Fasten your seatbelt for next 8 months

curata__ujAbTKTORQnYyO6.jpeg

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…

Read the source article at Tire Business

Kumho union votes for Doublestar takeover

curata__q06Ok0jclbQXZtr.jpeg

Seoul – Kumho Tire’s labour union has voted in favour of a plan to sell a 42.01% majority share of the South Korean tire maker to China’s Doublestar Tyre, according to business news website, The Pulse.

The 2 April report said more than 2,700 unionised workers took part in the vote, of which 60.6% were in favour of the sale to the Chinese company.

Chinese investors led by Qingdao Doublestar told ERJ in March that they had reached an agreement with Kumho’s shareholder Korea Development Bank to…

Read the source article at European Rubber Journal

Nokian Tyres changes brand design

curata__GSMpITMXR8oc3Mw.png

Nokia, Finland – Nokian Tyres has changed its brand design is response to consumer trends and in order to become more attractive in the company’s strategic growth areas.

The Finnish tire maker said 6 March that the new brand, which uses simpler fonts compared to the previous design, reflected its “long history, sustainable business and Scandinavian values.”

Read the source article at European Rubber Journal

Kumho unveils two commercial tires for North American market

ATLANTA—Kumho Tire USA Inc. has introduced a pair of commercial trailer tires for the North American market, the KLT12e and KRT12.

Read the source article at Rubber and Plastics News

China’s Doublestar Takes Control of Kumho Tire

curata__EcL3jkDZUyX9PYi.jpeg

China’s Qingdao Doublestar Co. Ltd. has agreed to invest 646.3 billion won ($597.4 million USD) for a 45% stake in South Korea’s Kumho Tire Co. Inc, multiple news outlets reported at the beginning of March.

According to a statement filed with the Shenzhen stock exchange, China’s Qingdao Doublestar Co Ltd’s parent company will buy 129.3 million ordinary shares in Kumho Tire, becoming the controlling shareholder in the debt-ridden South Korean tire maker, Reuters reported.

Read the source article at Tire Review

Tire maker Michelin posts higher 2017 profits, warns of currency hit

curata__xjiXrwYWZGUySKo.jpeg

PARIS (Reuters) – French tire maker Michelin reported higher profits for 2017 while warning of a likely hit from foreign exchange movements.

Net income rose 1.6 percent last year to 1.693 billion euros (1.52 billion pounds), the company said on Monday. Analysts polled by Inquiry Financial for Reuters had given a median net income forecast of 1.67 billion euros.

Read the source article at Stock Market Quotes and News

Goodyear suffers double-digit earnings drops, Q4 net loss

curata__ZMjL2bj2PKSzRHS.jpeg

Akron, Ohio — Goodyear suffered double-digit drops in segment operating income for the quarter and fiscal year ended 31 Dec and reported a tax-reform-related net loss for the quarter.

Goodyear cited elevated raw materials costs and the “unfavourable” impact of reduced production volumes on costs for the operating earnings declines, and said the fourth quarter loss was driven by a $299 million (€244 million) one-time, non-cash tax charge related to US tax reform.

Read the source article at European Rubber Journal

Hankook eyes continued sales growth, profits rebound in 2018

curata__VXRDwCw6zUrqCaK.jpeg

SEOUL, South Korea—Hankook’s management expects profits to rebound in 2018 as the company focuses on increasing its sales of higher value-added products and diversifying its OE portfolio.

Read the source article at Rubber and Plastics News

Michelin settles design patent lawsuit with Tire Mart

ST. LOUIS — Michelin North America Inc. has reached a settlement with Tire Mart Inc., d.b.a. Braven Off-Road, in a design patent lawsuit brought last year by Michelin.

Read the source article at Tire Business

Zeon supplies rubber for Yokohama winter tire

curata__CeAp2Rre3Wrc7hB.png

Tokyo – Nippon Zeon Co. has supplied solution polymerised rubber to Yokohama Rubber Co. (YRC) for its latest studless tire “iceGUARD 6″, Zeon announced 25 Jan.

The company said the solution rubber had high reactivity with silica, allowing for increased loadings and uniform dispersion.

Compounds based on the polymer would yield tires with improved rolling resistance and wet-grip properties, added Zeon.

Read the source article at European Rubber Journal