Continental’s Shanghai subsidiary has signed a strategic cooperation deal with China Automotive Technology and Research Centre (CATARC). The deal appears to be primarily focused on chassis, braking and powertrain, but CATARC operates one of the very few proving grounds in China authorized to test for EU tire labeling rules as well as having tracks and
On Tuesday (12 Jan), Aeolus issued a short stock market notice updating investors on its financial restructuring. The company said that Aeolus and its parent, China National Chemical Rubber Co., Ltd. Are in the process of planning, “a major capital restructuring plan (重大资 产重组预案)” After the restructuring, the company will be listed on the Shanghai Stock
On 9 January, Aeolus held a meeting to review business for the last year. Despite setbacks during the year, Aeolus reported its highest-ever monthly volume in December 2015. Company chairman said Aeolus needs to integrate with Pirelli and to implement strategic adjustment and transition. The business model needs to change from selling mainly on price
On 29 December Aeolus chairman Wang Feng outlined to company staff the three principles of democratic life endorsed by the Communist Party. Be serious (严) to oneself Use the Authority (权) seriously (严) Exercise self-discipline These principles have been promoted by Party Chairman Xi Jinping, as part of his anti-corruption drive. Wang said the tire
In the third major share placement announced in the last week, Sailun and Jinyu are preparing a private placement of shares worth up to RMB1500m (USD228m). The cash will be used to fund an overseas capacity building programme. A series of stock exchange announcements on Tuesday 12 Jan revealed the project, approved by the board
Shandong Linglong held its annual review in front of almost 300 employees on 9 January. The meeting was addressed by Linglong chairman Wang Feng (王锋), deputy general manager Wang Xianqing (王显庆) and others. Source (Chinese language)
China’s Securities Regulation Commission has approved Shandong Linglong Tyre Co.’s application for an initial public share offering (IPO). The Commission originally looked at the application in December and decided to delay the decision until 13 Jan. Linglong plans to issue not more than 200m shares. Linglong’s draft prospectus said the proceeds will be used to
Bridgestone’s European Driveguard was launched today in France. It was marketed as a ‘Game Changer’ within the tire business. At first glance, the product is just another runflat tire, launched 2 years behind its US namesake. But there is a story behind the development, which marks a change of game not necessarily for the tire
Many cultures regard this period as the end of one year and the beginning of the next. I’m using that as an excuse to adopt a slightly more frivolous approach to this column. With no more pre-amble, let me look back at 2015 and make some predictions for 2016. The themes of 2015 were pretty
I was lucky enough to be interviewed by Prasanth Warrier of Rubber Machinery World last week in his Know a Rubber Leader series. The interview is in full on his website, but I thought I’d re-print two of the ten questions he asked me here, as a bit of a teaser for his full article.
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