Price hikes are under consideration in the rubber and resin hose industry as manufacturers grapple with soaring costs of transport and raw materials, in addition to corrections for unprofitable products. While high transport costs are an industrywide issue, factors specific to certain hose types are also evident. High transport costs are not limited to the domestic Japanese industry. Difficulty in...
The Japanese Rubber Workers Union Confederation (JRC) has set out on its annual spring labor offensive for 2021. The bulk of union demands have now come in, especially those from large manufacturers. A survey based on information gathered at the JRC shows that, as of March 12, 45 unions have submitted their demands for the year. The weighted average wage...
Sumitomo Rubber Industries Ltd. (TYO:5110) recently announced that it has succeeded in its application to utilize the Fugaku supercomputer for industrial research in 2021. Opened up for use by the academic and industrial research sectors this March, Fugaku is part of Japan’s High-Performance Computing Infrastructure (HPCI). By utilizing the supercomputer, Sumitomo Rubber will look to speed up improvements to its...
Yokohama Rubber Co. Ltd. (TYO:5101) announced on Feb. 19 that it intends to dissolve and liquidate Yokohama Industrial Products Italy S.r.l., an Italian subsidiary focused on the production and sale of marine hoses. The Japanese parent company has already sold Yokohama Industrial Products Italy’s tangible fixed assets to a third party, with the transfer of these assets having been completed...
Goodyear Tire & Rubber Co. is set to acquire Cooper Tire & Rubber Co. for approximately $2.5 billion. Announced on Feb. 22, the acquisition will allow Goodyear to combine the mutually complementary brands of the two companies, expanding the product lineup it can offer to consumers and customers. By combining the strengths of the two North American companies in the...
The Michelin Group is set to build its first tire recycling plant, locating this in the Antofagasta region of Chile as a joint venture with Swedish-based Scandinavian Enviro Systems AB (Enviro). Construction on the plant is slated to begin this year, with production then beginning in 2023. The project is expected to require an investment of around $30 million. Enviro...
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