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You are here: Home1 / sanctions

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German rubber industry facing an “existential” Q4 2022

International News

German rubber industry association wdk is “sounding the alarm” as massive increases in the cost of energy, raw materials and logistics take their toll upon companies within the industry, draining their liquidity and straining earnings. The wdk warns of impending insolvencies, a concretisation of relocation plans and job cuts.

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  1. ‘Reifen’ show moving to Cologne
  2. ZC Rubber, Bekaert sign strategic cooperation agreement
  3. FinTyre buys RS Exclusiv Reifengrosshandel and TyreXpert Reifen + Autoservice
  4. German Fintyre Group almost completely in bankruptcy
15th September 2022/by Stephen

EU sanctions: “significant impact” on Nokian Tyres’ European sales

Company News

The latest EU sanctions against Russia will seriously affect Nokian Tyres and its business in Europe. The tyre maker says the sanctions will have a “significant impact” on its ability to manufacture tyres in Russia, which will reduce its ability to sell tyres in the EU, and within Central Europe in particular.

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Related news:

  1. Nokian Tyres drops 2022 guidance due to Russian invasion
  2. Nokian Tyres staying in Russia
  3. Nokian Tyres cuts 2021 dividend as European capacity ramps up
  4. Sanction-hit tyremaker Belshina patriotic amid war in Ukraine
11th April 2022/by Stephen

Yale upgrades Trelleborg’s Russia response to B

International News

Following Trelleborg Group’s confirmation that it cancelled plans to invest in new manufacturing facilities in Russia following Russia’s invasion of Ukraine at the end of February, Yale School of Management has upgraded the Swedish-based rubber products specialist business from grade “F” to “B”.

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Related news:

  1. Pirelli stops new investment in Russia, puts brakes on tyre manufacturing in Russia
  2. Nokian Tyres drops 2022 guidance due to Russian invasion
  3. Continental: Russian tyre raw material supply will ‘gradually deteriorate’
  4. Bridgestone: No facilities or employees in Ukraine
8th April 2022/by Chris

Pirelli stops new investment in Russia, puts brakes on tyre manufacturing in Russia

Company News, International News
Pirelli

Pirelli has stopped investment in the Russian market. At the same time, Pirelli is phasing down production at its two Russian tyre plants – Kirov and Voronezh. Writing in a statement published on 18 March 2022, executives confirmed that they have stopped investment in Russia “excluding those linked to security”. At the same time, Pirelli executives said: “activities of the factories in Russia will be progressively limited to those needed to guarantee the financing of salaries and social services for employees.”

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Related news:

  1. Continental: Russian tyre raw material supply will ‘gradually deteriorate’
  2. How will war in Ukraine impact European tyre production?
  3. Yokohama: No change at Russia tyre factory
  4. Bridgestone: No facilities or employees in Ukraine
21st March 2022/by Chris

Bridgestone: No facilities or employees in Ukraine

International News
Google; CNES, Airbus, Maxar Technologies

As part of our ongoing coverage of the impact of the Russia-Ukraine war, Tyres & Accessories asked one of the world’s leading tyremakers, Bridgestone, a series of questions about its operations in Russia and the Ukraine.

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Related news:

  1. How will war in Ukraine impact European tyre production?
  2. Yokohama: No change at Russia tyre factory
  3. Nokian Tyres drops 2022 guidance due to Russian invasion
  4. Continental: Russian tyre raw material supply will ‘gradually deteriorate’
4th March 2022/by Chris

Yokohama: No change at Russia tyre factory

International News
Chickenonline; Pixabay

Despite the war in neighbouring Ukraine and the resulting sanctions imposed on Russia by the international community, as of 2 March 2022, company representatives told Tyres & Accessories the Yokohama’s Russian tyre manufacturing operation in Lipetsk, 500 kilometres south of Moscow, is running as normal.

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Related news:

  1. Bridgestone: No facilities or employees in Ukraine
  2. Nokian Tyres drops 2022 guidance due to Russian invasion
  3. Continental: Russian tyre raw material supply will ‘gradually deteriorate’
  4. Ukraine war’s impact on global tyre-makers acute for Nokian, manageable for others
3rd March 2022/by Chris

Continental: Russian tyre raw material supply will ‘gradually deteriorate’

Company News, International News
Igorn; Pixabay

In light of the ongoing war in Ukraine and the resultant sanctions against Russia, Tyres & Accessories asked the well-known automotive supplier and premium tyre manufacturer for its perspective on the situation. In response, an official statement from the Continental Tire Group Sector explained: “We are following the war against the Ukraine with great concern. Our thoughts are with the people affected and we hope that the combat operations end as quickly as possible.”

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Related news:

  1. How will war in Ukraine impact European tyre production?
  2. Nynas stops doing business with Russia and Belarus
  3. Nokian Tyres drops 2022 guidance due to Russian invasion
  4. Nokian moves selected tyre production out of Russia
3rd March 2022/by Chris

Titan: Russia-Ukraine war hasn’t impacted global operations

Company News, International News
Voltyre-Prom; Titan International

OTR tyre specialist Titan International, which owns the Voltyre-Prom tyre manufacturing operation in Russia, is bracing itself for “the potential impact of bans, sanction programs, and boycotts…” due to Russia’s recent invasion of Ukraine. However, deep in the detail of Titan’s strong fourth-quarter 2021 reports which were published today (3 March 2022), executives affirm that “the impact of the military conflict between Russia and Ukraine has not had a significant impact on global operations”.

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Related news:

  1. Titan receives additional settlement put option notice
  2. Voltyre-Prom: Key shareholder announces aim to sell stake in tyre maker
  3. Titan International closes RDIF put option transaction
  4. Sanction-hit tyremaker Belshina patriotic amid war in Ukraine
3rd March 2022/by Chris

Nynas stops doing business with Russia and Belarus

International News
Nynas

Nynas has halted the purchase of feedstock of Russian origin. Sales to customers in Russia and Belarus have also been stopped. According to the petrochemical company which supplies tyre industry, the Russian invasion of Ukraine and “its tragic consequences throughout the region” prompted Nynas to reconsider its supplies from Russia and also sales to the country.

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Related news:

  1. Sanction-hit tyremaker Belshina patriotic amid war in Ukraine
  2. Bitumina becomes Nynas’ largest shareholder
  3. Nynas exits reorganisation
  4. Rosava’s long-established partnership with Belarussian Grodno Azot tested by war
3rd March 2022/by Chris

Sanction-hit tyremaker Belshina patriotic amid war in Ukraine

Company News, International News
Belarussian Ministry for Finance

As the war between Russia and Ukraine entered its fifth day on 28 February, and as talks between the Russian and Ukrainian governments were set to take place, local news reports suggested that troops from nearby Belarus were set to enter combat. The significance for the tyre industry is that, as well as obvious and tragic implications for Ukraine and its domestic tyre business, there is now evidence that the conflict’s ramifications are reaching neighbouring countries. But where does Belarussia’s leading tyre manufacturer, Belshina, fit into this picture?

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Related news:

  1. Nokian Tyres drops 2022 guidance due to Russian invasion
  2. Reports: Belshina discussing Yokohama JV
  3. Yokohama confirms Belshina meeting took place
  4. Belshina produces first 63-inch tyre
28th February 2022/by Chris

Nokian Tyres drops 2022 guidance due to Russian invasion

Company News, International News
Nokian Tyres

Nokian has dropped its 2022 financial guidance as a result of the invasion of Ukraine by Russia where Nokian runs a tyre manufacturing plant in Vsevolozhsk, near Saint Petersburg.

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  1. Sanction-hit tyremaker Belshina patriotic amid war in Ukraine
  2. Rosneft responds to its inclusion on sanctions list
  3. Hakkapeliitta Truck E Points to New Truck Tyre Range
  4. Cooper acquisition is a game changer – Apollo MD talks to T&A
28th February 2022/by Chris

Nynas exits reorganisation

Company News, International News
Nynas

Nynas has exited company reorganisation after Swedish courts confirmed the process is now complete following a creditors meeting. The court’s decision is effective 21 December 2020. After this, Nynas will no longer be limited by reorganisation regulations.

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Related news:

  1. Nynas exits US sanctions
  2. Bitumina becomes Nynas’ largest shareholder
  3. Nynas considering India expansion
  4. Nynas enters restructuring process
30th November 2020/by Chris

Bitumina becomes Nynas’ largest shareholder

Company News, International News, UK News
Nynas

Having exited US sanctions in May 2020, Nynas – which supplies oils to the tyre and rubber industries – has continued an eventful year by announcing significant ownership changes that put Bitumina in a commanding position amongst its shareholders.

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Related news:

  1. Nynas exits reorganisation
  2. Nynas exits US sanctions
  3. Nynas considering India expansion
  4. RISE and Environ embark on tyre-derived oil research project
16th September 2020/by Chris

Nynas exits US sanctions

Company News, International News, Legislation
Nynas is now free from the US sanctions against VenezuelaNynas

The US Treasury Department’s Office of Foreign Asset Control (OFAC) has confirmed that Nynas is no longer being blocked pursuant to the Venezuela Sanctions Regulations. As a result of a corporate restructuring of the ownership of Nynas AB, sanctions are lifted.

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Related news:

  1. Nynas exits reorganisation
  2. Bitumina becomes Nynas’ largest shareholder
  3. RISE and Environ embark on tyre-derived oil research project
  4. Trelleborg Fined US$11M for Cartel Involvement
13th May 2020/by Chris

Rosneft responds to its inclusion on sanctions list

Company News, International News

Russia’s Rosneft, indirect 13 per cent shareholder in Italian tyre maker Pirelli, has commented on the decision by the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) to include it on the new sectoral sanctions list. The oil company was one of four energy sector companies added to the list on 16 July 2014; the sanctions were announced in response to unrest in Ukraine but were put in place before the crash of Malaysian Airlines MH17. Under the terms of the sanctions, US citizens can not undertake certain dealings with Rosneft and the other firms, and they will not be able to obtain medium or long-term lending from the US.

Read more

Related news:

  1. Rosneft buys 13 per cent of Pirelli
  2. Russia a growing part of Pirelli’s business?
  3. Pirelli and Rosneft in synthetic rubber cooperation talks
  4. Pirelli and ChemChina agree closing date, triggering mandatory tender offer
21st July 2014/by Tyrepress Editors

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