Dean Muglia named CEO of Discount Tire

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SCOTTSDALE, Ariz. — Reinalt-Thomas Corp. has promoted 31-year company veteran Dean Muglia to CEO of Discount Tire/America’s Tire, succeeding Michael Zuieback, who retains the role of executive chairman for the company.

Read the source article at Tire Business

Tire recycling talk will increase in 2020

WASHINGTON — Scrap tire recycling continues to be one of the most important issues facing the industry, as signified by the recent call to action by the U.S. Tire Manufacturers Association (USTMA) to all affected parties to intensify the development of new sustainable, circular end-use markets for scrap tires.

Read the source article at Tire Business

Sumitomo Rubber sets up rubber procurement company

After considering a number of factors, such as a changing business environment as well as growing awareness of human rights and environmental considerations, Sumitomo Rubber Group has established its own local organisation for procuring natural rubber. It has done so via its member company Sumitomo Rubber Industries, which this month set up Sumitomo Rubber Singapore Pte. Ltd. This entity, located in the world’s largest natural rubber trading hub, will commence operations in April.

Read the source article at Tyrepress

Tire makers shuffle executive positions in 2019

Here are some of the top-level executive changes that occurred in the tire and automotive service industries during the past year:

Alliance Tire Americas Inc. 

  • Laurence Bennett hired as vice president of aftermarket sales…

Read the source article at Tire Business

Goodyear declares dividend on common stock

Directors of The Goodyear Tire & Rubber Company have declared a quarterly dividend of US$0.16 per share of common stock. The dividend is payable 2 March 2020 to shareholders of record on 3 February 2020. The payout represents an annual rate of 64 cents per share.

Read the source article at Tyrepress

Cabot buys Chinese nanotube supplier for $115 million

On 6 January 2020, Cabot China Limited, a wholly owned subsidiary of Cabot Corporation agreed to buy Shenzhen Sanshun Nano New Materials Co., Ltd, a leading carbon nanotube (CNT) producer in China. The $115 million pricetag reportedly includes “liabilities and contingent payments”. According to the company, the move is designed to strengthen Cabot’s position in the high-growth batteries market, particularly in China, which is the largest and fastest growing electric vehicle market in the world.

Read the source article at Tyrepress

Polish rubber parts maker opens Mexico plant

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San Luis Potosi, Mexico – Polish rubber parts manufacturer Sanok Rubber Co. has opened a production plant in San Luis Potosi, in central Mexico, the company has announced.

The plant was officially inaugurated in October 2019 in the presence dignitaries and customers such as Ford, BMW, Webasto, the manufacturer said in a recent statement.

Named SMX Rubber Co., the Mexican subsidiary manufactures automotive parts and delivered its first sales in August last year.

Read the source article at European Rubber Journal

Black Bear appoints new CTO

Dutch end of life tyre upcycling company Black Bear Carbon has appointed Victor Vreeken its new chief technology officer. In this role, Vreeken will lead the company’s efforts to scale-up and globally roll out its technology for converting tyre rubber into recovered carbon black, gas and biogenic oil.

Read the source article at Tyrepress

Goodyear to Advance Future Mobility with Launch of New Venture Capital Fund

LAS VEGASJan. 7, 2020 /PRNewswire/ — Today at the 2020 Consumer Electronics Show, The Goodyear Tire & Rubber Company (NASDAQ: GT) announced a new venture capital fund, Goodyear Ventures, with $100 million targeted for new investments in future mobility solutions over the next 10 years. 

Goodyear Ventures will continue and expand Goodyear’s growing relationships in new mobility, with a focus on partnering and investing in startups with a shared vision of sustainable, safe and new mobility experiences that make life’s connections easier every day. 

Read the source article at PR Newswire

Hankook Tire America introduces Soo II Lee as new President

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Hankook Tire America announced that Soo II Lee will assume the role of President effective this month. Lee succeeds Hosung Suh who began his term as President in July of 2017.

Lee previously served as President and Chief Operating Officer of the America headquarters from 2009 through 2012. Suh will return to Hankook’s global headquarters in Seoul, Korea to take over a new position this month.

Read the source article at Traction News