Production capacity at Kumho Tire USA Inc.’s consumer tire manufacturing plant in Macon, Ga., will increase by an additional 500,000 units per year as part of an expansion initiative that is expected to be completed by the fourth quarter of 2022.
Currently, Kumho’s Macon plant can produce 11,000 passenger tires at capacity, according to MTD’s 2021 Facts Issue.
Parent company Kumho Tire also is investing $305 million to expand its tire manufacturing plant in Vietnam.
Read the source article at Modern Tire Dealer
Nokian Tyres plc is increasing its production capacity for passenger car tires at the Finnish factory by approximately 30% by starting to run in four shifts. With this capacity increase, approximately 70 new people will be hired for passenger car tire production in Nokia, Finland.
The recruiting begins immediately and will be executed by the Nordic Agency. Production will run four shifts at the latest in the beginning of August 2021. The flexible working hours contract covering passenger car tire production in 2021 has been extended to last until the end of 2022. The contract ensures job security: during the contract period, there will be no layoffs or terminations of employment due to financial or production-related reasons.
Read the source article at Choose the right tyre
(Bloomberg) — Italian tire maker Pirelli SpA is targeting a return to pre-pandemic levels as soon as next year, as the company set new medium-term goals and targeted increased investment in high-value products. Pirelli, whose biggest investor is China National Chemical Corp Ltd, or ChemChina, said on Wednesday that it sees 2022 revenue at about 5.1 billion euros ($6 billion) to 5.3 billion euros.
Read the source article at India News
AKRON, Ohio, March 31, 2021 /PRNewswire/ — The Goodyear Tire & Rubber Company (NASDAQ: GT) today announced that it has commenced a public offering of $1 billion aggregate principal amount of 10- and 12-year senior notes. The notes will be senior unsecured obligations of the company. Issuance and sale of the notes is subject to market and other customary closing conditions.
Goodyear intends to use the net proceeds from this offering, together with its current cash and cash equivalents, to redeem in full its outstanding $1 billion 5.125% senior notes due 2023 following, and subject to, the completion of this offering, at a redemption price equal to par plus accrued and unpaid interest to the redemption date.
Read the source article at PR Newswire
Raise your hand if you saw the Goodyear acquisition of Cooper Tire coming? It was just one of the latest surprising industry announcements in a year full of surprises. A lot has changed since we talked with Gary Schroeder, executive director of Cooper’s global truck and bus tire business, for our executive interview in February of last year. (It feels like 10 years ago, actually.) At that point, Cooper Tire and Rubber Co. was poised for growth in the trucking industry, with new products coming down the line. I caught up with Schroeder for his take on the Goodyear announcement, an update on new products and what the new normal means for Cooper today and going forward.
Fleet Equipment (FE): So wow—the Goodyear news definitely took those of us on the outside by surprise. Can you share any details for what this deal means to Cooper and how it shapes the road ahead? …
Read the source article at Fleet Equipment Home
MILAN, March 24 (Reuters) – Italy’s Pirelli said on Wednesday its Chief Executive Marco Tronchetti Provera had proposed Giorgio Luca Bruno as new deputy-CEO, with the task of supporting the tyre-maker’s new business plan to be presented at the end of the month.
Shareholders will vote on his appointment as both deputy CEO and board member at the company’s annual meeting (AGM) on June 15, Pirelli said in a statement.
Read the source article at reuters.com
NASHVILLE, Tenn., March 29, 2021 /PRNewswire/ — Bridgestone Retail Operations (BSRO), a subsidiary of Bridgestone Americas and the largest network of company-owned tire and automotive service centers in the world, announced it will open 58 new stores across the U.S. in 2021 as part of the company’s continued growth strategy. The projected launches follow significant BSRO expansion in 2020 when 52 new locations opened amid the ongoing COVID-19 pandemic and subsequent impacts on the retail sector.
“We are grateful that despite all the changes 2020 had in store for us, we were able to create jobs in 52 new communities and provide essential services to more customers across the country,” said Marko Ibrahim, president, Bridgestone Retail Operations. “We are excited to continue expanding our retail footprint in 2021 as we solidify our position as the most trusted tire and automotive service provider in every neighborhood we serve.”
Read the source article at Home – AutoNews-Wire.com
U.S.-based manufacturer of tire recycling machinery beats out European competitors for international awards program that recognizes excellence in tire recycling.
With the world consuming 1.5 billion tires each year, the Recircle Awards are designed to recognize companies in the tire manufacturing, retreading and recycling industries that eliminate waste in support of the circular economy. The annual event was held virtually this year and was sponsored by Autopromotec and two leading trade journals: Tyre & Rubber Recycling and Retreading Business.
ECO Green won out against four internationally recognized suppliers to the recycling industry. “We were up against the Big Daddies in this field, including Denmark-based Eldan Recycling,” said Brad Swenson, ECO Green President. “Our company is smaller and younger than some of our competitors, but that hasn’t stopped us from distinguishing ourselves. We were honored to be recognized alongside the biggest names in tire recycling.”
Read the source article at prunderground.com
DIAMOND BAR, Calif., Mar. 30, 2021 /PRNewswire/ — Nexen Tire America, Inc., a worldwide leader in high-performance, passenger, SUV/light truck and winter tire technology, today announced since 2000, the company has manufactured more than 500 million tires without a single recall. Nexen Tire has implemented precision tire-manufacturing guidelines throughout its four tire manufacturing plants across the globe – two in the South Korean cities of Yangsan and Changnyeong, one in Qingdao, China, and its newest plant in Zatech, Czech Republic — ensuring all tires meet the company’s strict global manufacturing standards.
Read the source article at PR Newswire
On March 22nd, through the Director’s meeting, Kumho Tire appointed Il-Taik Jung from Vice President of R&D to President & CEO.
This election was decided to achieve an optimization of management and the best interest is on improving overall performances.
Read the source article at Autosphere.ca