Yokohama Rubber Co. (YRC) has completed the acquisition of Goodyear’s off-the-road (OTR) tire business, valued at $905 million (€878 million), the Japanese group reported 4 Feb.
Recently, the opening ceremony of the Michelin Tire national logistics center warehouse was grandly held, marking another important layout of Michelin in the Chinese market.
According to data released by the General Administration of Customs of China on January 18, China's rubber tire exports reached 9.32 million tons in 2024, a year-on-year increase of 5.2%; the export value was 164.5 billion yuan, a year-on-year increase of 5.6%.
Recently, Egypt’s prime minister Mostafa Madbouly held a meeting with Wang Jianjun, party secretary and executive director of China National Tire & Rubber (CNTR), and Sun Ding, deputy general manager, in the New Administrative Capital. The two sides exchanged views on investment in Egypt's tire industry.
On January 11, 2025, the 8th Boao Enterprise Forum was grandly held in Hainan. Michelin China won the "2024 ESG Energy Saving and Carbon Reduction Innovation Enterprise" award for its outstanding performance in green tires, smart services and green factory construction. At the same time, Michelin China and Mongolia president and CEO Matthew Ye was named one of the "Top Ten Influential People of 2024" for his leadership in promoting green innovation and low-carbon development. These two honors recognize Michelin China's outstanding contributions and extraordinary influence in environmental protection and sustainable development.
On January 12, the groundbreaking ceremony of the Wanli Tire Cambodia production base under Guangzhou Industrial Investment Holdings Group (GIIHG) was held in the New Bavet Special Economic Zone in Svay Rieng Province, Cambodia.
In recent years, the demand for off-the-road tires has continued to grow. According to relevant research statistics, the scale of the global off-the-road tire market has shown a steady expansion trend. Driven by strong global demand, China's OTR tire market has continued to develop in recent years, and major tire companies have increased their investment in this field.
Recently, Pirelli reconfirmed in first place at the global level in the Auto Components and Automobiles sectors of the Dow Jones Sustainability World and Europe indices.
Recently, according to data from the Cambodian Ministry of Commerce, Cambodia's automobile tire exports reached US$772 million in the first 11 months of 2024, far exceeding US$328 million in the same period of 2023, an increase of 135%.