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...
Tires
Bridgestone Looks to Expand European Sales Network by Acquiring Germany’s Reiff
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...
Bridgestone Nominates Masahiro Higashi as New Global COO
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...
Michelin Partners With Swedish Company to Develop Recycling Technology for Used 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...
Yokohama Rubber’s Advan Sport V107 Selected as OE Tire for New Mercedes–AMG GLE 53-Series
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...
Yokohama Rubber Supplies OE Tires for Subaru’s NA Launch of New Sedan, SUV
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...
