The importance of unimpeded access to natural rubber has been acknowledged by the European Union, which has added the raw material to its Critical Raw Material List. the decision was made with the support of the European Tyre & Rubber Manufacturers’ Association (ETRMA), which contributed to the process of revising the List.
Books for the share sale were due to close at 1200 GMT.
At 6.5 euros per share, Pirelli, which is offering up to 40 percent of its shares, would be valued at 6.5 billion euros (5.72 billion pounds)- well below a maximum valuation of 8.3 billion euros initially targeted when the offer opened last week.
Established in 1872 and one of Italy’s best-known corporate names, Pirelli is expected to return to the Milan stock exchange on Oct. 4 in one of the biggest IPOs in Europe this year.
It’s time to deliver for Ford Motor Co. CEO Jim Hackett. The auto industry outsider hired to guide the company through an uncertain transition into mobility, electrification and self-driving cars is methodically pushing for a new mindset in Ford’s infamously insular culture. That’s exactly what Wall Street — and the automaker’s board of directors — want to see.
Nokian has held a groundbreaking ceremony for its new US plant in Dayton, Tennessee. The greenfield factory, which will produce passenger car and light truck tires, will have an annual capacity of four million units and the first products are expected to roll off the production line in 2020. The facility is expected to reach total output by 2022, and its design provides room for potential capacity expansion in future.
Global data company IHS Markit will use its acquisition of automotiveMastermind Inc. to step into the behavior prediction software realm. AutomotiveMastermind’s cloud-based technology allows dealers to predict consumers’ automobile-buying behavior to help streamline the purchasing process, IHS Markit, of London, said in a statement Tuesday. So far, the software company has teamed up with dealers handling 15 automotive brands.
Nikolai Setzer, Continental AG executive board member for tires talks about Continental ContiSense and ContiAdapt tire technology. ContiSeal is a technology designed to seal damaged tyre tread. ContiSense: Uses tire sensors to measure tread depth and temperature and alerts drivers to tire damage – data transmission via electrically conductive rubber ContiAdapt: Adjusts tire pressure and rim width to adapt contact patch to road conditions.
More of the same, but better, could sum up the Lanxess approach to the polyurethanes business that came as part of the Chemtura acquisition.
FREUDENBERG, Germany—HF Mixing Group has announced a number of organizational changes and restructuring plans in order to improve its offerings to meet growing market demand for automation and integrated auxiliary products.
FRANKFURT — Robert Bosch has felt the impact of the diesel-emissions crisis through its ties to Volkswagen Group. But the supplier has been able to offset any hit to sales through its strong commercial vehicle business, CEO Volkmar Denner told Automobilwoche, a sister publication of Automotive News Europe, in an interview. What impact did the diesel crisis have on Bosch? At present, we have a very good situation in our diesel business.
Dyson Ltd., best-known as a manufacturer of vacuum cleaners, hand driers and air filters, will build an electric car by 2020, founder James Dyson said Tuesday. The company is investing one billion pounds ($1.34 billion) to develop the car, plus the same sum to create solid-state batteries to power it, Dyson said. These investments will dwarf money the company is spending on research and development for its vacuums and air filters.