FORT MILL, S.C.—Continental is “adapting” production at some of its plants across the globe in reaction to the COVID-19 pandemic.
Bridgestone focuses on brand strategies after slow 2019
Tokyo – Bridgestone Corp. is strengthening its brand strategies ahead of the Tokyo 2020 Olympic games and following weak results in 2019.
The Japanese tire & rubber group reported 19% year-on-year decline in operating profit to Yen326 billion (€2.7 billion), on 3% lower sales of Yen3,525 billion, Bridgestone announced 17 Feb.
Net sales in the tire segment fell 3% to Yen2,953 billion, while operating profit dropped 17% to Yen325 billion.
Capacity expansion drives up Triangle’s 2019 profits
Weihai, Shandong – China’s tire maker Triangle estimates its unaudited net profit in 2019 will be €112 million (850 million yuan), up 76% from 2018.
Net profit less non-recurring items during the year will jump by 78% to €93 million, said a company announcement in January.
“New capacity and optimised product portfolio has generated good market results,” said the announcement.
Nokian Tyres seeks to gain traction in North America with new factory – Reuters
HELSINKI (Reuters) – Finnish tire maker Nokian Tyres expects its new U.S. factory in Tennessee to help it double its sales in North America, especially by expanding its all-season tire sales in the region, the company said on Thursday. The company, which has previously concentrated mostly on winter tire sales in Russia and Europe, said the new facility would allow it to seek growth in the significantly larger all-season tire market in North America.
Pirelli consolidating operations in Brazil
MILAN — Pirelli C. & S.p.A. is planning to consolidate its operations in Brazil, with one possible plant closure in the offing and the commitment of $136 million in investments over the coming two years.
The “reorganization of production structure” would involve the transfer of motorcycle tire production to Pirelli’s plant in in Campinas, Sao Paulo — which currently manufactures car tires only — from its plant in Gravataí, Rio Grande do Sul, thus creating an industrial hub for car, moto and motorsport tires to serve the Latin American markets.
The move likely would result in the closing of the 43-year-old …
Apollo sales, operating profit rise in 2019
KERALA, India—Indian tire maker Apollo Tyres Ltd. posted double-digit increases in sales and operating profits for the fiscal year ended March 31.
Operating profits and sales both rose 18 percent, to $299.2 million and $2.47 billion, respectively, gains Apollo attributed to a “strong performance” in the commercial vehicle segment, especially truck radials in India, and passenger car tires in Europe.
Prometeon adds Tier 3 TBR brand; Tier 2 brand to follow
MILAN, Italy — Prometeon Tyre Group S.r.l., the former Pirelli industrial tire business, has launched a Tier 3 associate truck/bus tire brand as part of the company’s move to a multi-brand approach.
Developed with a special focus on safety, the “Anteo” brand will complement Pirelli as Prometeon’s premium brand, the company said, while an as-yet-unnamed Tier 2 brand is being developed as well for launch later in 2019.
Goodyear, Bridgestone continue building TireHub joint venture
ATLANTA — Combining two legacy brands, such as Goodyear and Bridgestone, into a cohesive joint operation is a challenge that requires collaboration and logistics.
Lehigh making headway under Michelin ownership
HANOVER, Germany—Despite the fact that Michelin has owned Lehigh Technologies since October 2017, the majority of the other tire manufacturers remain comfortable doing business with the producer of micronized rubber powders, according to a company…
Michelin acquires Indonesian tire maker
France: Michelin has completed the acquisition of 88% control of Indonesia’s PT Multistrada Ara Sarana Tbk., producer and marketer of the Achilles and Corsa tire brands as well as a number of private brands.
Michelin paid $439 million (€386 million) for the publicly-listed shares, held by an investment group, the company announced 8 March.
The French tire maker is now launching a public offer for the remaining shares in Multistrada, at the same price it is offering the investor group.