games are held.