Goodyear Tire & Rubber raised its 2024 earnings outlook, citing strong operational income gains despite ongoing global challenges impacting sales volumes. The Ohio-based tyre manufacturer reported a segment operating income (SOI) of USD 347 million for Q3 2024, a 3.3 percent or USD 11 million increase from the prior year. The SOI margin expanded to 7.2 percent, marking the fourth consecutive quarter of margin improvement, aided by cost-saving initiatives and optimisation efforts as part of the “Goodyear Forward” programme.

Goodyear announced it achieved USD 450 million in year-over-year SOI benefits in 2024 and increased its annual target by $200 million, aiming for USD 1.5 billion in total ru “-rate savings by” 2025. However, sales for the quarter dropped 6.2 percent year-over-year to USD 4.82 billion, impacted by declining tyre unit volumes, which fell by 6.2 percent to 42.5 million units. This volume decline, coupled with an increase in unabsorbed fixed costs, contributed to a significant negative impact on the quarter’s results.

Goodyear’s Americas segment posted a 2.7 percent decrease in operating income at USD 251 million. EMEA sales grew eight percent amid heightened replacement demand, generating a 9.1 percent boost in segment operating income. In the Asia-Pacific region, the company reported a 28.6 percent year-over-year rise in SOI to USD 72 million.

The company remains committed to its portfolio optimisation, targeting gross proceeds of over USD 2 billion through asset sales, said Goodyear.

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NEXEN TIRE is intensifying its transition to renewable energy across its domestic manufacturing facilities, marking a significant step in its long-term sustainability strategy. The company is advancing this effort through a combination of external power purchase agreements and the expansion of on-site solar generation at its Yangsan and Changnyeong plants.

A key component of this initiative involves a Direct Power Purchase Agreement (DPPA) inked with SK Innovation E&S, which allows the tyre manufacturer to secure renewable electricity directly from producers via a long-term contract. Beginning in November, the Yangsan plant will receive approximately four megawatts of onshore wind and solar power, with an anticipated yearly output of six gigawatt-hours. This supply is expected to cut annual greenhouse gas emissions by an estimated 2,700 tonnes of carbon dioxide equivalent.

Parallel to the DPPA, NEXEN TIRE is bolstering its self-generation capabilities. Rooftop solar systems at the Changnyeong facility, currently under lease, will be transitioned to company-owned generation as leases expire, targeting a total capacity exceeding 10 megawatts by 2028. This shift will convert roughly 9 percent of the plant’s electricity use to renewable sources, while the Yangsan plant is also evaluating similar proprietary solar installations.

Given its substantial presence in Europe and its role as an original equipment supplier to premium automakers, NEXEN TIRE faces increasing pressure from clients to lower production-related emissions. The company has already secured Science Based Targets initiative (SBTi) validation for its goal to reduce Scope 1 and 2 emissions by 58.8 percent from a 2023 baseline by 2034, reinforcing that environmental performance is now a critical competitive factor in its key markets.

John Bosco (Hyeon Suk) Kim, CEO, NEXEN TIRE, said, "The shift to renewable energy is not merely a response to regulations but a strategic investment to secure sustainable competitiveness in the global market. We will continue to expand the adoption of renewable energy across our production sites both in Korea and abroad in a phased manner."

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Nokian Tyres has achieved a significant milestone in the 2026 S&P Global Corporate Sustainability Assessment (CSA), securing a total score of 80 points. This evaluation examines sustainability factors that are critical to long-term corporate performance, with a strong emphasis on risk management, organisational adaptability and overall resilience. The company views this result as a clear validation of its strategic approach.

The assessment awarded the tyre manufacturer perfect scores in several key categories, including Climate Risk Management, Raw Materials Programs, Information Security Policy and Human Rights Mitigation and Remediation. Company leadership has acknowledged that this accomplishment is rooted in the deep integration of sustainable practices across daily operations, product innovation and long-term value generation.

Nokian Tyres also stressed that responsible expansion relies heavily on collaborative efforts with employees and partners, reinforcing that sustainable decisions are fundamental to building resilience in a rapidly evolving global environment.

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Bartell Machinery Systems has announced an expansion of its production facility in Rome, New York, aimed at increasing manufacturing capacity and reducing lead times for customers.

The company is adding 22,400 square feet of high-bay manufacturing space to its existing 152,000 sq ft site. The expansion will include 30-tonne crane capacity, designed to improve material handling, workflow efficiency and flexibility in managing work in progress.

“This expansion of our Rome, New York production facility represents an exciting and important milestone for Bartell Machinery Systems,” said Ben Lunduski, Vice President of Operations of Bartell.

The increased ceiling height will enable the company to manufacture larger and more complex equipment more efficiently. The additional vertical clearance and heavy-lift infrastructure are expected to support improved assembly processes and sequencing of large-scale projects.

Bartell said the investment is intended to increase throughput across multiple product lines, enhance scheduling flexibility and reduce bottlenecks in assembly and testing. The company also expects to expand its capacity to manage multiple projects simultaneously.

“As demand for our large industrial machinery systems continues to grow, this investment reinforces our long-term commitment to our manufacturing operations in Central New York, our customers and our employees,” said Pat Morocco, President of Bartell. “By expanding our production capabilities, we are positioning Bartell for continued success while building a strong foundation for future growth.”

The expansion is also expected to lead to an increase in the company’s workforce to support higher production volumes, contributing to employment in the local area.

Bartell, which produces equipment for the rubber and tyre, wire and cable, and oil and gas industries, said the expansion reflects sustained demand across its product lines and continued growth in recent years. Construction of the facility is at an early stage.

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TyreXpo Asia and AutoMROtive will return to Singapore from 17 to 19 March 2027 at Marina Bay Sands, following a well-attended 2026 edition in Bangkok that drew more than 6,000 buyers and sellers from across the tyre and automotive aftermarket sectors.

The co-located events aim to bring together manufacturers, suppliers and solution providers with distributors, dealers, workshop operators, fleet owners and other industry participants from Asia and international markets. Organisers said the combined format is designed to reflect increasing integration across the tyre and automotive maintenance ecosystems.

TyreXpo Asia Singapore will continue to position itself as a marketplace dedicated to the global tyre industry, while AutoMROtive will focus on technologies and services shaping automotive maintenance, repair and operations, with particular emphasis on fleet servicing.

The exhibition will cover a broad range of segments, including passenger car, commercial vehicle and industrial tyres, alongside wheels and related accessories such as rims and tyre fillers. It will also feature tyre manufacturing, retreading and maintenance solutions, as well as automotive components including batteries and braking systems.

In addition, the event will showcase workshop equipment, diagnostic tools and digital maintenance technologies, including predictive systems. Sustainability is also expected to be a key theme, with solutions related to tyre recycling, disposal and waste management included in the line-up.

Organisers said the event is intended to support companies seeking to expand their presence in the region, offering opportunities to connect with distribution networks, generate sales leads and demonstrate new technologies to a targeted industry audience.

Sponsorship and branding options will be available for companies aiming to increase visibility or position themselves as thought leaders within the sector. These can be tailored to support objectives such as lead generation, market positioning and customer engagement.

The announcement comes as companies in the tyre and automotive aftermarket industries begin planning their sales and marketing strategies for 2027, with trade events expected to play a role in facilitating cross-border partnerships and market access in Asia.

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