1. Articles in category: Executive News

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    1. Toyo Tires USA appoints new president

      CYPRESS, CA – Toyo Tire U.S.A. Corp. (Toyo Tires) announced today that John Thomas has been selected as its next president and chief executive officer (CEO). Thomas brings more than 30 years of automotive experience to the role, including extensive knowledge of the North American OEM and aftermarket landscape.  In his most recent role Thomas served as president and CEO of Webasto Charging Systems, Inc. based in Monrovia, CA.

      Thomas will report to Tatsuo Mitsuhata, chairman of the board of Toyo Tire U.S.A. Corp. Located at the global headquarters in Japan, Mitsuhata is also a director and corporate officer of Toyo Tire Corporation and vice president of the Sales Headquarters.

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    2. The Goodyear Tire & Rubber Company Expected to Announce Quarterly Sales of $3.41 Billion

      Brokerages expect The Goodyear Tire & Rubber Company (NASDAQ:GT) to report $3.41 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for The Goodyear Tire & Rubber’s earnings, with the lowest sales estimate coming in at $3.36 billion and the highest estimate coming in at $3.47 billion. The Goodyear Tire & Rubber posted sales of $3.06 billion in the same quarter last year, which would suggest a positive year over year growth rate of 11.4%. The company is scheduled to report its next quarterly earnings results before the market opens on Thursday, April 29th.

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    3. Bridgestone to Acquire Otraco OTR Tyre Management Solutions

      Bridgestone Announces Strategic Growth Investments Based on Mid-Term Business Plan Acquiring Otraco OTR Tyre Management Solutions Business from Downer

      • Acquisition expands Bridgestone’s global mining solutions business in key markets such as Australia, Chile and South Africa.
      • Otraco’s extensive service network and world-class tyre solutions portfolio will strengthen the way OTR customers are served by Bridgestone worldwide.
      • The transaction is targeted for completion by the end of 2021.
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    4. Hankook Tire wins iF Design Award 2021 in two categories

      Nashville, Tenn.,  April 20, 2021 – Global leading tire company Hankook Tire has won ‘Winners‘ in the Professional Concept and Communication categories at the renowned iF Design Award 2021 for its Design Innovation Project 2020.

      The Design Innovation is Hankook’s R&D project held every two years, in collaboration with one of the world’s leading design universities. Through joint research, the project puts forward a vision for future driving and solutions that tackle today’s challenges. For the Design Innovation 2020, Hankook collaborated with professors and students from the Department of Industrial Design at the University of Cincinnati. 

      Under the theme ‘Urban Reshaping’, the project visualized transformation of cities geared by mobility reconfigured as part of living spaces rather than stand-alone vehicle in the future where augmented automation infrastructure and cutting-edge technologies such as eco-friendly technology, autonomous driving and Artificial Intelligence (AI) are to be adopted.

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    5. Bridgestone Investing in Japanese OTR Tire Plant

      Bridgestone Corporation is investing ¥10.2 billion (approx. $94.3 million) to install new equipment for certain facilities at its Shimonoseki, Japan plant, the company’s flagship production base for tires made for mining and construction vehicles (OTR tires).

      Installation of the equipment is set to begin in 2022 and be completed by the end of 2025, the company says. Bridgestone says the new equipment will enhance the company’s production system in terms of safety, disaster preparedness, eco-friendliness, quality and productivity.

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    6. ETRMA appoints new members for 2022

      Following a meeting of the board of directors, the European Tyre and Rubber Manufacturers’ Association (ETRMA) has agreed that from 2022 it will welcome Nexen Tire Europe and the Czech Republic and Slovakia Tire Producers’ Associations as members. Following these additions, ETRMA will represent 15 international tire manufacturers and 11 national sector associations.

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      Mentions: europe ETRMA
    7. Ontario Supporting Business Investment and Prosperity during COVID-19

      TORONTO April 15, 2021 — The Ontario government is proposing new red tape and burden reduction measures intended to minimize existing barriers on businesses and support a long-term recovery plan. Today, Prabmeet Sarkaria, Associate Minister of Small Business and Red Tape Reduction, announced Ontario's Spring Red Tape Reduction Package and introduced the Supporting Recovery and Competitiveness Act.

      The proposed legislation is the latest in a series of actions that will help businesses and government deliver clear, modern and effective rules that promote public health, safeguard the environment and create jobs. If passed, the act will help more individuals, families and small businesses recover from the economic effects of COVID-19 and prepare them for future opportunities.

      The details from the backgrounder pertaining to tires, Resource Productive and Recovery Authority (RPRA), and administrative penalties are as follows:

      • Increase transparency and accountability for the RPRA

      • Reduce burdens and duplicative regulations for the tire ...

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    8. Michelin presents its “All Sustainable” Strategy for 2030

      Michelin presented “Michelin in Motion”, the company’s “All Sustainable” strategy for 2030, by Florent Menegaux, Managing Chairman, Yves Chapot, General Manager and Chief Financial Officer, accompanied by all the members of the Group Executive Committee.

      Mr. Menegaux explained the Group’s “All Sustainable” vision, which is based on the constant search for the right balance between People, Planet and Profit. He also presented the Group’s ambitions for 2030, based on twelve indicators covering its environmental, social, societal and financial performance.

       

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    9. Michelin looks to become more than a tire company

      PARIS — France's Michelin plans to add about 14 billion euros ($17 billion) to its annual revenues by 2030, by recovering from a pandemic-induced slowdown and diversifying beyond its tire-making heritage into new activities including hydrogen power and medical devices.

      The firm said in a strategy presentation on Thursday that it anticipated revenue in 2030 of 34 billion euros, compared to 20.5 billion last year.

      It expects the fastest growth to come from its business making hydrogen power systems for vehicles. It said that would grow from a forecast 200 million euros in 2025 to 1.5 billion by the end of this decade.

      It said it also hoped for rapid growth in the new fields of 3D metal printing and medical devices.

      "While staying true to our DNA, the company's profile will evolve greatly by 2030, with a bigger role for new, high-value activities around, and beyond ...

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      Mentions: Michelin
    10. Goodyear Holds Virtual Annual Meeting, Elects Directors

      AKRON, OhioApril 12, 2021 /PRNewswire/ -- The Goodyear Tire & Rubber Company (NASDAQ: GT) announced the election of 13 members to the Board of Directors for new one-year terms at the company's virtual annual shareholder meeting today.

      In addition, shareholders voted in favor of an advisory resolution approving the compensation of its named executive officers and voted to ratify the appointment of PricewaterhouseCoopers LLP as the company's independent registered public accounting firm for 2021. A shareholder proposal was not approved.

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    11. TIA Seeking Nominations for Board of Directors

      BOWIE, Md. – The Tire Industry Association (TIA) has opened nominations for four board of director positions that will become open in November 2021.  

      Newly elected board members will serve three-year terms and may be re-elected to serve two additional three-year terms. Positions on the TIA board are open to individuals who fulfill the following requirements:

      • Employed by a TIA member company; 
      • Member company must be in good standing for two consecutive years prior to election; and 
      • Represents a manufacturer, tire dealer, wholesale distributor, supplier, recycler or retreader. 
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    12. Continental Celebrates 150-Year Anniversary

      Continental, one of the largest tire and automotive technology suppliers in the world, is celebrating its 150th year in business in 2021. The company was founded in Hannover, Germany, in 1871. Over the next 15 decades, Continental transformed from a local manufacturer of tires and soft rubber products to an international technology company.  

      Today, Continental has nearly 15,000 employees in the United States. Worldwide, three out of every four vehicles on the road are equipped with the company’s tires or automotive technologies. An estimated one billion people place their trust in Continental every day. 

      Throughout this year, Continental will celebrate the company’s esteemed history with stories on how it became a driving force of technological progress. Before cars were even invented, the company began by manufacturing horse “hoof buffers” along with solid tires for carriages and bicycles. In 1904, Continental was the first company in the world ...

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      Mentions: Continental
    13. Sports Car Championship Canada Names Michelin Official Tire

      LAVAL, QCApril 6, 2021 /CNW/ - The new Sports Car Championship Canada series has named Michelin its official tire. The news comes as Michelin expands its motorsports presence in North America.

      The partnership announcement emphasizes the importance of the Canadian market to Michelin and allows the brand to have a meaningful part of the growing motorsports events in Canada.

      "Becoming the official tire of Sports Car Championship racing in Canada demonstrates Michelin's growing North American motorsports presence," says Tony Menard, director of Motorsport, Michelin North America. "With IMSA, the Porsche Carrera Cup and now the Sports Car Championship, we're seeing more drivers and racing series taking into account the importance of tire performance."

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    14. The Firestone sign moved to Bridgestone's race tire plant

      Bridgestone Americas has found a new home for the iconic Firestone sign about a mile south from where it first glowed over Akron more than 100 years ago.

      Pre-approved by the city’s planning department, Bridgestone Americas Tire Operation, which owns Firestone, is asking the Akron Planning Commission on Friday to back a conditional use request to re-install the sign on the rooftop of the Advanced Tire Production Center at 1670 Firestone Parkway.

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    15. Yokohama Tire Opening New Distribution Center Near Dallas

      Yokohama Tire Corporation announced it will be opening a new 430,000 square-foot distribution center in Wilmer, Texas, about 15 miles southeast of Dallas. The state-of-the-art, full-service facility is expected to open in summer. It will first be used to distribute Yokohama’s OE tires, followed by passenger car/light truck and commercial truck/bus products in 2022. Yokohama has three other distribution centers in the U.S.: Chino, California, Groveport, Ohio and Auburn, Georgia

      “Yokohama is customer-focused, so we are always looking for ways to minimize the amount of time from when an order is placed to when we can deliver it to a dealer,” said Rick Alonzo, Yokohama Tire’s vice president of supply chain & logistics. “One of our biggest goals is to elevate our customer service and the new location in Texas will accomplish that. “We’ll have better control of having the right products in the ...

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    16. Lawton Goodyear plant breaks ground

      The Lawton Goodyear Tire and Rubber Co. Plant broke ground Tuesday afternoon on the plant’s 16th equipment modernization project since the plant was built in 1979.

      The new project, the addition of an advanced mixer, will be built on the west side of the plant. Construction is expected to start this month and be completed early next year.

      The project will allow the Lawton Goodyear plant to improve its mixing capacity and to meet increasingly stringent performance requirements for emerging technologies like electric and autonomous vehicles, said Lester Brooks, manufacturing director of the local plant.

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    17. Continental to test tires in dynamic driving simulator

      Continental is investing in a state-of-the-art dynamic driving simulator in order to develop its premium tires for the original equipment business even more efficiently, sustainably, and precisely in line with customer requirements in the future. The high-tech installation from manufacturer Ansible Motion will go into operation in mid-2022 at Continental’s largest European tire test center, the Contidrom in Wietze near Hanover. It is a Driver-in-the-loop simulator (DIL) that calculates exact driving dynamics parameters of the tires and those of the respective test vehicle. Thanks to its high mobility, the simulator can provide Continental’s professional test drivers with subjective driving impressions, just like tire tests on the test track. Test drivers can experience new tire developments in the most diverse virtual test scenarios and driving situations.

       

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    18. China Approves Restructuring of Sinochem and ChemChina

      China gave approval for a restructuring of Sinochem Group and ChemChina Group, two companies that have been long the target of merger speculation.

      The State-owned Assets Supervision and Administration Commission, which regulates the companies, announced the approval late Wednesday in a one-line statement. In a separate statement, Sinochem said the two firms will become wholly-owned subsidiaries of a new holding company, operated by SASAC. 

      The move “will further optimize resource allocation, strengthen innovation and stimulate business growth,” Sinochem said. It will also aid the development of the chemical industry in China, it said.

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    19. LafargeHolcim Successfully Closes Firestone Building Products Acquisition

      LafargeHolcim (Paris:LHN) announces that its Holcim Participations (US) Inc. subsidiary has successfully completed the acquisition of Firestone Building Products, following all regulatory approvals. The transaction closed earlier than expected due to smooth collaboration with Bridgestone and all 1,900 employees will be joining LafargeHolcim.

      Jan Jenisch, LafargeHolcim CEO: “I warmly welcome the Firestone Building Products team into the LafargeHolcim family. Together, we will lead this iconic company’s next era of growth to become the global leader in flat roofing systems. As we expand its leadership in the US to Europe and Latin America, I want the world to know that “NOBODY COVERS YOU BETTER” than Firestone.

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    20. Goodyear Teams up with Electric Mobility Pioneer UFODRIVE

      COLMAR-BERG, LUXEMBOURG, March 23, 2021 - The Goodyear Tire & Rubber Company today announced a strategic relationship with UFODRIVE, an all-digital, all-electric car rental company, aimed at improving electric vehicle fleet performance.

      The companies will together pursue opportunities to integrate their complementary mobility solutions, including Goodyear’s intelligent tire monitoring system and proactive solutions suite and UFODRIVE’s advanced eMobility software as a service platform.

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      Mentions: Goodyear mobility
    21. Hankook Tire Extends Partnership With MLB

      Leading global tire maker Hankook Tire announced that it will continue its multi-year partnership with Major League Baseball (MLB) as the league’s Official Tire in the U.S. and South Korea. Hankook first entered into partnership with MLB in 2018 with the goal of showcasing Hankook Tire across Major League Baseball’s wide array of highly engaged media assets, which include MLB Network, MLB.com, the MLB app & MLB social media channels. The multi-dimensional partnership also provides Hankook with marketing rights during the most-viewed events of the baseball calendar – MLB All-Star Week and the MLB Postseason, through the culmination of the World Series.

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      Mentions: Hankook Tires
    22. Nokian Tyres Increases Production at the Finnish Factory

      Nokian Tyres plc is increasing its production capacity for passenger car tires at the Finnish factory by approximately 30% by starting to run in four shifts. With this capacity increase, approximately 70 new people will be hired for passenger car tire production in Nokia, Finland.

      The recruiting begins immediately and will be executed by the Nordic Agency. Production will run four shifts at the latest in the beginning of August 2021. The flexible working hours contract covering passenger car tire production in 2021 has been extended to last until the end of 2022. The contract ensures job security: during the contract period, there will be no layoffs or terminations of employment due to financial or production-related reasons.

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    23. Pirelli Targets Return to Pre-Pandemic Level as Soon as 2022

      (Bloomberg) -- Italian tire maker Pirelli SpA is targeting a return to pre-pandemic levels as soon as next year, as the company set new medium-term goals and targeted increased investment in high-value products. Pirelli, whose biggest investor is China National Chemical Corp Ltd, or ChemChina, said on Wednesday that it sees 2022 revenue at about 5.1 billion euros ($6 billion) to 5.3 billion euros.

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      Mentions: tire maker Pirelli
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