In its short-term targets, Nokian Tyres will control cost and prioritize cash flow.

Nokian Tyres CEO Jukka Moisio said, “We will continue to provide our customers and consumers with world-class products and services, while at the same time keeping costs under strict control. We will prioritize cash flow by cutting back investments and actively managing working capital.”

“In this volatile market environment, our focus in the second half of 2020 is tactical. A more thorough review of our longer-term growth strategy will take place once the market has stabilized.”

Navigating through COVID-19 by the resilient Nokian Tyres team

“I am pleased that our rapidly implemented measures to limit the impact of COVID-19, by safeguarding the health of our employees and maintaining business continuity, have proven to be effective. This would not have been possible without a high level of commitment and flexibility from the whole Nokian Tyres team,” says Moisio. “We have a valued brand, strong operations and a capable, experienced team – solid assets to build on.”

“Nokian Tyres has a strong balance sheet and we strengthened our liquidity position further in the first half of the year. We have increased our focus on working capital management, taking manufacturing downtime to reduce inventory levels and reducing capital spending to ensure a healthy cash flow. As visibility to the market remains low, it is essential that we continue keeping costs under strict control.”

Driving top-line growth by new products

Looking beyond the short-term tactical focus, driving top-line growth is Nokian Tyres’ number one priority. To achieve that, Moisio highlights the importance of having the correct product line-up and an extensive pipeline of new product launches:

“We want to ensure that the innovation pipeline in Passenger Car Tyres and Heavy Tyres is strong and that we continuously launch new tyres that meet the consumer and customer needs. We have a record number of new product launches planned for the coming months which will be a key driver for boosting sales,” says Moisio.

“Penetration is still low in certain markets, so a lot more work needs to be done in expanding distribution, commercial marketing and convincing consumers,” says Moisio. “As a premium tyre manufacturer, Nokian Tyres is known for its high quality, innovative and safe products, and we will continue to build on this strength.”    

The heavy investment phase is behind – time to generate cash flow

Nokian Tyres has made significant investments in recent years: the new US factory, the testing center in Spain, and the Heavy Tyres capacity expansion in Finland.

“We have a unique production platform consisting of three factories that allows us to scale output up or down according to demand and further improve service levels. All three factories have important roles in Nokian Tyres’ growth plan. In North America, we continue to ramp-up the new factory. At the same time, we aim to maximize production in Russia. Our factory in Finland is the key location for R&D, prototyping, testing and manufacturing of more specialized tyres, in addition to normal volume production. And our Heavy Tyres’ growth is supported strongly by the expansion of the Finnish factory with the state-of-the-art technology.”

“The investment phase is starting to be behind us, which will further support our free cash flow generation. Now we need to make sure that we benefit from these investments in the best possible way. The capacity and capability available will help us increase sales once the market rebounds,” says Moisio.

Bridgestone will supply tailored-made tyres for Lamborghini’s Huracán STO, which will be launched in 2021.

Bridgestone ensured the high-performance tyre can maximise the Huracán STO’s traction, handling, control, and extreme overall performance.

Key to the tyre’s success in maximising the super sports car’s performance is the combination of pattern and cavity design. The Potenza tyres apply an asymmetric tread design for enhanced steering response and cornering stability, and an internal crown structure that distributes footprint pressure evenly when cornering.

As well as the road-focused, custom-developed Potenza fitment, Bridgestone will also be providing a track-oriented, road-homologated version of the tyre that applies “race” technologies to maximise the vehicle’s track performance, especially in dry conditions.

Steven De Bock, VP Consumer Replacement and OE at Bridgestone EMIA, said, “It’s been a pleasure for our team to work so closely with Lamborghini for the first time, and on such an exciting project. The Huracán STO is an incredible piece of engineering that deserves a custom tyre that can fulfill its full potential. I can proudly say that Bridgestone has delivered such a high-performance tyre. It has been fantastic for the team to have worked on a project that is at the forefront of technology in so many ways.”

Hankook, one of the major global tyre brands, has started testing and development operations at its new ultra modern facility in Spain.

The testing facility has been set up on the premises of the Applus+ IDIADA Group and can also cater to European premium car manufacturers that have their own demanding tyre tests. The facility is completely automated and will host a 20-member team from the Spanish testing centre, which is affiliated to the Hankook Europe Technical Centre.

Klaus Krause, Head of European Research and Development Centre, said, "With the further expansion of our testing capacities in Spain, we are reaching the next level together with our local partner Applus+ IDIADA."

He also added, "We are confident that the newly installed testing facilities in particular will significantly improve our efforts to provide the best tyre testing conditions and services to our employees and customers. In addition, we will also be able to conduct significantly more tests on site." (TT)

ASCENSO introduced a construction tyre - BLB 730- which is used for boom lift vehicles used in construction and other industries. It comes with several features that cater to the unique needs of aerial lifting equipment.

The BLB 730 tyre is available in different sizes to fit various boom lift vehicles. This range of sizes provides versatility and compatibility with different types of aerial lift work platforms.

“ASCENSO's BLB 730 tyre is a significant advancement in specialised equipment for the construction industry. It focuses on load capacity, stability, traction, and durability to improve the performance and safety of boom lift vehicles. Whether working at heights or manoeuvring on tough terrains, this tyre offers reliability and durability for efficient operations,” said the company in a statement.

The BLB 730 tyre is built to handle heavy loads and stabilise boom lift vehicles. It has solid lugs and a more extended shoulder design, which ensures good traction and prevents slipping during operation. This is important for safely carrying heavy weights at high elevations. ASCENSO has used a special rubber compound in making the BLB 730 tyre, making it durable and long-lasting, resulting in less downtime and more productivity on construction sites.

To make the tyre even better, the company has optimised its inner volume to reduce tyre fill consumption, reducing the risk of tyre punctures, minimising the need for maintenance, and keep the vehicles running smoothly.

Falken Tyre Europe is an official IHF Men's World Championship 2023 partner for the upcoming tournament, the company has announced. The tournament is taking place at nine venues in Sweden and Poland from 11-29 January, 2023. Falken Tyre claims that the partnership was organised by the sports marketing agency SPORTFIVE. SPORTFIVE is responsible for exclusive marketing and media rights for all IHF World Championships until 2031.

Falken Tyre claims that this is its second agreement with the International Handball Federation. In addition to title and logo rights (Official IHF Men's World Championship 2023 Partner), the company has also secured advertising rights, including the Falken logo in each goal and centre circle of the courts, as well as the presence of Falken branding in the official tournament social media communications and print materials. According to Falken Tyre, this is complemented by 30-second video ads that will be shown on the big screens in the nine sports halls before the start of each match and at half-time.

Sharing his views, Robert Müller von Vultejus, Chief Growth Officer at SPORTFIVE, said, “With Falken, the IHF World Handball Championships have secured a great partner who is positioned with far-reaching influence in the relevant core markets. We are delighted to have been able to bring two global partners together for one of the most exciting sporting events of next year.”

Markus Bögner, COO and President of Falken Tyre Europe GmbH, explained, “Handball isn’t just of great importance in Europe, but all over the world, which has led us to partake in this top-level tournament once again. The fact that the international tournament is taking place in countries that are among our core markets is another great reason for our involvement. We can also look back on a long partnership with our colleagues at SPORTFIVE, who always offers us excellent opportunities that are an excellent fit for the Falken brand, which stands for enthusiasm, performance and achievement.”