Pirelli trims margin guidance on mixed outlook

MILAN, Nov 11 (Reuters) – Italian tyre-maker Pirelli on Wednesday lowered its margin forecast for this year, citing continuing uncertainty in light of the second wave of the COVID-19 pandemic.

The manufacturer of tyres for Formula One and high-end carmakers such as BMW and Audi said the 2020 market outlook had improved in the North America and Asia-Pacific regions.

“But the outlook (is) cautious for Europe because of recent anti-COVID measures following the resurgence of the pandemic,” it said in a statement.

The group guided for a 2020 full-year margin on its adjusted earnings before interest and tax (EBIT) of 11.5-12%, against a twice-trimmed previous forecast of 12-13%, to account for the impact of exchange rates, raw materials and other costs.

Read the source article at Reuters.com

ETRMA welcomes the EU Commission commitment to scope the development of possible further Union-wide end-of-waste (EoW) and by-product criteria (BP).

In the context of the “Circular Economy Stakeholder Conference: Together for a cleaner and more competitive Europe” running on 3-4 November 2020, ETRMA joins forces to bring further the EU Commission commitment to scope, during 2020-2021, the development of possible further Unionwide end-of-waste (EoW) and by-product criteria (BP).

This scoping exercise will help the Commission to make informed decisions on the need to adopt EU-wide EoW and/or BP criteria. Under a circular economy perspective, such harmonized criteria would allow by-products from production processes to be widely recognized in the Union as nonwaste and, facilitate its use in the economy. It would also allow waste to be recovered and widely recognized in the Union as a safe and high quality secondary raw material at the level to compete with raw materials and free to be shipped over the Member States’ borders with minimum administrative burdens.

 

Read the source article at etrma.org

Franco Annunziato confirmed as President of ETRMA

The Board of Directors of the European Tyre and Rubber Manufactures’ Association gave a strong signal of commitment and continuity to face the actual macroeconomic scenario, via the confirmation of the presidency to Mr Franco Annunziato, Bridgestone Vice president and Senior Advisor. In the same meeting, Mr Joan Vicenç Durán, from Consorcio Nacional de Industriales del Caucho, was elected Vice President. Both functions are effective as of 1st January 2021 for a three-year mandate.

Read the source article at etrma.org

LG Chem mulls North America, Europe expansion to meet electric car battery demand

SEOUL — LG Chem plans to triple production capacity for cylindrical batteries used by Tesla and others and is considering expansion in Europe and North America to meet surging demand, the supplier said on Wednesday. The South Korean company forecast a further rise in its battery sales and profit in the fourth quarter after posting record quarterly earnings thanks to growing demand for EV batteries.

Read the source article at Front Page

BKT becomes Euroleague Basketball Premium Partner

BKT, a tire manufacturing company based in India, will sponsor Turkish Airlines EuroLeague and 7DAYS EuroCup through 2023, Euroleague Basketball announced Tuesday.

Read the source article at Basketball News

40 industry organisations call to postpone Substances of Concern in Products (SCIP) database in Europe

Brussels, 21 September – ETRMA and a coalition of 39 industry organisations wrote a letter to European Commission President Ursula von der Leyen calling for decisive action to solve implementation issues within the EU Waste Framework Directive (WFD), specifically the Substances of Concern in Products (SCIP) database.
The signatories representing a very significant part of the European Economy request urgent resolution of implementation issues in a database designed to support the circular economy as expressed in the European Green Deal. This “SCIP” database is required by Article 9.1 of the updated Waste Framework Directive.

Read the source article at etrma.org

Device to curb microplastic emissions wins James Dyson award

A device that captures microplastic particles from tyres as they are emitted – and could help reduce the devastating pollution they cause – has won its designers a James Dyson award.

The Tyre Collective, a group of masters students from Imperial College London and the Royal College of Art, scooped the UK prize of the international competition with their solution for the growing environmental scourge of tyre wear caused by road transport.

Read the source article at theguardian.com

France to discuss alternative scenarios for Bridgestone plant | Reuters

PARIS (Reuters) – The French government plans to discuss in two or three weeks time with all involved parties alternative scenarios for a French plant that tyre maker Bridgestone is considering closing, Junior Economy Minister Agnes Pannier-Runacher said on Monday. The French government is looking into options to try to save jobs and prevent the closure of the Bethune tyre plant in northern France that Japan’s Bridgestone 5108.T plans to shut.

Read the source article at reuters.com

The European tyre industry will contribute to achieve the new EU climate goals

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Brussels, 17 September 2020 – The tyre industry welcomes the European Commission’s ambitious goal to reduce greenhouse gas emissions by 55% by 2030. This announcement also affirms Europe’s determination to continue striving for more innovative and sustainable mobility solutions to advance common interests.

Read the source article at etrma.org

Bridgestone announces project to cease activity at its Bethune plant in France

Given the challenging long-term evolution of the industry in the European passenger tyre market, Bridgestone has to consider structural measures to ensure the reduction of its production overcapacity and improve its cost efficiency.

After carefully studying all the potential options, the company announced during an Extraordinary Works Council today it intends to stop all activity at the Bethune plant, as it is the only viable path to safeguard the competitiveness of Bridgestone’s operations in Europe.

Read the source article at Bridgestone Newsroom