HANOVER, Germany — Michelin's continued pursuit of sustainability and its innovation in tire technology have earned it two Tire Technology International Awards for Innovation and Excellence, which were presented during a gala dinner that was held during the Tire Technology Expo, which ran Feb. 25-27 in Hanover.
HANOVER, Germany — Rubber industry supplier Cabot Corp. has developed an engineered elastomer composite that it claims can extend the life of OTR/earthmover tires "significantly" while cutting processing costs for tire manufacturers.
HYOGO, Japan — Toyo Tire Corp. suffered a 9.3% drop in fiscal 2019 operating income on 4% lower sales, a result the company attributed primarily to higher manufacturing costs and foreign-exchange rate changes.
KOBE, Japan — Sumitomo Rubber Industries Ltd. registered double-digit drops in operating and net income for fiscal 2019 and is projecting only a slight rebound in 2020 because of global "economic uncertainty."
ZHAOYUAN CITY, China — Shandong Linglong Tire Co. Ltd. plans to raise about $285 million through a public placement on the Shanghai Stock Exchange, the proceeds of which will go toward various expansion projects.
SAN ANTONIO, Texas — Grupo Morsa, a Mexican distributor of automotive parts, is joining Auto Value, an independent group selling automotive products through a network of distribution centers, parts stores and service centers.
GURGAON, India — Private equity firm Warburg Pincus L.L.C. is investing approximately $150 million in "compulsorily convertible preference shares" issued by Apollo Tyres Ltd., a move Apollo management sees as a "strong vote of confidence" in its direction.