Michelin has announced the launch of a new employee share ownership plan giving Michelin group employees the opportunity to subscribe to a rights issue reserved for them under preferential terms. The subscription period for the share offering will run from Sept. 16 to Oct. 1, 2020.
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.
The COVID-19 pandemic has had a significant impact on global car and tire demand. Despite this, Nokian Tyres’ short-term priorities are clear: “We will continue to provide our customers and consumers with world-class products and services, while at the same time keeping costs under strict control. We will prioritize cash flow by cutting back investments and actively managing working capital,” says Jukka Moisio, President and CEO of Nokian Tyres. “In this volatile market environment, our focus in the second half of 2020 is tactical. A more thorough review of our longer-term growth strategy will take place once the market has stabilized.”
Thai benchmark smoked rubber sheets (RSS3) began rallying in July and rose to the highest levels in nearly three years at 64.65 baht ($2.06) per kg last week. It has eased a little and was quoted at 61.25 baht per kg on Tuesday. Prices for the grade have usually hovered at levels under 50 baht per kg in past years. “Rubber prices increased from global demand, driven by Chinese exports after the economy began to recover,” said Deputy Government Spokeswoman, Rachada Thanadirek.
A new report from Smithers, the multinational provider of testing, consulting, information, and compliance services, has identified the top 20 technologies that will transform the global tire industry across the next two decades. The trends identified range from new materials to smart driving concepts.
The renowned and established automotive replacement parts manufacturer, TRICO Group, has announced its new name: First Brands Group, along with the addition of two new brands to its growing portfolio. It is fitting that as the organisation adopts its new identity, which reflects its position as a multi-brand global player, the First Brands Group is […]
(Reuters) – Auto parts maker Magna International Inc (MG.TO) on Friday reported better-than-expected quarterly revenue and forecast full-year sales above estimates, as vehicle production in North America showed signs of a recovery from the COVID-19 pandemic. The company said it lost about $5.5 billion in sales during the second quarter, as its customers shut production amid government-enforced lockdowns.
The Goodyear Tire & Rubber Co. reported a 41% drop in sales and 45% decrease in tire unit volumes compared to a year ago in its Q2 2020 financial results, released Friday.
Prices of NR, both in the futures and physical markets, moved along a recovery path during July with the notable exception of latex market. Despite the growing concerns about a possible second wave of the pandemic and deteriorating US-China diplomatic relation, NR prices have the potential to continue moving along the marginal recovery path, in the short-term, supported by a host of factors which include the anticipated marginal improvement in the world consumption, factors constraining the world production and physical availability of NR , fall in the inventory held in the designated warehouses of the Shanghai Exchange, continued weakness expected in the U.S. dollar, and the support from the crude oil market.
Bridgestone has published its 2019-2020 Sustainability Report, detailing the company’s new Mid-Long Term Business Strategy, as well as its efforts to contribute to the realization of a sustainable society.
In this report, Bridgestone reveals New Mid-term Environmental Targets – Milestone 2030 – aiming to accelerate the company’s ambition toward “decoupling” to further reduce its environmental impact.
“Sustainability is an indispensable part of all of the Group’s activities and are core elements of our growth strategies and corporate culture,” said Bridgestone’s Global CEO and Representative Executive Officer Shuichi Ishibashi. “Recognizing this, we have kicked off initiatives to more deeply integrate sustainability strategies into our daily operations. We see tremendous business and social opportunity in co-creating new value with our employees, partners, customers and others. We’re pleased to share more about our strategy and approach within this Sustainability Report.”