An investor has been found for insolvent wheel manufacturer BBS Automotive GmbH. The insolvency administrator handling the case reports that a firm called ISHManagementServices GmbH is planning to extensively invest in the Schiltach, Germany-based business. ISH is backed by İş Global Teknik İnşaat A.S., a family-owned holding group from Turkey.
The war in Ukraine and the cost of energy plus general price inflation have replaced covid-19 as the principal threats to growth in trailer demand. Inflation rose to 10 per cent but is now moderating. Interest rates however are still relatively high but not increasing. That’s the view of analysts at Clear International who have published their first report on the Western Europe heavy trailer market since May 2022.
The Kordsa tyre reinforcement plant in Izmit, Turkey has gained ISCC (International Sustainability Carbon Certification) Plus certification. The Sabancı Holding subsidiary declares that this certification solidifies Kordsa’s “commitment to international sustainability standards” and specifically endorses the eco-friendly production of recycled polyester yarn, single cords, and cord fabrics within its product range.
Kordsa has obtained approval from the Science Based Targets Initiative (SBTi) for its emission reduction commitments. By complying with the SBTi’s criteria and recommendations, Kordsa aims to reduce its emissions by 46.2 per cent by the year 2030, using 2019 as the base year.
Petlas’s new SnowMaster 2 Sport winter tyre seeks to “define excellence in winter tyre performance”, according to the Turkish tyremaker. Company representatives report that the latest offering is “a testament to Petlas’ dedication to innovation, safety, and performance…”
Petlas will invest $360 million in the construction of a new light vehicle tyre production facility adjacent to the Turkish company’s existing plant in Kırşehir. The new production line will produce 100,000 tons of tyres for passenger cars and light commercial vehicles, increasing the manufacturer’s total capacity by 42 per cent, reaching 340,000 tons. It will create around 1,850 new roles. Petlas expects to break ground on the new factory in 2023, with completion slated for 2024-25.
Falken’s parent company, Sumitomo Rubber Industries, Ltd. (SRI) and Sumitomo Rubber AKO Lastik Sanayi ve Ticaret A.Ş. (SAT) will provide relief supplies worth a total of 10 million Yen (equivalent to approx. 70,000 Euro) to the victims and those who are affected by the devastating earthquake that hit southern Turkey and northern Syria. The relief supplies consist of tents, sleeping bags and blankets worth 5 million yen (equivalent approx. 35,000 Euro) from SRI and groceries worth 5 million yen (equivalent to approx. 35,000 Euro) from SAT.
Not so long ago the word ‘inflation’ typically drew thoughts to tyre pressure, at least in our line of work. But the other inflation has made an unwelcome comeback and is eating away at our purchasing power. Over in Turkey, the rate of inflation hit 72% in 2022 and made its presence known in Brisa’s financial results for the year. But against this backdrop of growing Turkish Lira weakness, the tyre maker had a good year.
The Yokohama Rubber Co. Ltd. and its employee-backed Yokohama Magokoro Fund is giving a total of ¥1 million (¥500,000 each from the company and the Fund) to the Japanese Red Cross Society in support of relief efforts in the earthquake-stricken parts of Turkey and Syria.
A freshly-signed agreement sees Micheldever Tyre Services (MTS) become the exclusive UK distributor for Petlas passenger car, 4×4 and light truck tyres. Petlas is the third exclusive brand MTS has taken on since its acquisition by Sumitomo Rubber Industries in 2017
The European passenger car and light truck tyre (PCLT) import market recovered substantially from its bout of Long Covid in the second half of 2022 as the benefits of local versus remote production took an unexpected hit. A perfect storm of significantly lower freight costs and high European energy costs nudged the dial on the relative competitiveness of imports and domestic PCLT tyre production in the second half of 2022. Looking at the European PCLT tyre market through the prism of imports, leading sector analyst Astutus Research shares with Tyres & Accessories its data demonstrating the effects of a rapidly changing market context. The latest Astutus Research briefing, ‘Supply Dynamics in the European PCLT Tire Industry to 2028’, priced at £995 is available now on Tyrepress.
Turkish tyre curing press and mould specialist Uzer Makina has opened a new sales office in the USA. The Florida-based operation, Uzer Americas Trading Inc., will serve as the firm’s sales and project management centre for the entire American continent. Uzer Makina states that it will continue investing in this region in order to establish fast contact with its customers in America and to provide fast solutions to their needs.
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.”
Sumitomo Rubber Industries (SRI) intends to raise production capacities at a number of its facilities around the world, but at the same time will remove some products from its portfolio in order to address rising costs. It will also aim for more “flexible” production allocation in response to changes in the business environment.