Goodyear Selling New Zealand Retail Stores
Goodyear Tire & Rubber Co.’s New Zealand unit is selling off its chain of retail tire and auto service centers. The 52 Beaurepaires will be sold to local company Beau Ideal for an undisclosed sum.
Maxxis Climbing the Charts of Largest Tire Firms
Maxxis International has reported another strong year of growth for the 12 months to January 2013. Results from the last financial year show Maxxis tire sales figures surpassing $4.5 billion for the first time, up over $2 billion in the last five years alone. The company reports that despite an adverse global economy and substantial
Francois Michelin Gives Rare Look at His Emotional Life
Almost seven years after Edouard Michelin’s fatal boating accident, his father and head of the Michelin clan, Francois Michelin, granted a rare interview, divulging a glimpse into his emotional life.
Continental Names Cramer to Head China Business
Continental AG has named Ralf Cramer to head its operations in China. Cramer, 47, also is a member of Continental’s management board and most recently led the company’s Chassis & Safety business.
Michelin Plans New Labor Moves in France
In a move to avoid outright plant shutdowns in Europe, Groupe Michelin plans to implement new labor rules at its French factories to help adjust capacity, according to Bloomberg reports.
New Investors Looking at Buying Stake in Pirelli Holder
Reuters reported on May 17 that unnamed outside "industrial and financial investors are in talks to buy a stake in Camfin," which holds controlling interest in Pirelli SpA. Pirelli chairman and CEO Marco Tronchetti Provera controls Pirelli "through a complex chain led by his MTP SpA holding vehicle and comprising two other companies, GPI and
Apollo Tyres Not Raising Funds, Still Looking to Expand
India’s Apollo Tyres has dropped plans – for now – to raise $150 million intended for business expansion. The fund raising would have been through a Qualified Institutional Buyers offering. Apollo said it dropped the scheme due to “volatile market conditions.” At the same time, Apollo said it will press on with unspecified expansion plans
Bridgestone Wins Patent Rights Lawsuit in China
Bridgestone Corp. has won a design patent infringement lawsuit against China’s Qingdao Genco Industrial Group Co. Bridgestone alleged that the Qingdao, Shandong Province-based Qingdao Genco Industrial Group copied a patented groove design on some of its medium truck tires, which were found displayed in a catalog. The suit was filed and won in Qingdao City
Morgan Stanley Sees Plenty of Gains for Cheng Shin
According to a recently published consolidated financial summary for Cheng Shin Rubber, the Taiwanese tiremaker’s net sales and profits are expected to steadily climb over the next couple of years. The Morgan Stanley Research summary estimates that the Maxxis brand manufacturer’s net sales will rise from last year’s NT$130,269 million to NT$138,709 million this year
Adidas Turns to Conti for Improved Running Shoe Grip
In addition to manufacturing commercial, consumer and off-road tires, Continental AG has supplied rubber compounds to Adidas for the past few years.
Yokohama Partners on Latest Gran Turismo Offering
Yokohama Rubber Co. recently became the first tire manufacturer to serve as official technical partner to the popular “Gran Turismo” series of motor racing video games.
BluEarth OE on New Lexus
Yokohama Rubber Co.’s BluEarth E51 has been tapped as the OE tire on the new Lexus IS sports sedan series. The tiremaker is providing the eco-friendly BluEarth E51 in size 225/45R17 91W.