COLOGNE, Germany — The organizers of The Tire Cologne — the biennial tire industry exposition set to debut in 2018 — have added a one-day “Global Retreading Conference” to the event’s agenda.
On November 16, Michelin North America announced the retirement of Chairman and President Pete Selleck, effective Dec. 31, 2017, after six years in that role. His impact to the industry is praised and recognized by the USTMA among others.
Selleck is known for his dedication and service to the tire industry. Anne Forristall Luke, president and CEO of the U.S. Tire Manufacturers Association (USTMA), say Selleck “leaves a lasting legacy of visionary leadership” in the industry.
Nominations have opened for the 2018 Tire Technology International Awards for Innovation and Excellence – the world’s biggest celebration of endeavor in the field of tire development and manufacturing. Nominations are open in the following five categories until December 1, 2017:
Environmental Achievement of the Year
In recognition of environmental advances in the tire industry
Tire Technology of the Year
In recognition of important advances in technology
Tire Industry Supplier of the Year
Hankook Tire has announced John Overing will be the company’s new director of sales and marketing in Canada. Overing will oversee the region’s sales team and will be instrumental in identifying opportunities for growth within the Canadian market.
Overing joins the company with more than 18 years of experience in the tire industry, bringing with him a wealth of knowledge and industry expertise.
FINDLAY, Ohio- Cooper Tire & Rubber Company (NYSE:CTB) today reported third quarter 2017 net income of $62 million, or diluted earnings per share of $1.18, compared with $49 million, or $0.90 per share, last year. The quarter included a $39 million benefit from lower product liability costs. For comparison purposes, the third quarter of 2016 included a non-cash pension settlement charge of $11.5 million related to the lump-sum distribution of benefits offered to certain former employees.
Smithers Rapra, a leader in rubber, plastics and composites testing expertise, has named Matt Kent as technical director of the Smithers Rapra Tire & Wheel Test Center in Ravenna.
In this position, Kent is responsible for overseeing current force and moment testing operations, staff management and technical decision-making. Kent will also be in charge of the commissioning of a new MTS Flat Trac CT+ system in spring 2018.
LAS VEGAS — Dealing with changing vehicle technology will be a recurring theme this year at the Specialty Equipment Market Association (SEMA) Show and Automotive Aftermarket Products Expo (AAPEX), which run concurrently the week of Oct.
Hankook Tire held its grand opening ceremony for its first manufacturing facility in the U.S., underscoring its commitment to technology, innovation and growth in North America. The development of the Tennessee Plant is integral to Hankook’s strategic vision of becoming a top-tier tire brand, while providing high-quality, made-in-USA products to its customers.
CUYAHOGA FALLS, Ohio — The future of the tire industry depends on how it responds to the revolution of transport systems globally, according to Goodyear’s senior director of external science and technology programs.
Surendra Chawla, who’s been in his position with Goodyear since 2007, delivered the keynote address at ITEC in Focus: Reinforcements for Tire Performance, a one-day conference held in mid-September.
Creditors of Kumho Tire Co. said Friday they will push forward a debt restructuring plan for the financially troubled tiremaker as they found its self-rescue plans insufficient to pull off a turnaround, the main creditor Korea Development Bank said Friday.
With the decision, the country’s second-largest tiremaker has been placed under a creditor-led restructuring program three years after it graduated from a legally binding workout program in 2014.
That program was also led by its lenders.
“We, nine creditors, will conduct due diligence on Kumho Tire in the next one and a half months after extending debt worth 1.3 trillion won ($1.1 billion) maturing this month to the end of this year,” KDB Chairman and CEO Lee Dong-gull said in a press conference.
Kumho Asiana Group Chairman Park Sam-koo has now given up management control of the tire company and any say in the use of the tiremaker’s brand name as well as the right of first refusal, the banker said. He said creditors will be able to focus on putting the tiremaker back on track through a possible cash injection and other measures.