Cooper Standard Agrees to Divest Certain Operations in Europe and India

NORTHVILLE, Mich.May 8, 2020 /PRNewswire/ — Cooper-Standard Holdings Inc. (NYSE: CPS), a leading global supplier of sealing, fuel and brake, and fluid transfer systems for transportation and industrial markets, today announced it has signed an agreement to divest its European rubber fluid transfer and specialty sealing businesses, as well as its Indian operations, to Mutares SE & Co. KGaA.

“This transaction, when closed, will enable us to focus company resources on our businesses that provide the greatest opportunity for growth and profitability,” said Jeffrey Edwards, chairman and CEO, Cooper Standard. “It is consistent with strategic initiatives that we have discussed for the past several quarters, and we expect it will be immediately accretive to our earnings and cash flows going forward.”

Read the source article at PR Newswire

China’s tire exports record two-digit dips in first quarter

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Beijing – China’s tire exports fell 11.3% year on year in the first quarter of 2020 to 102 million units, according to latest figures by General Administration of Customs.

Export value – presented in US dollars –  for the quarter stood at $3 billion (€2.8 billion), representing a 13.2% drop year-on-year, the Chinese agency noted. Weight of such exports fell by 6.9% to 1.3 million tonnes.

Read the source article at European Rubber Journal

Toyoda makes call to action for Japan’s auto industry – Autotalk

Toyota chief executive and Japan Automobile Manufacturers Association (JAMA) chairman Akio Toyoda has a three-point plan to keep his country’s automotive industry working during the COVID-10 pandemic and prepared for a full return to production. At a call-to-action press conference, he told Japanese auto industry groups there are three keys thing they can do now.

Read the source article at Autotalk

Production in ‘full swing’ at ZC Rubber plants

Hangzhou, China – China’s biggest tire maker Zhongce Rubber Group (ZC Rubber) has fully resumed tire production across its manufacturing plants and expects to meet its sales target for this year, the company has announced.

ZC Rubber experienced workforce and supply disruptions at its production plants during the first 10 days of February, the tire maker said in a statement 7 April.

Read the source article at European Rubber Journal

Triangle tire plants in China back to near full production

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Franklin, Tennessee — Triangle Tyre Co. Ltd.’s tire plants in China are back to operating near full capacity after a lull created by the Chinese New Year and subsequent coronavirus shutdown.

“With much uncertainty about how the coronavirus pandemic will affect global tire production, we are grateful that the four Triangle plants are now operating at above 90% capacity,” Triangle Tire USA CEO Manny Cicero said.

Read the source article at European Rubber Journal

Most of China’s tire makers resume production

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Beijing – Over 90% of China’s tire makers had resumed production as of the end of February, and most of those companies had 80% employees returning to posts.

Nevertheless, the facilities were running at an average of 45% utilisation rate, significantly lower compared with the same period a year ago, noted a China Rubber Industry Association’s tire sub-committee.

Read the source article at European Rubber Journal

Now made in Mexico: Japan auto suppliers shift China production after coronavirus – Reuters

TOKYO, March 16 (Reuters) – In the Chinese coastal province of Jiangsu, where supply chains have been shattered by the coronavirus outbreak, one auto supplier has already shifted production of parts for Mazda Motor Corp 13,000 kilometres away to central Mexico’s Guanajuato State.

Read the source article at reuters.com

Goodyear donating 2 million yuan to Covid-19 fight

Goodyear is donating 2 million yuan (approximately $285,000) to support the fight against the COVID-19 in China where the company has a factory in Dalian. Working with the Dalian Chapter of the China Youth Development Fund (CYDF), the donation will be used to support frontline doctors and nurses stationed in Hubei province and Dalian city hospitals.

Read the source article at Tyrepress

Nexen Tire resumes production after short coronavirus pause

Tyre manufacture at Nexen Tire’s Changnyeong plant in South Korea resumed yesterday after a two-day break in production in order to implement “protective measures” against coronavirus. In disclosures submitted to the Korea Exchange (KRX), the tyre maker reported its intention to suspend tyre production in Changnyeong on 1 and 2 March, and resume operations on 3 March.

Read the source article at Tyrepress

Elie Sleiman to head Magna Tyres’ Oceania & Se Asia business

Magna Tyres Group has appointed Elie Sleiman General Manager of its Singapore office, effective 1 March. Sleiman will lead sales within the Oceania & South East Asia region and has responsibility for extending the Magna brand presence, distribution network, and will focus on developing strong customer relationships.

Read the source article at Tyrepress