Merger-and-acquisition activity soared to unprecedented heights in 2018, especially in the North American wholesale and retail sectors.
Why are retreaders getting squeezed with lower production and profit margins? The tire trade journals have been splashing the effects of cheap “Chinese” Tier 4 tires for many months as the primary cause of production and financial stress for retreaders.
This is no doubt a major influence and major contributor to this decline. To quote recent media on other political national topics, “This is fake news.”
The major Tier 1, Tier 2 tire manufacturers also are contributing in this shrinkage with the advent of the wide-base super-single (WBSS) tires that have been heavily marketed for nearly 18 years now.
Bridgestone Americas has announced that Tom Lehner has been named vice president, government relations, effective immediately. Lehner is responsible for the strategic direction and management of Bridgestone’s government relationships in the US, Latin America and Canada.
Nokian Tires announced it has hired Stephen DeCastro to lead North American financial operations from the company’s new office in Nashville, Tennessee. DeCastro will serve as Nokian Tires’ Head of Finance and Controlling for the Americas region.
“We are excited to welcome Stephen to our team,” said Nokian Tires Senior Vice President, Americas Mark Earl. “His experience will help us build scalable financial systems that will support our growth.”
Stephen DeCastro | © Nokian Tires
The Goodyear Tire & Rubber Co. signed a multi-year agreement renewing its title sponsorship of the Goodyear Cotton Bowl Classic played annually at AT&T Stadium in Arlington, Texas.
With the agreement, Goodyear extends its more than six-decade association with college football that started with the Goodyear Blimp providing aerial coverage of the 1955 Rose Bowl. From the Rose Bowl to the Cotton Bowl, the blimp has covered more than 2,000 college football games.
Iori Suzuki, currently president and CEO of Toyo Tire Holdings of Americas Inc. (TTHA), will add the title of chairman of the company to his title.
Suzuki will continue in his role as corporate officer of the company. He succeeds James L. Hawk, CEO of Toyo Automotive Parts (USA), Inc., and chairman of Toyo Tire North America OE Sales LLC. Hawk concluded his chairman roles on December 31, 2018. He will assume the position of senior advisor to the Toyo Tire group.
The distinction comes as GM plans to shutter four U.S. manufacturing facilities this year, putting thousands of jobs at risk and drawing political and labor criticism of its decision to produce so many vehicles in Mexico, particularly the new Chevrolet Blazer SUV. GM’s rise in Mexico is largely because of Nissan scaling back its sedan production there, slipping from the top position.
Global Conductive Silicone Rubber Market: Trends
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Cuernavaca, Mexico — Bridgestone de Mexico SA de CV is planning to upgrade manufacturing capabilities at its car and light truck tire plant in Cuernavaca with a $100 million (€87 million) investment over the coming two years.
The investment will allow the implementation of innovative processes and new technologies, while also strengthening the plant’s capacity to produce high value-added tires such as run-flat tires, Bridgestone said, in addition to the reduced rolling-resistance Ecopia models.
From Tire Review
Marangoni Tread North America will expand its manufacturing plant in Tennessee, President and CEO Bill Sweatman announced.
“With unit sales up this year, production had to be increased right away,” Sweatman said. “Independent retreaders’ business remains strong and we expect demand to continue to increase as we move into 2019. We will be adding additional capacity to manufacture the XP Extreme Performance wide-base Ringtread here in the U.S.”