This week's world rubber industry information 24-31 March 2024

Tyres
1. MICHELIN's 63% recyclable tyres in use
On 13 March, Porsche used Michelin 'sustainable' tyres in its advanced all-electric prototype GT4 e-Performance.

2. Bridgestone opens smart logistics centre in Spain
On 20 March, Bridgestone EMEA announced the opening of a new logistics centre in Burgos, Spain.

3. Continental opens new development centre in America
Continental Americas has announced the opening of the Continental Tire Retreading Development Centre in Rock Hill, South Carolina, USA.

4. Pirelli sets net-zero emissions target for 2040
On 22 March, Pirelli Tyre announced that it had signed a new term loan agreement with a select group of international banks.

5. Nokian Tyres sets out unique rewards
From 18-29 March, NOKI North America is hosting a state-by-state contest in North America, inviting drivers to vote on which North American state or province has the worst roads and have the chance to win free tyres.

6. Continental Expands U.S. Headquarters
On 22 March, Continental Tire USA opened a new headquarters in Fort Mill, South Carolina, with 350 employees.

7. Michelin CEO attends China Summit Forum
At the annual meeting of the China Development Forum 2024 held in Beijing on 24-25 March, Michelin CEO Florent Menegaux attended and noted that "Michelin has been in China for 35 years and together we have experienced the country's rapid growth.

8. Double Star Increases Holdings in Kumho Tyres
Qingdao Double Star increased its control over Kumho Tyre by acquiring an investment vehicle established in 2018 to purchase shares in the Kumho tyre maker, the company disclosed in an announcement on 25 March.

9 Continental to save 150 GWh in 2023
Continental Tyres has announced that it has reduced its annual energy demand by around 150 gigawatt hours in 2023, thanks to the combined results of 160 energy-saving projects.

10. Continental implements plans for plant closures
On 26 March, Continental announced that its Automotive division has decided to close its Wetzlar and Schwalbach plants in Frankfurt and Babenhausen as part of a planned consolidation of plants in the Rhine-Main region.

11. Nexans pays dividend and accelerates expansion
On 26 March, Nexen Tire Korea held its 66th regular shareholders' meeting at its headquarters in Korea. The meeting completed the approval of the financial statements, the election of directors, and some changes to the company's bylaws.

12. President of NOKI Tire announced his retirement
On 27 March, Jukka Moisio, President and CEO of Noki Tire, informed the company's Board of Directors of his intention to retire in 2024.

13. Tyre giant shows off new lunar rover tyres
On 29 March, Bridgestone announced the development of a new lunar rover tyre, part of an initiative to extend "airlessness" from Earth to space and the surface of the Moon.

14. Michelin to increase investment in Thailand
Michelin plans to invest 300 million euros (Rs 2.338 billion) in Thailand over the next three years to increase production capacity, the company said.

15. samsung plans to acquire part of the German mainland automotive business
According to foreign media reports, Samsung Electronics is planning to acquire part of the German Continental Group's automotive business, including advanced driver assistance systems, as well as in-vehicle display division.

Non-tyre and raw materials
1. Continental Germany will reduce the number of layoffs
ContiTech, a subsidiary of Continental Germany, has announced that it is significantly reducing the number of job cuts as part of the previously announced restructuring of its hose business.

2. 2024 India Rubber Show in Mumbai
The 11th edition of India Rubber Expo (IRE 2024) was held at the Mumbai Convention and Exhibition Centre from 21-23 March.

3. Italy's fifth largest exporter of rubber and plastics machinery in 2023: China
On 21 March, the Italian plastics and rubber machinery sector performed strongly in 2023, with sales up 2.8% year-on-year to €4.8bn, according to Amaplast Italy.

4 Progress in EU Restrictions on Fluoroalkyl Materials
The European Chemicals Agency (ECHA) has now published details of "next steps" under its proposal to impose broad restrictions on the use of perfluoroalkyl and polyfluoroalkyl substances.