Across the Atlantic they are called tires, while over here we use a “Y” and say tyres. This tag provides the latest tyre business news emanating from the United States of America (USA), whichever way you spell it.
Cooper Tire has “officially joined the Goodyear team”. That’s how Cooper Tire general manager EMEA, Jaap Van Wessum characterised the takeover of the company by fellow US tyremaker Goodyear, which was completed on 7 June 2021. Van Wessum also offered further details of what Cooper’s integration into Goodyear means for Cooper suppliers and partners.
Mahansaria Tyres Private Limited (MTPL) has made an agreement in-principle with Tyres International Inc (TI) to buy a majority stake in the US-based tyre wholesaler. According to MTPL, the move is the latest part of its bid to build a global, market leading off-Highway tyre business and the first part of MTPL plans to build its distribution network in North America.
Nokian Tyres is adding third and fourth production shifts at its US factory to increase output capacity to 24/7 production at the facility, in response to rising demand in North America. The company launched its third production shift the week of May 17 and will add the fourth shift in mid-July. Adding shifts is on pace with Nokian Tyres’ plans to produce as many as one million tyres at the Dayton factory in 2021.
Michelin is partnering with Arity, a mobility and data analytics company founded by American insurance company The Allstate Corporation, to develop data-powered solutions for transportation departments and city authorities, with the aim of improving road safety across the USA. This partnership will combine the expertise of Michelin Driving Data to Intelligence (DDI), who are the Michelin Group’s in-house data analysis boffins, with Arity’s database. This database, which contains nearly 100 million consumer connections, is said to be the largest repository of driving behaviour data in the world.
Bridgestone Corporation reports that its North and Latin American subsidiary is expanding several key leadership positions in order to strengthen its core tyre business and to accelerate the execution of its sustainable mobility solutions strategy. The changes will take effect 1 June.
Marty Krcelic, president and chief operating officer (COO) of TBC Brands and executive vice president of TBC Corporation is set to retire effective 30 June 2021. Under his leadership, TBC Brands has become one of the largest distributors of proprietary brand tyres in North America. Geoff Doster will succeed Krcelic to lead TBC Brands as senior vice president of sales. His responsibilities will be expanded to include oversight of TBC Brands operations, customer service, commercial truck tyre sales and equipment and non-tyre sales.
Cooper shareholders approve proposed merger with Goodyear Cooper Tire & Rubber Company’s stockholders have voted overwhelmingly to approve the planned merger with The Goodyear Tire & Rubber Company. The vote was held at a special meeting of Cooper stockholders today. Cooper reports that approximately 99 per cent of votes cast were in favour of the transaction. Read our coverage of Goodyear’s acquisition of Cooper here, or in our special 12-page e-paper supplement.
A further Red Dot accolade for Kumho, which has won a Red Dot Design Award 2021 in the ‘product design’ category. The Red Dot team honoured Kumho for its latest street legal competition tyre, the Ecsta V730. Kumho launched the Ecsta V730 in the US market earlier this year.
An in-depth study into the impact of traffic and tillage on soil compaction has found agricultural machinery running low pressure Michelin Ultraflex Technology tyres could boost farmers’ yields by 4 per cent, helping to ‘feed the world’ for years to come. Harper Adams University – a specialist provider of higher education for the agricultural and rural sector – has been leading the investigation, utilising one site at its campus in Newport and another site in the USA in conjunction with the University of Illinois.
Kumho Tire has shared further details of the planned production capacity increase at its facility in Vietnam, as well as news of an associated project in the USA. The tyre maker says the US$305 million investment will double capacity at the Binh Duong Province site by 2023. This means that annual output should reach at least 9.3 million tyres per annum by that time. As previously stated, the project will commence in the third quarter of this year and run until the early part of 2023.
The largest player in the USA’S tyre recycling sector will soon have a new owner. Global investment firm The Carlyle Group has agreed to sell Liberty Tire Recycling to ECP, a 2005-founded investor across energy transition and decarbonisation infrastructure assets. The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2021. The parties have not disclosed financial details.
Apollo Tyres aims to gain a foothold in the North American commercial vehicle market with tyres produced at its plants in Europe and India. The roll-out of commercial vehicle tyres in the USA and Canada follows the introduction of a comprehensive passenger vehicle range, but this time the tyre maker will market its products under the Apollo brand rather than as Vredestein tyres. Apollo Tyres says the launches of both ranges have been preceded by years of in-market research and planning.
The U.S. Tire Manufacturers Association (USTMA) has awarded Michelin North America, Inc. and The Goodyear Tire & Rubber Company with 2021 Innovation Awards. In the technology category, USTMA honoured Goodyear for its Goodyear motion capture app that performs ergonomic risk assessments. USTMA recognised Michelin for its ‘Bib Bow’ stretching initiative in the culture category.
Cooper Tire
Jonathan Gill, Harper Adams University