Michelin Set to Shutter Truck Tire Plant: Analyst
According to Deutsche Bank Markets Research, Groupe Michelin is expected to announce on June 11 the closure of its Tours, France, truck tire factory. Research analyst Gaetan Toulemonde reports that closure of the 1.2-million-tire per annum capacity plant would be a product of weak volumes in Europe. While the European passenger car tire market is
Pirelli Wants Faster Pace in Asian Growth
Pirelli SpA wants to grow faster in the Asian markets, and is now seeking "industrial partnerships" toward that end, according to Reuters reports. Pirelli Chairman Marco Tronchetti Provera was quoted on June 8 as saying, "We’re looking at how we can grow the most quickly in Asia, for example at an industrial partnership along the
Titan Confirms Russia Interest, Taylor Looks at 2013 Thus Far
On June 8, Titan International confirmed reports that it is in talks regarding a potential investment in Russia. Titan said in a statement that it has "in cooperation with One Equity Partners and Russian Direct Investment Fund entered into negotiations with Cordiant about a potential investment in Russia. Titan hopes to successfully complete these discussions
Report: Titan Poised to Enter Russian Tire Market
The Moscow Times reported that Titan International may enter the Russian tire market via purchase of a stake in Voltair Prom, a Kordiant-owned tire plant in Volgograd. According to the report, the Voltair Prom plant currently produces agricultural and industrial tires, and was valued at around $150 million. JPMorgan and the Russian Direct Investment Fund,
Mr. Pot, Meet Mr. Kettle: China Wants Tariff on Car Imports?
A report in French financial magazine Les Echos suggests that the Chinese government is considering imposing an additional tariff on cars imported from the European Union. The report was picked up by analysts Morgan Stanley, which suggest that the new tariff could be in response to the recently announced 11% tariff by the EU on
Three NR Producers Set to Review Production Cut Impact
The rubber industry in Indonesia will propose a review of the supply management that it, along with Thailand and Malaysia, implemented over the past six months to cut overseas supply.
China SR Capacity Pushing 4 Million Metric Tons
China’s synthetic rubber capacity is growing rapidly due to favorable policies toward private, foreign and Taiwanese enterprises, not to mention robust domestic demand.
Federal Uses Autopromotec to Launch Formoza AZ-01
Federal Tire Corp. launched its Formoza AZ-01, the company’s latest flagship product, in Bologna at the recent Autopromotec.
Autopromotec 2013 Proved to Be Largest Ever
With 1,512 exhibitors and 102,536 attendees, Autopromotec 2013’s organizers lauded the latest Bologna show this past May, describing it as “the largest and most international ever.”
Tronchetti Provera Works Deal to Retain Pirelli Control
After more than a week of wrangling and negotiating, Reuters reported yesterday, it appears that Pirelli SpA chairman and CEO – and largest shareholder – Marco Tronchetti Provera has retained his "grip on the Italian tiremaker." Tronchetti Provera "negotiated the exit from Pirelli’s controlling company of rival stakeholder Malacalza Investimenti," Reuters said. "Under the agreement,
Firestone Industrial Adding to Air Spring Plant
Firestone Industrial Products Co. is planning a $2.7 million expansion of its air spring manufacturing facility in Wolsztyn, Poland. Construction work began on May 6. Firestone’s Wolsztyn facility is one of six facilities that manufacture air springs for the global market. The expansion will add approximately 35,000 square feet to the existing building and provide
Pirelli Works to Clear Up Position on Mercedes Test, Upgraded Tires
Pirelli SpA has rebuffed claims that its recent 1,000km test in Spain gave the Mercedes team, with whose 2013 vehicle and drivers the test was completed, any unfair sporting advantage over other teams.