The Tire and Rubber Association of Canada News
Kumho Tire has appointed Gangseung ‘Tony’ Lee as Senior Vice President of Global Marketing, effective from January 1 this year.
Lee previously served as Vice President of Marketing & Sales for Hankook Tire Europe GmbH, and succeeds Namhwa Cho who has taken up the position of President of Kumho Tire Europe GmbH.
Kumho Tire has received the Finalist award at the International Design Excellence Awards (IDEA) 2020 in the transport device discipline for two of its future-oriented tires that are targeted at the next-generation car market.
With its earlier wins at the iF Design Award in February and the Red Dot Design Award in March in addition to the IDEA Awards, the company has now achieved the feat of winning all of the world’s top three design awards for this year.
Sellbyville, DE — (SBWIRE) — 01/31/2019 — Rubber Processing Chemicals Market was more than USD 3.5 billion in 2017 and will forecast to exceed USD 5.3 billion by 2025 with 4.9% CAGR during the forecast timespan 2018 – 2025 ; according to a new research report by Global Market Insights.
Asia Pacific created a major chunk of product demand in past and it is likely to grow with highest growth rate over the forecast timeframe. This can be attributed to the presence of major automobile manufacturers in this region. According to the recent OICA reports, more than 50% of global vehicles…
Online tire sale platform
The online retailing helps in reaching out too many consumers without launching stores and this results in cost benefits which are ultimately passed on to the customers. Moreover, increasing spending on e-commerce platform by OEM’s due to high internet penetration rate will drive the online tire market during the forecast period as well.
Seoul – South Korean petrochemicals company Kumho Petrochemical has reported an upward trend in the prices of butadiene and synthetic rubber in the first half of 2018.
The “gradual” increase in butadiene prices, said the company 6 Aug, was a result of a decline in supply, due to “regular maintenances, ‘troubles’ and increased demand caused by favourable ABS market”.
The year is barely 110 days old, and changes continue to happen within the tire industry at a breakneck pace.
First, Michelin North America Inc. and Sumitomo Corp. of America (SCOA) announced their intentions to combine Michelin’s wholesale distribution assets with TBC Corp., creating a 50/50 joint venture, National Tire Wholesale (NTW). The business, with 144 locations across North America, will distribute nearly 15 million tires.
Days later, Continental A.G. revealed it is considering restructuring to position itself for the upcoming disruption in the automotive industry.
In early March, Mavis Discount Tire and…
The global tire industry almost saw another big merger in 2017, but there was plenty of other activity keeping firms busy in the year. From new investments to new structures, here are four of the biggest events within the tire sector.
Doublestar tries to buy Kumho
It looked for a moment another big-time tire merger was about to happen.
Doublestar Tire Co. Ltd. had agreed to acquire Kumho Tire Co. Inc. for about $830 million in March, but in September Kumho creditors rejected the deal after Doublestar allegedly asked for the price to be reduced by 16 percent amid disputes over trademark rights.
The deal is on thin ice as both sides were…
AKRON—Despite relatively lackluster first-half financial performances, tire makers for the most part are optimistic about their second half and fiscal 2017 earnings prospects.
AKRON —Status quo reigned over the 2017 global tire rankings, even as the estimated value of the entire industry declined for a third straight year.
AKRON — The world’s leading tire makers committed more than $7.3 billion in the past year toward new plants and capacity expansions, a measurable drop from record spending of $10 billion-plus in 2015-16 but still ahead of the annualized average for the past decade.
The investment sum was buoyed by nearly $3.3 billion in spending on acquisitions, deals that involved companies with collective annual sales of more than $2.5 billion — including Qingdao Doublestar Tire Co. Ltd.’s still-pending $830 million bid to buy what amounts to a controlling interest in South Korea’s Kumho Tire Co. Inc.