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Sumitomo Rubber Sees Decline in Business Profit for First Quarter

on May 26, 2020 in Tires

Sumitomo Rubber Industries Ltd. (TYO:5110) has released its business results for the January–March quarter of calendar 2020 in accordance with International Financial Reporting Standards (IFRS). The company reported sales revenue of 190.79 billion yen ($1.77 billion) for a year-on-year decrease of 9.7 percent, while business profit decreased 54.7 percent to 2.57 billion yen. Tire operations recorded sales revenue of 163.19...

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Bridgestone Looks to Expand European Sales Network by Acquiring Germany’s Reiff

on May 20, 2020 in Industry, Tires

Bridgestone Corp. (TYO:5108) subsidiary Bridgestone Europe NV/SA recently announced that it has concluded a final agreement to acquire Reiff Reifen und Autotechnik GmbH, a supplier of automotive services including tire sales in southern Germany. The agreement was concluded on May 1; the amount paid for the acquisition has not yet been revealed. Reiff controls a retail network of 42 tire...

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Bridgestone Nominates Masahiro Higashi as New Global COO

on May 15, 2020 in Tires

Bridgestone Corp. (TYO:5108) announced on May 11 that Representative Executive Officer Masahiro Higashi has been picked to fill the role of Global COO going forward. The decision came at a board of directors meeting on the same day. Higashi will also take up a number of other new roles, including global chief administration officer (CAO), CEO and president of the...

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Michelin Partners With Swedish Company to Develop Recycling Technology for Used Tires

on May 12, 2020 in Industry, Tires

The Michelin Group is partnering with Scandinavian Enviro Systems AB (Enviro), a Swedish-based tire recycling company, on a large-scale project to develop and commercialize pyrolysis technology for the recycling of used tires. Pyrolysis is a method of chemically breaking down organic compounds through rapid heating. This then allows for the formation of new products which the treated organic compound did...

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Yokohama Rubber’s Advan Sport V107 Selected as OE Tire for New Mercedes–AMG GLE 53-Series

on May 11, 2020 in Tires

Yokohama Rubber Co. Ltd. (TYO:5101) recently revealed that it has been supplying its Advan Sport V107 tires as OE for a new-model car, the Mercedes–AMG GLE 53 4Matic+, since last October. These are being fitted to the model as a 575/50ZR20 113Y size for the front tires and 325/35ZR22 114Y for the rear tires. Made for use with high-powered premium...

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Yokohama Rubber Supplies OE Tires for Subaru’s NA Launch of New Sedan, SUV

on April 28, 2020 in Tires

Yokohama Rubber Co. Ltd. (TYO:5101) announced on April 20 that it has been supplying Avid GT tires as OE for two new cars launched by Subaru Corp. (TYO:7270) in North America. Both of these cars – the new-model Legacy sedan and Outback crossover SUV – hit the U.S. and Canadian markets in autumn 2019. Based on the existing Avid tire...

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