The Michelin Group is set to build its first tire recycling plant, locating this in the Antofagasta region of Chile as a joint venture with Swedish-based Scandinavian Enviro Systems AB (Enviro). Construction on the plant is slated to begin this year, with production then beginning in 2023. The project is expected to require an investment of around $30 million. Enviro...
The Michelin Group recently announced that it has been chosen to serve as Societe Air France SA’s exclusive tire supplier for the next 10 years. Beyond just covering tire supply, a new agreement between the two companies will see them bolster their collaborative efforts with regard to the sustainable development of the aviation sector, including CO2 emissions reduction and the...
Toyo Tire Corp. (TYO:5105) is looking to cease tire production this June at its Silverstone Bhd. (SSM) plant in Perak, Malaysia. The plant will then be liquidated and shuttered by Dec. 31. SSM primarily supplies Malaysian automakers with OE tires – and the market with commercial tires – under the Silverstone brand. It also produces a number of Toyo Tires-branded...
Speaking at an online results briefing on Feb. 9, Sumitomo Rubber Industries Ltd. (TYO:5110) President Satoru Yamamoto commented on his company’s performance in coming out of the slump in global tire demand. Sumitomo Rubber’s sales, he said, are seen to be recovering faster than overall market demand. And what is more, he added, the company is projecting a particularly fast...
The COVID-19 pandemic continues to make it difficult to secure containers for imports and exports, and Japan’s rubber industry is no exception. Further, with the potential for the issues here to not only hinder stable product supply but also drive up costs, there are a number of players in the industry voicing concern over the current state of affairs. As...
Nippon Goodyear KK is set to launch a new tire, the EfficientGrip RVF02, on March 1. The tire has been designed specifically for use on minivans, with Goodyear going about this by paying heed to the quirks of such vehicles – such as their characteristic wobbling from side to side due to their height. The result is a tire that...
