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. 

Comments (0)

ADD COMMENT

Link Copied!

Hankook has confirmed its partnership for the 2026 Convoy Truck Shows, stepping in as an infield partner for the series, which runs in tandem with the British Truck Racing Championships (BTRC). These events offer a distinctive fusion of high-octane track action and the immersive atmosphere of a large-scale truck gathering. This renewed involvement deepens Hankook’s footprint at some of the most eagerly awaited dates on the UK motorsport and haulage calendar.

The season’s schedule commences with Convoy on the Plain on 16–17 May, followed by Convoy Cymru on 20–21 June. The flagship gathering, Convoy in the Park, will round off the summer season on 8–9 August. Attendees can look forward to a full agenda of British truck racing, breathtaking stunt performances, live entertainment and attractions for all ages, alongside a remarkable display of working vehicles, custom rigs and pristine show trucks. Mirroring its sponsorship of the Devon Truck Show, Hankook’s partnership with the Convoy series supports its wider mission to generate substantial donations for local charitable causes and community groups, positioning it as an event with purpose beyond spectacle.

At each of these shows, Hankook will spotlight its cutting-edge range of commercial and consumer tyres. Key exhibits will feature the SmartFlex AH51 for steer axles and the SmartFlex DH51 for drives, both engineered for long-haul and regional use and prized for superior traction and extended durability. Also on show will be the SmartFlex TH31 trailer tyre, the Vantra Transit summer tyre for commercial vans and several models from the Laufenn portfolio, such as the LZ22 all-weather drive tyre, the LF21 all-position tyre and the robust LF95 trailer tyre.

Rounding out the display are the Dynapro HP2 all-season SUV tyre and the iON evo SUV, a cutting-edge summer tyre purpose-built for electric vehicles, underlining Hankook’s forward-looking approach to sustainable mobility. Through its involvement in the Convoy Truck Shows, Hankook reinforces its dedication to the haulage industry by engaging directly with drivers, fleet operators and enthusiasts, showcasing tyre innovations focused on safety, efficiency and peak performance, all while actively contributing to valuable community initiatives.

Event Director Mike Quartley said, "We’re thrilled to have Hankook Tyre UK return as an official sponsor of the Convoy Truck Shows. After the success of last year’s collaboration, continuing the partnership was an easy decision for us. Hankook’s commitment to the industry and to our events adds real value across the board – from contributing to the scale and quality of the events to elevating the atmosphere and experience for our audience. We’re proud to be building on this relationship as the Convoy series continues to grow.”

Comments (0)

ADD COMMENT

Link Copied!

The tyre industry gathered to honour outstanding innovation and individual accomplishment over the past year during the Tire Technology Expo 2026 held in Hannover. The Tire Technology International Awards, spanning 13 categories, recognised both technological progress and the commitment to a more sustainable future within the tyre sector. Organised by the Tire Technology International magazine, the winners were selected by an independent panel of journalists and technical experts.

Sustainability was a dominant theme, highlighted by three distinct environmental awards. Bridgestone received the award for tyre design innovation, celebrated for developing a truck tyre composed of 70 percent recycled and renewable materials, a notable industry milestone. In manufacturing, Continental was acknowledged for its significant strides in reducing freshwater consumption during production with the Environmental Achievement of the Year – Manufacturing award. The Environmental Achievement – Industry Contribution award went to the BioButterfly project, a collaborative effort involving Michelin, IFP Energies Nouvelles and Axens. This initiative was praised for creating bio-based butadiene from bioethanol, presenting a credible substitute for fossil fuel-derived materials and demonstrating strong potential for immediate industrial application.

Further technical achievements were recognised across several categories. Flexsys earned the Chemicals and Compounding Innovation of the Year award for developing the first practical alternative to the antioxidant 6PPD after extensive research. Teijin Aramid was honoured with the Materials Innovation of the Year award for industrialisation of its high-performance Twaron Next para-aramid fibre. A collaborative R&D breakthrough by Goodyear and TNO, which integrates tyre intelligence directly into a vehicle's automatic emergency braking systems to enhance safety, won the R&D Breakthrough of the Year award. In manufacturing equipment, Comerio Ercole’s advanced modular calendering line, Zeus, won the Tire Manufacturing Innovation of the Year award. Uzer Makina, a long-time finalist, was finally named Tyre Industry Supplier of the Year.

The event also celebrated conceptual and product excellence. Michelin had a particularly successful evening, first winning the Tire Concept of the Year award for its Lunar Airless Wheel, designed to withstand the extreme conditions on the moon. The company then claimed the highly anticipated Tire of the Year award for its Primacy 5 Energy, a tyre noted by the jury for achieving top EU label ratings in most sizes while offering improved longevity and reduced emissions compared to its predecessor. In the final major category, Continental was named Tire Manufacturer of the Year for the second consecutive year and the fifth time overall, following a review of the top manufacturers' yearly contributions.

The awards also highlighted personal achievements within the field. The Young Scientist Prize for 2026 was presented to Max Dixey, a PhD student at Queen Mary University of London, for his compelling presentation on the effects of carbon black activators. Finally, a Lifetime Achievement Award was bestowed upon Michelin’s Pascal Prost. A veteran engineer, researcher and long-time contributor to both the conference and the awards jury, Prost was celebrated by peers and colleagues for his enduring and significant impact on the tyre industry.

Matt Ross, Chairman of the awards and Editor-in-Chief of Tire Technology International, said, “As is now becoming the norm, this year’s awards were incredibly close. Continental and Michelin have picked up multiple awards and should be highly commended, but I’m also happy to see such an array of winners across the whole range of categories. The level of innovation on display across the tyre sector is staggering, and I hope that this year’s awards have captured even a hint of the groundbreaking work taking place to move this industry forward.”

On Frost’s achievement, Ross said, “For as long as I have worked on Tire Technology International and these awards, Pascal has been a valued contributor, a hugely appreciated advisor – and a wonderful sounding board. I would like to join with his peers and friends from across the industry in celebrating his phenomenal contribution to the tyre business.”

Comments (0)

ADD COMMENT

Link Copied!

MRF has announced a significant move to expand its manufacturing footprint in southern India. The company revealed that it has signed a non-binding memorandum of understanding (MOU) with the Tamil Nadu Government, facilitated through the state’s nodal investment promotion agency, Guidance. This preliminary agreement outlines the company’s intent to establish a greenfield manufacturing unit dedicated to the production of automotive tyres and related ancillary products. The proposed facility is planned for location within the SIPCOT Industrial Park situated in the Sivaganga District of Tamil Nadu.

As the agreement is currently non-binding, its progression to a final commitment is contingent upon several conditions. These include the Tamil Nadu government’s sanction of a bespoke incentive package, the provision of necessary infrastructure, the allotment of land and the securing of all requisite statutory approvals in accordance with applicable state laws.

According to the official statement released by MRF, the project, upon receiving all clearances and moving forward, envisions a substantial capital outlay. The estimated investment for this venture is projected to be approximately INR 53 billion, with the capital expenditure to be phased over a 12-year period. Beyond the financial injection into the region’s economy, the initiative is also anticipated to be a major source of employment, with expectations of creating direct job opportunities for around 1,000 individuals.

Comments (0)

ADD COMMENT

Link Copied!

The second Sustainable Development (ESG) Industrial Ecosystem Innovation Competition for Chinese and Foreign Enterprises in Shanghai’s Pudong New Area recently concluded, with Sailun Group emerging as a distinguished honouree. Recognised for its collaborative ESG efforts with Vale, a global leader in metal and mining, Sailun received the prestigious ‘Innovative Model’ award, standing out as the sole tire company to achieve this recognition.

Organised jointly by the Shanghai Pudong Foreign-Invested Enterprises Association and the Shanghai Pudong Domestic-Funded Enterprises Association, the competition welcomed participation from companies registered and operating in the area, along with their partners. Invited by Vale Metals (Shanghai), Sailun took an active role by meticulously organising and presenting its innovative achievements in sustainable development. Through a structured application process highlighting solid practices and creative excellence, the company successfully secured the award.

Vale, one of the world’s foremost iron ore producers, maintains a longstanding strategic partnership with Sailun. Driven by a mutual dedication to sustainable supply chains, the two organisations have intensified collaboration, particularly in mining tyre supply. By integrating Sailun’s low-carbon tyre technologies, they inject environmental vitality into operations while enabling Vale to achieve refined efficiency through cutting-edge solutions. Their partnership exemplifies a synergistic model that harmonises efficiency, safety and low-carbon practices, serving as a standout case of ESG-driven empowerment across the industrial chain.

Comments (0)

ADD COMMENT

Link Copied!