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Cheaper Raw Materials Help Tire Manufacturers Increase Profit (Part 1)

on November 19, 2015 in Market Background, Tires

In the first three quarters of 2015 (January–September), consolidated financial results for four Japanese tire manufacturers—Bridgestone Corp., Sumitomo Rubber Industries Ltd., Yokohama Rubber Co. Ltd., and Toyo Tire & Rubber Co. Ltd.—showed large gains in operating income thanks to low prices for crude oil, natural rubber and synthetic rubber. The lower raw material prices translated into gains for Bridgestone of...

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Sumitomo Rubber Develops Biomass Materials for Tires

Sumitomo Rubber Develops Biomass Materials for Tires

on November 18, 2015 in Materials, Tires

Sumitomo Rubber Industries Ltd. announced at a recent press conference that it is developing highly functional biomass materials for tires. Conventional rubber used in tires contains oil from fossil resource as a softener. The problem, however, is that the oil gradually leaches out of the rubber, causing tires to harden. Sumitomo Rubber solved this problem by using plant-based oil as...

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Bridgestone Americas Acquires TireConnect

on November 17, 2015 in Tires

Bridgestone Corp. announced on Oct. 30, 2015 that group company Bridgestone Americas Inc. (BSA) would acquire TireConnect Systems. Announced by BSA on Oct. 22, the deal provides BSA with TireConnect Systems, a software company that supports tire dealers and distributors in North America (primarily Canada) with a tire Internet sales tool featuring e-commerce capabilities. Bridgestone, the world’s largest tire manufacturer,...

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Sumitomo Rubber to Absorb Dunlop Goodyear in Japan

on November 13, 2015 in Tires

As of Jan. 1, 2016, Sumitomo Rubber Industries Ltd. will absorb its consolidated subsidiary Dunlop Goodyear Tires Ltd., which serves the original equipment market with tires and other products. The move will focus Sumitomo Rubber’s resources for more effective management and operations....

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Bridgestone to Acquire Pep Boys

on November 11, 2015 in Tires

Bridgestone Retail Operations LLC (BSRO), a wholly owned subsidiary of Bridgestone Corp., will acquire The Pep Boys – Manny, Moe & Jack, one of America’s leading automotive aftermarket chains, in an all-cash transaction, purchasing all outstanding shares at approximately $835 million in aggregate equity value. Bridgestone’s biggest acquisition to date was the $2.6 billion purchase in 1988 of The Firestone...

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Nihon Michelin Names Perriniaux President

on November 10, 2015 in Tires

Nihon Michelin Tire Co. Ltd. has announced that Paul Perriniaux, executive operating officer, will take over as president from Bernard Delmas, who will assume the title of chairman. Perriniaux joined Nihon Michelin in 1995 in truck and bus marketing. He was regional manager of Michelin Tyre PLC (U.K.) in 2001 and IT project manager at the France head office from...

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