Japanese tyre major Yokohama Rubber Co. (Yokohama) is all set to further strengthen its off-the-road (OTR) tyre business with a $905 million cash deal to acquire The Goodyear Tire & Rubber Company OTR tyre business.

The acquisition is part of Yokohama’s strategic investment that, it says, will contribute towards ‘Hockey Stick Growth’. 

Yokohama is currently implementing its Yokohama Transformation 2026 (YX2026) new medium-term management plan for FY2024–2026. It plans to further advance the ‘exploitation’ of the strengths of its existing businesses and the ‘exploration’ of new value and complete the transformation begun under its previous medium-term management plan YX2023, while being mindful to not leave any negative legacies for the next generation. 

The YX2026 positions the off-highway tyre (OHT) business as a future growth driver and programmatic M&A as one of the growth strategies being used to expand Yokohama's OHT business. The acquisition of Goodyear’s OTR business will contribute to that expansion and enhance Yokohama's corporate value.

Goodyear's OTR tyre business provides industry-leading OTR tyres for surface and underground mining, construction and quarry, and port and industrial end markets. It also offers a comprehensive suite of products, services and tyre management solutions that help customers optimise their operations and improve productivity and efficiency.

Mark Steward, CEO & President, Goodyear said, "The sale of the OTR business marks an important milestone as we continue to execute against our Goodyear Forward transformation plan. We are grateful to our OTR colleagues who have driven the success of the business and are committed to working closely with Yokohama to ensure a smooth transition for customers and associates."

It is important to note that Goodyear will retain its business providing OTR tyres for the U.S. military and defence applications. Furthermore, pursuant to a product supply agreement to be entered into with Yokohama in connection with the closing of the transaction, Goodyear will manufacture certain OTR tyres for Yokohama at some of its manufacturing locations for an initial period of up to five years after the closing of the transaction.

Goodyear says it intends to use transaction proceeds to reduce leverage and fund initiatives in connection with the Goodyear Forward transformation plan.

Yokohama says the global OHT market size is estimated to be about 4 trillion Japanese yen (INR 2,440 billion) and is expected to grow six percent a year, considerably higher than the projected two percent annual growth for the consumer tyre market. At present, the Yokohama Group's has a strong position in the agriculture and forestry machinery tyres segment, which it says accounts for about 40 percent of the global OHT market. The acquisition will serve to complement Yokohama's OHT product range in non-agricultural applications by bringing in the strong brand power of Goodyear’s OTR business into the Group.

In fiscal 2023, Goodyear reported sales of $678 million (INR 56 billion) and EBITDA of $129 million (INR 11 billion)), for an EBITDA margin of 19 percent.

Goodyear’s OTR product lineup covers a wide range of sizes, from smaller tyres with diameters of up to 25-inches to large- and ultra-large tyres with diameters of 49- to 63-inches. 

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.”