South Korea’s Hankook Tech chairman sells entire stake to younger son; shares rally

The parent of South Korea’s top tyre maker Hankook Tire & Technology said its chairman had sold his stake in the group to his younger son, driving its shares up 30% as investors bet this could lead to a family feud over ownership.

Hankook Technology Group Co Ltd Chairman Cho Yang-rai has sold his 23.59% stake in a block deal to Cho Hyun-bum, who heads the tyre maker, making junior Cho the largest shareholder with a nearly 43% stake in the parent company, a regulatory filing showed on Tuesday.

Read the source article at Stock Market Quotes and News

BFGoodrich Tires celebrate 150 years of innovation and performance

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BFGoodrich Tires started as a small rubber company in Akron, Ohio in 1870, and 150 years after, it became a powerhouse of innovation and performance enablement.

During the past century and a half, BFGoodrich’s accomplishments include the first pneumatic car tire produced in the U.S., tires for the first car to drive coast to coast, tires on the historic flight of the Spirit of St. Louis, the first tubeless tires, the first radial tire in the U.S., and tires on the Columbia space shuttles.

Read the source article at Traction News

Continental Tires Bundles Sustainability Activities in New Department

​​​​​​​Hanover, June 19, 2020. For many years now, Continental’s Tire business area has demonstrated an ongoing commitment to the area of sustainability and has now bundled all activities and projects in a newly created department under the leadership of Claus Petschick as part of its “Vision 2030” strategy program. As Head of Sustainability, he is responsible since April 1, 2020 for the strategic direction and worldwide steering of all sustainability projects, and in this role reports directly to Christian Kötz, Head of the Tire business area and Member of the Executive Board of Continental AG.

Read the source article at continental.com

Goodyear Names New President for European Consumer Business

BRUSSELS, June 22, 2020 – The Goodyear Tire & Rubber Company today announced a new leadership appointment in its Europe, Middle East and Africa (EMEA) region. Hakan Bayman has been named president of Goodyear’s consumer tire business in Europe, effective July 1.

Bayman will be based in Brussels and report directly to Chris Delaney, President Goodyear EMEA.

“Hakan brings deep industry experience in both customer-facing and marketing capacities and I am enormously confident in his ability to drive value for our customers and make it easy to buy, own and recommend Goodyear tires,” said Delaney.

Read the source article at Newsroom Goodyear EMEA

Feds are investigating cheap import tire pricing

WASHINGTON — The U.S. Commerce Department said on Tuesday it had opened investigations into vehicle tire imports from South Korea, Taiwan, Thailand and Vietnam to determine whether the are being sold at less than fair value. The department said it was also investigating whether tire producers in Vietnam were receiving unfair subsidies for passenger vehicle and light truck (PVLT) The investigations were in response to petitions filed in May by the United Steelworkers (USW) representing workers at U.S. tire plants. “Even though demand for PVLT increased, domestic producers were still forced to grapple with reduced market share, falling profits …

Read the source article at Autoblog

Pirelli: The Resilience of Carrère and Seabrook in the 2019 Annual Report

Milan, 18 June 2020 – Resilience is the theme at the centre of “The Road Ahead”, the 2019 edition of the Pirelli Annual Report which, continuing the now decade long tradition, tells the company’s story going beyond the numbers alone. This year the task of enriching the report, with previously unpublished texts and illustrations, was entrusted to the great author Emmanuel Carrère, the famous non-fiction writer John Seabrook, and the visual artist Selman Hoşgör.

 

Read the source article at Newsroom Pirelli

Former Maxxis International President Returns as Chairman

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Former Maxxis International President Dr. Wally Chen is leaving retirement to assume chairmanship of the company.

 

Chen’s chairmanship was effective immediately after a vote by the company’s board of directors at a recent meeting.

“I want Maxxis to be a positive force in the world by offering safe, sustainably manufactured, high-quality tires to consumers who know that they can count on us for 100% quality, 100% service, and 100% trust. Together, we will strive to make Maxxis an even better company and our world a better place,” Chen said.

Read the source article at Tire Review

TIA Issues Statement on ‘Invest in America Act’

On June 3, the House Transportation and Infrastructure Committee released draft text of a five-year, $494 billion surface transportation reauthorization bill entitled the “Investing in a New Vision for the Environment and Surface Transportation in America Act” or the “INVEST in America Act.”

The bill includes $411 billion in contract authority from the Highway Trust Fund for highway, transit, safety and research programs. $319 billion is the portion allocated for the Federal-aid highway program under the Federal Highway Administration.

 

Read the source article at Tire Review

Michelin expands Sportbike tire range for road and truck use

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Michelin has renewed its entire Sport offering by launching four new motorcycle tire ranges this year:

  1. Michelin Power 5
  2. Michelin Power GP
  3. Michelin Power Cup 2 and
  4. Michelin Power Slick 2

“As the official tire supplier for MotoGP, Michelin is thrilled to provide an entire new range of sportbike tires for the track and street,” said Shane Messner, director of two wheel for Michelin North America.

Read the source article at Traction News

BKT Launches Maglift Eco, Maglift Premium

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Two new models, the Maglift Eco and the Maglift Premium, are coming for Maglift, the BKT tire specifically designed for forklifts.

Maglift Eco is made with two layers of rubber compound and has a shape and wide lugs for stability and load distribution, BKT says. There is also a rim guard designed to protect against damage and denting. Low rolling resistance and high resistance to overheating are designed to offer maximum efficiency, and steel wires incorporated into the hitch offer secure grip and prevent slippage, BKT says. There are two versions available, standard and “LIP,” which has an asymmetric hitch to avoid having to add flanges.

Read the source article at Tire Review