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You are here: Home1 / UkraineRussiaWar

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Tyre makers & the Russia dilemma

Company News, International News

Many tyre makers have faced difficult decisions in the weeks and months since Russian troops first marched across Ukraine’s border on 24 February. Companies such as Nokian Tyres, Bridgestone, Continental, Michelin, Yokohama and Pirelli have needed to decide whether to continue operating their Russian plants. Four of these manufacturers are turning their backs on Russia or considering doing so, but two apparently are not.

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Related news:

  1. How will war in Ukraine impact European tyre production?
  2. Zhongce Rubber enters global top ten tyre manufacturers
  3. World’s leading tyre companies 2022: Michelin and Bridgestone neck and neck for pole position
  4. Farewell Russia? The exit of global players offers long-term growth to domestic firms
22nd December 2022/by Stephen

Studded tyre supply problems push prices up 25% in Estonia

International News
Ernie Journeys; Unsplash

The number of studded winter tyres on sale in Estonia has halved this year, resulting in 25 per cent price increases, according to Estonia’s largest tyre importer Rehvid24.ee.

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Related news:

  1. Conti reports global growth in winter, OEM sectors
  2. Kaluga chosen as site for Conti’s Russia plant
  3. MoU for Conti’s Russian plant signed
  4. Nokian profits down in 1H, but quarterly improvements indicate Nordic strength
4th November 2022/by Chris

Farewell Russia? The exit of global players offers long-term growth to domestic firms

Company News, Editorial/Comment, International News
Egor Fin; Unsplash

Global tyre businesses have exited the Russian tyre business as a direct consequence of the Russian government’s decision to invade Ukraine. We all knew this was coming, following initial announcements from the likes of Michelin, Bridgestone and Nokian along those lines in the second quarter of 2022. However, the news that Nokian sold its much-lauded St. Petersburg operation to Tatneft at the end of October indicates that the exodus is underway. And that, in turn, means significant tyre production capacity within Russia has changed hands, something that has an inevitable impact on those departing, those remaining and the wider tyre business. In this column, we take a look at how Michelin, Bridgestone and Nokian have been negotiating their respective exits from Russia and ask what it might mean for the future.

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Related news:

  1. Top tyre manufacturers deny involvement in tyre test manipulation
  2. Nokian Tyres investing 650 million euros in greenfield factory in Romania
  3. Michelin the number one consumer researched tyre brand: Tyre Reviews
  4. Decennial shift in global PCLT tyre volume market share
4th November 2022/1 Comment/by Chris

Nokian Tyres investing 650 million euros in greenfield factory in Romania

Company News, International News
Michel Bossart; Pixabay

Nokian Tyres’ is investing around 650 million euros in a new passenger car tyre factory in Romania. The new greenfield factory will be located in Oradea in the North-West of Romania, near the Hungarian border. The annual capacity of the factory will be 6 million tyres, with expansion potential for the future. According to an official statement, the site will also house a distribution facility for storage and distribution of tyres. Construction is scheduled to begin in early 2023 and the first tyres are estimated to be produced in the second half of 2024. Commercial tyre production is expected to start in early 2025.

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Related news:

  1. Nokian to invest $360 million in new US tyre factory
  2. Nokian moves selected tyre production out of Russia
  3. Ukraine war continues putting tyre production under pressure
  4. Nokian sells its Russian tyre operation to Tatneft for 400 million euros
1st November 2022/by Chris

“Fear & insecurity” within Nokian Tyres’ Central Europe region

Company News, International News

The EU ban on tyre imports from Russia has hit one company particularly hard: Nokian Tyres. Prior to February 2022, the Finnish manufacturer produced 17 million tyres a year in a factory near St. Petersburg, 82 per cent of its global output. Ten million of these were exported, mainly to Europe. This has no longer been possible since 10 July, with consequences for Nokian Tyres’ Central Europe sales region.

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Related news:

  1. Nokian Tyres appoints Anna Hyvönen EVP of entire Passenger Car Tyres business
  2. Nokian Tyres cuts 2021 dividend as European capacity ramps up
  3. EU sanctions: “significant impact” on Nokian Tyres’ European sales
  4. Nokian Tyres raises 2022 net sales guidance
12th October 2022/by Stephen

Escalating energy costs: Synthos cuts ESBR production

Company News

In light of strongly rising energy prices in Europe, chemical firm and synthetic rubber manufacturer Synthos has announced that it can no longer produce Emulsion-SBR (ESBR) at full capacity. It will thus reduce ESBR output by approximately 30%, equivalent to around 100,000 MTPA, effective immediately.

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Related news:

  1. Synthos: Ukraine war & EU regulations driving interest in recovered materials
  2. Unsatisfied but optimistic: Continental announces Q2 2022 financial results
  3. Nokian Tyres cuts 2021 dividend as European capacity ramps up
  4. Michelin publishes H1 2022 results, maintains full-year guidance
8th September 2022/by Stephen

Nokian Tyres appoints Anna Hyvönen EVP of entire Passenger Car Tyres business

Company News

At a time when it is investing in new European capacity and exiting Russia, Finland’s Nokian Tyres has announced a reorganisation of its structure and management. These measures centre upon a combining of all Passenger Car Tyres commercial operations under the leadership of Anna Hyvönen, who currently serves as executive vice-president North America, Nordics and Vianor. Bahri Kurter, executive vice-president Central Europe at Nokian Tyres, is leaving the company to “pursue his career outside of Nokian Tyres.”

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Related news:

  1. Nokian handed additional tax bill
  2. Nokian tyres implements Ukraine contingency plans, donates to UNICEF
  3. Nokian Tyres cuts 2021 dividend as European capacity ramps up
  4. Nokian Tyres raises 2022 net sales guidance
25th August 2022/by Stephen

F1 cancels Russian GP – organiser criticises “political” sport

Motorsport

Even though ANO Rosgonki, organiser of the Russian Grand Prix, paid “better than good” to bring Formula 1 to the Sochi Autodrom, Stefano Domenicali stands by the decision to cancel this year’s event and to wipe it from future F1 calendars.

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Related news:

  1. Conditions still don’t seem right for a Michelin return to F1
  2. Todt: 2 bids for F1 tyre supply
  3. Formula 2: Pirelli supplying 18” tyres from 2020
  4. Pirelli: Several different factors behind retention of 2019 F1 tyres
24th August 2022/by Stephen

Unsatisfied but optimistic: Continental announces Q2 2022 financial results

Company News

After an April to June period punctuated by negative EBIT and a net loss, tyre maker and automotive components supplier Continental says it is “looking ahead to the second half of the year with optimism.” It is also maintaining its full-year outlook despite a current headwind that chief financial officer Katja Dürrfeld describes as being “rather like a hurricane.”

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Related news:

  1. Continental: Lower income despite strong tyre business in Q1 2022
  2. A “good result” – Continental returns to the black in 2021
  3. Continental revises 2022 outlook, publishes preliminary Q1 results
  4. Michelin publishes H1 2022 results, maintains full-year guidance
9th August 2022/by Stephen

Michelin publishes H1 2022 results, maintains full-year guidance

Company News

In a market hit by the systemic impacts of the conflict in Ukraine and the health crisis, the Michelin Group reports that its net income fell by 18.3 per cent despite a year-on-year increase in sales. The tyre maker nevertheless considers this a good result “in an extremely unsettled environment.”

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Related news:

  1. Michelin reports reduced sales, income for 2020
  2. Michelin: Volumes up 7.5% in Q1 2021
  3. Michelin: YTD sales up 15.6% to €17.2 billion
  4. Continental: Lower income despite strong tyre business in Q1 2022
27th July 2022/by Stephen

First rise in 11 months for UK car production

UK News

UK car production in grew in May 2022 for the first time since June 2021. The Society of Motor Manufacturers and Traders (SMMT) report that a total of 62,284 units left factory gates during the month, a rise of 13.3 per cent. SMMT notes, however, that the increase must be viewed in context against May 2021, which was still suffering significantly from pandemic-related headwinds. Output remains 46.3 per cent below the pre-pandemic month in 2019, with ongoing supply chain issues, increasing economic uncertainty, rising business costs and disruption caused by the war in Ukraine.

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Related news:

  1. New car registrations hit 24-year low in March
  2. UK September car production hits four-decade low
  3. Car production falls for 8th consecutive month
  4. EVs a strongpoint in Covid-stalled UK car market
1st July 2022/by Stephen

Nokian Tyres begins ‘controlled exit’ from Russia

News

Due to the war in Ukraine and subsequent, tightening sanctions, Nokian Tyres plc has determined that it is “no longer feasible nor sustainable” to continue operations in Russia. The Finnish tyre maker’s Board of Directors thus decided today to initiate a controlled exit from this market. Exit preparations start immediately and Nokian Tyres will evaluate different options for its departure, with “due consideration to local employees and legislation.”

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Related news:

  1. EU sanctions: “significant impact” on Nokian Tyres’ European sales
  2. Nokian Tyres staying in Russia
  3. Nokian Tyres cuts 2021 dividend as European capacity ramps up
  4. Nokian Tyres raises 2022 net sales guidance
28th June 2022/by Stephen

Impossible to resume production – Michelin transferring Russian operations

Company News, International News

After suspending its manufacturing activities in Russia on 15 March, Michelin now confirms that it is “technically impossible to resume production,” due in particular to supply issues, amid a context of general uncertainty. It says Michelin Group is “therefore compelled” to plan the transfer of all of its Russian operations by the end of 2022.

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Related news:

  1. Michelin Guide Moscow offline – activities in Russia suspended
  2. Michelin halts Russian tyre manufacturing and exports to Russia
  3. War as a sales opportunity: Titan subsidiary increasing volumes in Russia
  4. Titan International: No further investments in Russian operation
28th June 2022/by Stephen

Arcom: Increase turnover with greater storage space

Company News

When the going gets tough, diversify. This strategy helped storage systems specialist Arcom weather the storms of the past two years. The Polish company is once again enjoying strong demand, both within the tyre industry and beyond. We caught up with sales manager Marcin Smulski during The Tire Cologne to find out more.

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Related news:

  1. Bespoke Arcom storage system helping tyre manufacturer stay flexible
  2. Continental revises 2022 outlook, publishes preliminary Q1 results
  3. Continental: Lower income despite strong tyre business in Q1 2022
  4. New car registrations hit 24-year low in March
21st June 2022/by Stephen

Nokian Tyres raises 2022 net sales guidance

Company News

Although the war in Ukraine and subsequent sanctions continue to “cause significant uncertainty” for Nokian Tyres’ operating environment, especially in regards to its business in Russia, on Friday the company reported that demand for its tyres has nonetheless remained good. For this reason, and after successfully implementing price increases to mitigate the impact of inflation, Nokian Tyres has raised its net sales guidance for 2022.

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Related news:

  1. Nokian Tyres cuts 2021 dividend as European capacity ramps up
  2. EU sanctions: “significant impact” on Nokian Tyres’ European sales
  3. Nokian tyres implements Ukraine contingency plans, donates to UNICEF
  4. Nokian Tyres staying in Russia
20th June 2022/by Stephen
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